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Types of Assets

Accounts Receivable
Accounts Receivable

Accounts receivable is the amount owed to a seller by a customer. As such, it is an asset, since it is convertible to cash on a future date. Accounts receivable is listed as a current asset in the balance sheet, since it is usually convertible into cash in less than one year.

Cash
Cash

Assets are often grouped into two broad categories: liquid assets and illiquid assets. A liquid asset is one that can be converted into cash quickly with little to no effect on the price received. For example, stocks, money market instruments and government bonds are liquid assets.

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Cash Equivalents
Cash Equivalents

Cash equivalents are investments securities that are for short-term investing, and they have high credit quality and are highly liquid. Cash equivalents, also known as "cash and equivalents," are one of the three main asset classes, along with stocks and bonds.

Commodities
Commodities

All commodities are assets but all assets may not be commodities. Asset is a very wide term. It includes fixed assets like building, machinery etc.; current assets like commodities, stock and even debtors; investments like in equity shares of another company etc.

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Finished Goods / Inventory
Finished Goods / Inventory

Popular Terms. A reflection of the amount of manufactured product in stock that is available for customer purchase. On an income statement, the finished goods inventory is considered an asset to the company.

Inventory
Inventory

BREAKING DOWN 'Inventory' Inventory is the finished goods or goods used in production held by a company. Inventory is classified as a current asset on a company's balance sheet, and it serves as a buffer between manufacturing and order fulfillment.

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Marketable Securities
Marketable Securities

Marketable securities are liquid financial instruments that can be quickly converted into cash at a reasonable price. Marketable securities are liquid financial instruments that can be quickly converted into cash at a reasonable price.

Prepaid Expenses
Prepaid Expenses

While prepaid expenses are initially recorded as assets, their value is expensed over time as the benefit is received onto the income statement, because unlike conventional expenses, the business will receive something of value in the near future.

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Property
Property

An asset is anything of value that can be converted into cash. Assets are owned by individuals, businesses and governments. Examples of assets include: Cash and cash equivalents – certificates of deposit, checking and savings accounts, money market accounts, physical cash, Treasury bills; Real property – land and any structure that is ...

Raw Materials
Raw Materials

Raw Materials. Raw materials inventory consists of the "stuff" that will get turned into the products you make. It includes truly raw materials, such as wood, sheet metal or plastic, as well as materials and components purchased from suppliers for use in production.

Short-Term Deposits
Short-Term Deposits

Short Term Deposit Example: For example, Short Term Deposits will often be offered by banks and financial institutions with a fixed rate of interest and maturity date. The depositor of the funds does so with the understanding that the funds will not be available to them until the maturity date of the investment arrives.

source: deposits.org
Work in Progress
Work in Progress

What is 'Work-In-Progress (WIP)' Work-in-progress (WIP) is a production and supply-chain management term describing partially finished goods awaiting completion. WIP refers to the raw materials, labor, and overhead costs incurred for products that are at various stages of the production process. WIP is a component of the inventory asset account on the balance sheet.

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