An asset can be defined as a resource with monetary value that a person, organization, or nation controls or owns with the desire that it will give a future advantage.
Assets are shown on an organization's balance sheet and are purchased or made to build a company's worth or profit the company's operations.
An asset can be thought of as something that, later on, can create income, lessen costs, or improve sales, whether or not it's manufacturing gear or a patent.
An asset stands for an financial resource for an organization or stands for access that other people or companies do not posses.
A right or other access is legitimately enforceable, which implies financial resources can be utilized at an organization's watchfulness, and its utilization can be blocked or restricted by a proprietor.
For an asset to be available, an organization must have a right to it as of the date of the fiscal reports.
An financial resource can be described as something that is rare and has the capacity to create monetary profits by producing cash inflows or by reducing cash outflows.
Assets can be comprehensively classified into short term or present day assets, fixed assets, financial investments, as well as intangible assets.