What is an asset in accounting?

An asset is a resource with economic value that an individual, a company, or a country owns or controls with the expectation that it will provide a future benefit. An asset is a resource that is expected to provide a future benefit to its owner. In the case of businesses, assets are reported on the company's balance sheet.

What does assets mean in a sentence?

Assets definition: items or resources owned by a person, business, or government, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (opposed to liabilities). See examples of ASSETS used in a sentence.

What is an asset on a balance sheet?

An asset is a resource that is expected to provide a future benefit to its owner. In the case of businesses, assets are reported on the company's balance sheet. An asset may generate cash flow, reduce expenses, or improve sales, and it may be either tangible (like a piece of machinery) or intangible (like a copyright).