Why is an asset an asset

Glossary: ‚Äč‚Äčasset

financial assets are economic resources that have some value or use (which can usually be converted into amounts of currency) and that are owned by companies or individuals, such as a machine or a house. According to the principles of international accounting (des International Accounting Standards Board) assets are the result of events in the past from which future economic benefits are expected.

In the context of national accounts, assets are defined as stores of value in which institutional units have individual or collective ownership rights and from whose possession or use during a certain period of time the owners can obtain economic benefits (economic benefits are primary income from the use of the asset and the amount that can be realized upon sale or liquidation of the asset, including holding gains).

According to the ESA 2010 (point 7.15), assets are defined as "An economic asset is a store of value and represents income that the beneficial owner achieves by holding or using the unit for a period of time Billing period to be carried over to the next ".

Assets can be divided into three main categories:

  • produced assets (AN.1),
  • non-produced assets (AN. 2) and
  • financial assets (AF.A).

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