Assets means property. For a company, organization or individual, assets are those things on which they hold the ownership rights and they have financial benefit on them, those things are assets for them.
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What are assets??
Everything that makes you money is called an asset. The term assets is used to represent the assets of any company, organization, corporation, country or individual. Factories, machines, cash, brands, patents etc.
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Type of Assets
There are generally four types of assets in India. Current, fixed, financial and intangible and there are many types within these.
Current Assets
Anything that is expected to last for a year or less is considered a current asset. It is of 6 types. Everything that can be sold to get money or converted into money or whose value becomes zero after a year.
- Cash and cash equivalent
- Inventory
- Ongoing projects
- Pre-paid expenses
- Account receivable
- Marketable securities
Fixed Assets
Assets that cannot be easily converted into cash and their value is more than one year, which are owned by a company or individual and are used to run the business or to acquire land. Generally, these are of 8 types in India.
- Land
- Buildings
- Machines
- Equipment
- Furniture
- Computers
- Vehicle
- Hardware
Financial Assets
Financial assets are broadly classified into several types, but there are six types. Each has its own significance, indicating benefits and risks. Here are the most common types of financial assets
- stocks
- sovereign
- corporate bonds
- preferred equity
- hybrid securities
- Loans
- Deposit
Intangible Assets
Intangible assets are called intangible assets. That is, we cannot see or touch these assets like software, copyright, license etc. Generally, there are 10 types of these in India.
- Computer software
- Licences
- Trademarks
- Patents
- Copyrights
- Goodwill
- Brand value
- Franchises
- Trade names
- Digital assets like software or cryptocurrency
Assets meaning ?
Assets means property in Hindi, it is that property with which you can earn more money from this money. Or in other words, make money from money.
Example of Assets
Examples of financial assets are stocks, bonds, mutual funds, fixed deposits, recurring deposits, land, expensive cars.