What Are Assets in Accounting?
Understanding assets in accounting can help businesses obtain both short- and long-term financial goals.
The term "asset" is often heard when the financial value of a business is being assessed. An asset can be any resource that an individual or a corporation controls and generates a positive economic benefit for its owner. Personal assets contribute to a person's wealth, while business assets are for corporations and are listed on balance sheets and used against liabilities and equity. Here is a primer on assets, including how they work and how to determine their value.
Original Article Source Credits: Business.com
Article Written By: Sean Peek
Original Article Posted on: Jun 10, 2021
Link to Original Article: https://www.business.com/articles/assets-in-accounting/