In simple words, an asset is something of value that you own and can convert to cash. Your car is an asset and so is your house because you could sell either one and receive its value in cash.

An asset constitutes anything that holds monetary value, whether current or future, to a person or organization. Businesses, governments and non-profits all own assets. So do many people. An asset is ...

Accounting divides your company assets into two classes: current and long-term. Current assets include cash and anything you use up or convert to cash over the next 12 months. Typical examples are ...