What is an asset?
submitted by frank

Rob Winded

It is anything you own that has value. Cash is an asset. Equipment is an asset. If you have a warehouse full of products, those are assets.

Intellectual property is an intangible asset, because it still has value to your company even though it is intangible. Software is a good example. You can sell it for money, so it has a value.

Another asset is money that is owed to you. Even though it isn't currently in your possession, it does belong to you, and you will eventually collect it.