I am doing an economic project. It is to create our own company. The teacher told us to explain the company's assets. What does that mean?
2007-01-15 17:02:20 · 13 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
assets are things or copyrights etc which have value to the company.
an obvious asset could be a building that is owned by the co.
or a factory or machinery etc,these are fixed assets also furniture and fittings etc
some of these assets are depreciated or "written off" over a period of time(tax deductible).it is optional sort of but buildings could be reflected at $1 value in the books but actually be worth millions on the open market.
debtors (ie people or companies that owe you money),cash in the bank, and stock (ie the goods that you sell,if any) are all current assets meaning that they are easily convertible into money.
people are assets but not usually included in the balance sheet
of a co.! know how is also an asset not reflected,but needed to be successful .reputation and name is a similar concept.
hope this helps a bit
2007-01-15 17:19:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What the business owns, as in property, warehouses, etc. Assets are things that have some value to the company. Even an employee can be a valuable asset.
The definition provided by the source below states: "An economic resource belonging to a company or entity, an item owned by the company or entity; an asset has future economic benefit and is the result of past financial transaction."
2007-01-15 17:05:22 · answer #2 · answered by Mickey Mouse Spears 7 · 0⤊ 0⤋
Something that the company owns outright that is of value, say a company van or a computer that the company owns, it's an asset. While an expense would be if they bought the van, but then the following accounting period it would be an asset. Though a van and a computer could both be considered a depreciating asset because they lose their value over time and become less valuable as well.
2007-01-15 17:07:23 · answer #3 · answered by jimstock60 5 · 0⤊ 0⤋
Company assets are something a company owns that produces a profit.
For example, machinery, shares (as long as they are paying a dividend).
As opposed to a liabilty; which is something that uses up money, not producing any.
There are different types of assets; current, fixed etc,
You can see a list with explanations at:
http://en.wikipedia.org/wiki/Assets
2007-01-15 17:06:58 · answer #4 · answered by Yellowstonedogs 7 · 0⤊ 0⤋
You seriously need to get legal advice from a lawyer.... In some states when a marriage was only 3 years, the 50% rule does not kick in... Considering your wife has lived over seas for half the time of your marriage, might have a play in the divorce decision. Seriously, get a lawyer and be sure to prove that the house and company were before the marriage. especially with the marriage so young.
2016-05-24 20:50:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It would be dependent on the type of company. For instance, if it was a freight company, then the trucks and other machinery, shed/warehouse etc are all assets.
2007-01-15 17:07:42 · answer #6 · answered by jammer 6 · 0⤊ 0⤋
Anything the company owns. All the way from the building to the pencils and everything in between.
2007-01-15 17:06:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Anything a company owns, including cash investments and property
2007-01-15 17:06:53 · answer #8 · answered by mf88 1 · 0⤊ 0⤋
when we said company assets, these are the company resources that the company used in its operation to have revenues..
2007-01-15 17:11:53 · answer #9 · answered by cha38_0011 1 · 0⤊ 0⤋
Anything that helps bring the company profit. It can anything from buildings to employees.
Without employees, who's gonna get stuff done? You?
2007-01-15 17:12:19 · answer #10 · answered by Anonymous · 0⤊ 0⤋