Definition of asset

Asset

An item of value owned by a company or a right to future economic value. Fixed or non-current assets are the assets for continuing use in the business (e.g. factories), while current assets are usually those which are convertible into cash within 12 months (e.g. inventories - stocks of goods for resale).

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The Basics of Business Finance – Essentials Online Course
This course is designed to give you a good understanding of the basics of business finance. You will learn how businesses are funded and what the money’s used for; how they make profits and generate cash; how to measure business performance; where to find the information you’ll need.  You’ll see how income statements and balance sheets work and you’ll also understand key financial jargon, concepts and commonly used financial metrics. 
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