Assets include anything that is owned and controlled by the business.
Current Assets include Cash, and things that can be expected to easily convert to cash: Receivables, Inventory, Prepaid Expenses and Short-Term Investments.
Fixed Assets include Property, Plant & Equipment, Intellectual Property, Goodwill, Long-Term Investments and other assets that have a more ‘permanent’ nature; they are intended to be held for the long term, not ‘turned over’ in the normal business cycle.
Balance Sheet Equation: Total Assets = Total Liabilities + Equity |
See also Current Assets and Fixed Assets.
term list.