What are business assets?

Business assets span many categories. They can be physical, tangible goods, such as vehicles, real estate, computers, office furniture, and other fixtures, or intangible items, such as intellectual property . A business asset is a piece of property or equipment purchased exclusively or primarily for business use.

What is an example of an asset?

An asset is anything that has current or future economic value to a business. Essentially, for businesses, assets include everything controlled and owned by the company that’s currently valuable or could provide monetary benefit in the future. Examples include patents, machinery, and investments. What are intangible assets?

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.