KALYAN CITY LIFE

Sharing Wisdom and Vivid Memories of Life

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Kalyan City is a fast emerging residential township in the Thane district of Maharashtra state, India. It is a central suburban town and resides 54 kms north-east of Mumbai. This blog regularly shares quality academic materials. Here we also document our unique experiences and vivid memories of life. Read our lucid informative articles to excel your understanding, knowledge and success.

Team

Articles published on Kalyan City Life blog are inspired from our work experience, field research, study of various good books and papers, seminars and consultations from subject scholars. Our unique collection of useful study notes is an outcome of a team effort and hard work of Gaurav Akrani, Prof. Mudit Katyani and Manoj Patil.

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What is Asset? Meaning, Definition, Examples of Assets



square Meaning of Asset


Asset means a financial or an economic resource.

Asset includes all those things (either tangible or intangible ones) which are capable of being owned or leased out (rented) to generate a value (price) or returns in present and in the future.

meaning of asset

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square Definition of Asset


In general, the definition of an asset can be stated as follows,

“An asset is a financial or economic resource controlled either by an individual or organization, as a result of their past and present actions, from which future paybacks are expected to occur.”

square Examples of Assets


The importance of an asset depends on its use by an individual or organization. Some common examples of assets based on their significance from an individual's and organization's perspective are depicted below.

examples of assets

Generally, examples of assets owned by an individual includes:

  • Residential flat,
  • Commercial shop (given on rent),
  • Automobile,
  • Agricultural land,
  • Farm house,
  • Jewellery made from platinum, gold, silver, diamonds, pearls, etc.

Examples of assets that belong to an organization are:

  • Factory land,
  • Factory and office building,
  • Plants and machineries,
  • Office furniture and fixtures,
  • Office equipments,
  • Data servers,
  • Office vehicles, etc.

Thus, anything tangible or intangible which has a value or a capacity to generate revenue with or without the help of materials, labour (skilled, semi-skilled or unskilled) or infrastructure shall be considered as an asset.





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