On the Balance Sheet, What are some example of " Other Assets "?

Answer 1

IAS 1.68 says there must be the following Minimum items on the face of the balance sheet in respect of assets:

(a) property, plant and equipment;
(b) investment property;
(c) intangible assets;
(d) financial assets (excluding amounts shown under (e), (h) and (i));
(e) investments accounted for using the equity method;
(f) biological assets;
(g) inventories;
(h) trade and other receivables;
(i) cash and cash equivalents;

so assets other than the above can be called "Other assets" and might include deferred tax assets, construction-in-progress, altho' if these are material, they should be given a line of their own.

Answer 2

Vince is referring to "Goodwill" which does not have any value on the books until a company buys another company, and then only the goodwill of the company that was purchased.

Other assets are assets that don't fit in to the other asset categories of cash, FF&E, A/R, etc.

Answer 3

a couple i can think of might be-accounts in Other Assets could be: refundable deposits; short term outstanding loans (owed to the company).... But you don't HAVE to use that "other assets" account. Generally you have Fixed Assets & Other current assets (variable)...

Answer 4

A company's "good name" can have tremendous value, even though a cash equivilant amount cannot be assigned to it. This could be listed as "other assets" when calculating a company's worth.