Property and items of value owned by a person or business. The primary classifications of assets are: Property and items of value owned by a person or business. The primary classifications of assets are: • Current assets—cash and other liquid instruments, including accounts receivable, that can be converted to cash within one year maximum • Long-term assets—plants, equipment, real estate, and other capital assets; net of depreciation • Prepaid and deferred assets—expenditures for future costs or expenses, such as insurance, interest, or rent, that are set up as assets to be amortized over an applicable period • Intangible assets—assets with a determined value but that may not be scalable, such as goodwill, patents, copyrights, and brand-name recognition
A type of investment, such as stocks, bonds, real estate, or cash.
Company assets that are reasonably expected to be realized in cash, sold, or consumed during one year. These include cash, U.S. government bonds, receivables, money due usually within one year, and inventories.