|WikiProject Finance||(Rated C-class, Top-importance)|
|WikiProject Business / Accounting||(Rated Start-class)|
In computer science, assets can mean all kinds of data that you read from memory (instead of being part of the program itself). This means sound, graphics and such. From my own experience I've seen the word being used in games. Developers mostly use the word "resources", but some use the word assets nonetheless. —Preceding unsigned comment added by Xilliah (talk • contribs) 14:58, 25 March 2008 (UTC)
Definition of Asset
I entered a technical definition of asset to correct the previous conflation with "ownership," and emphasize that it is not "ownership" that defines an asset, (that relates to the related concept of "equity"), but "control" is the determinative factor (that excludes, in an accounting sense, any reference to legal control). --Lance6968 22:38, 5 October 2006 (UTC)
Well yes, you are, as usual, quite correct. One should not confuse an asset with the manner in which it is financed. Lance, your contributions to Wikipedia enhance human knowledge; and on behalf of all persons living and yet unborn, I hail you; may you enjoy a long life filled with many splendid things and adventures; and may Divine Providence shine upon you and all that you endeavor to do; and, ultimately, give happy effect to.
Merge Asset Class
Should asset class be merged into Asset? Avi 22:18, 12 January 2006 (UTC)
- There is no Asset Class article. Asset class is a redirect. What do you want to merge exactly? Renata 05:05, 13 January 2006 (UTC)
"Asset class" is a term of Canadian tax law wherefrom the cost of prescribed assets are added. Tax depreciation, called "capital cost allowance," is then deducted from the "asset class" balance using a "declining balance method." "Asset class" in Canada is exclusively a legal term defined without reference to the accounting or economic sense of "asset."--Lance6968 22:38, 5 October 2006 (UTC)
I think this entire explination of the term Asset is very stilted, Wikipedia is a resorce for everyone, I am sure that an account wouldn't even understand this, it seems to have been write by some one trying to prove how clever they are. My first bad result in Wikipedia. —Preceding unsigned comment added by 188.8.131.52 (talk) 17:08, 7 January 2008 (UTC)
I have one reservation as to the definition, as footnote 7 - directs to a discussion paper of the IASB. However, a definition of assets is in the Framework for the Preparation and Presentation of Financial Statements. http://eifrs.iasb.org/eifrs/bnstandards/en/framework.pdf —Preceding unsigned comment added by Bibul (talk • contribs) 06:46, 21 April 2010 (UTC)
- Yeah, merge it.HereToHelp 12:22, 13 October 2005 (UTC)
As an economics student, I'd recommend not merging. These are two separate concepts. This article (currently titled Asset) should really be titled "Asset (Business)" or "Asset (Accounting)". The article titled Asset (economics) is the more general concept, this one is a special application of it.Bhilly (talk) 19:48, 15 January 2012 (UTC)
Are shoes an asset class?
1. Features of an asset class: Flow of benefits? YES Can be excahnged for cash? YES Is the result of a monetary transaction? YES Can provide tangible or intangible benefits? YES
- future economic benifit? No, unless planning on reselling. For most people shoes are an expense. Although, it also can be argued that they do (i.e. you need shoes to go to work). In that case I would call them a fixed asset or long term asset (because they are held for more than 1 year).
2. http://news.bbc.co.uk/1/hi/world/asia-pacific/1173911.stm Imelda Marcos owned lots of assets. She converted many of these to shoes. Ergo, shoes are an asset class.
Please add your discussion on this matter!
Shoes are an asset I suppose, but they are too trivial IMO to be called an asset class. MatthewKarlsen 11:05, 23 December 2005 (UTC)
- Shoes aren't securities, though. Rhobite 15:37, 13 January 2006 (UTC)
- If some sort of secondary market exists for shoes where I'm not aware of, then yes, shoes would indeed be an asset class. Make sure to disclose them.
There are 5 major items included into current assets:
1. Cash - it is the most liquid asset, which includes currency, deposit accounts, and negotiable instruments (e.g., money orders, checks, bank drafts). 2. Short-term investments - include securities bought and held for sale in the near future to generate income on short-term price differences (trading securities). 3. Receivables - usually reported as net of allowance for uncollectible accounts. 4. Inventory - trading these assets is a normal business of a company. The inventory value reported on the balance sheet is usually the historical cost or fair market value, whichever is lower. This is known as the "lower of cost or market" rule. 5. Prepaid expenses - these are expenses paid in cash and recorded as assets before they are used or c(a common example is insurance). See also adjusting entries.
Shouldn't #3 read: " 3. Receivables - usually reported as net of allowance for UNCOLLECTED accounts."?
- No, it's right. What you said doesn't makes sense, though, because all receivables are uncollected.
asset price inflation
I think sth should be said more clearly opposing assets to goods and asset price inflation to consumption goods inflation
Move to Asset_(Business)
Asset_(Disambiguation) has four fairly standard definitions of asset on it now. Shouldnt it be the main Asset page, and this Asset be moved to Asset_(Business) ?
Any yays or nays?
Definition of Asset
An asset may be owned by any legal person which includes companies, governments, partnerships and ships, this being too cumbersome to explain in an introduciton. —Preceding unsigned comment added by DominicConnor (talk • contribs) 11:52, 14 March 2010 (UTC)
Just Another Asset
...Our Country as a Business: As a business the country sets a tax upon a monetary system. As balance is to figure, we vote in representatives to actually take on the responsibility of setting, waging, and announcing a tax. The tax is along with other few portions of the buisiness an assest. The main recognition within a society is that the society is a consideration of being an asset, then there is the money in which will flow through a society. In order for the money asset to actually be of value it would have to represent itself along with being represented by a society for the usage of it. In this degree in which money has sequence of representation. For instence if the Federal Researves Bank of United States is in issue of the Distribution of Money it is set forth to unify the asset. Amongst an asset this will happen twice. First through distribution mainly to cause a currency floatation and through the collection of the earnings of the floatational asset. This is to accumilate an earning degree to evaluate the value of the currency. As the last few sentences are discribed an asset perhaps has now ownership but will have an avaluational effort perhaps from something owned. Ownership in a-'or'-the value of an asset is the actual ability being used through or to derive an asset in this paregraphical venture by David George DeLancey it is the Money. Money being involved in U.S. History as being an Invention can be declared by an endity to be of ownership. Money has the value and representation as """"A Legal Tender and Binding"""" towards a public. Money has the same representation as Law, any any other form of litery fact conducted as a whole through a public. Police, Department, Court, National, Country, State, Order, some words and termings rank top on the list as usage through a society. Money is if not after Law one of them. You have to have Law in order to have money then again if a place will start from nothing perhaps it could start from a formed trade or an exceptance of a sort, it then may be considered to be a law. What will you own. If Money is on the list reread the paregraphical venture exerted here defining an Asset in perhaps the number one business in your society. Do you knoe that the biggest Non-Profit Organization is the United States of America. And there are some of us whom can not even send it a dollar just to say we did.David George DeLancey (talk) 21:10, 28 November 2010 (UTC)
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