Asset Topics

• physical assets
• tracking tools
• amortized
• economic benefits
• trade names
• quotation
• goodwill
• debts
• franchises
• patents
• copyrights
• asset tracking

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Asset, Asset

Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts is considered an asset.

The following is a quotation from the IFRS Framework: "An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise." IFRS Assets are formally controlled and managed within larger organizations via the use of asset tracking tools. These monitor the purchasing, upgrading, servicing, licensing, disposal etc., of both physical and non-physical assets.

They include patents, copyrights, franchises, goodwill, trademarks, trade names, etc. These assets are (according to US GAAP) amortized to expense over 5 to 40 years with the exception of goodwill.

Source: Wikipedia > Asset