An asset is something that is expected to yield a benefit in a future period. If an asset is expected to be entirely consumed within the current period, then it is instead charged to expense in the current period. In a business, assets are aggregated into different line items on the balance sheet.
Examples of assets that are found on the balance sheet are as follows (presented in alphabetical order):
- Bond investments
- Building fixed assets
- Cash
- Certificate of deposit investments
- Commercial paper investments
- Computer equipment fixed assets
- Computer software fixed assets
- Finished goods inventory
- Furniture and fixture fixed assets
- Land fixed assets
- Leasehold improvement fixed assets
- Loans receivable from employees
- Machinery fixed assets
- Money market investments
- Non-trade receivables
- Notes receivable
- Office equipment fixed assets
- Raw materials inventory
- Stock in other companies
- Trade receivables
- Vehicles fixed assets
- Warrants to purchase shares
- Work-in-process inventory
Some fixed assets are classified as intangible and are recorded on the balance sheet within a separate line item. These items are either purchased or obtained as part of an acquisition. Examples of assets (these intangible assets) are:
- Brand names
- Broadcast licenses
- Copyrights
- Domain names
- Easements
- Film libraries
- Franchise agreements
- Goodwill
- Landing rights
- Licenses
- Mineral rights
- Patents
- Permits
- Royalty agreements
- Supplier contracts
- Trademarks
Some assets are not found on the balance sheet, typically because they are internally-generated assets or valuable processes that the accounting standards do not allow an organization to recognize as assets. Examples of these non-recognized assets are:
- Internal quality control processes
- Internal research and development processes
- Staff training investments
- The value of a brand image
