• An asset is a resource with economic value that is owned or managed by an individual, corporation or country with the expectation that it will provide benefits in the future.

  • Assets are reflected in the company’s balance sheet.
  • They are bought or created to increase the value of the firm or improve the performance of the firm.
  • An asset is something that can generate cash flow, reduce costs, or improve sales, whether it’s manufacturing equipment or a patent.
  • Assets can be classified as current, fixed, financial or intangible.