Assets

Assets

Anything which is in the possession or is

the property of a business enterprise.

In Other Words-

Anything which will enable the firm

To get cash or benefit in the future is an Assets.

There is FIVE types of Assets

• Fixed Assets
• Current Assets
•  Washing Assets
• Tangible Assets
•  Intangible Assets

Fixed Assets-

Those Assets which are help for

Continued use in the business for the propose

Of producing goods services and are not meant

For resale.

Example-

   Land and  building

   Plant and machinery

    Motor car

  Furniture

Current Asstes-

Those Assets which are meant for sale

Or which the management would want to

Convert into cash within in year.

Example  

•  Stock
•  Debtors
•  Bill receivable
•  Prepaid Expenses

Washing Assets

Those Assets which are consumed thorough

Being worked or used such as mine.

Washing Assets also includes Assets which get

exhausted with the laps of time such as mines.

Example=

·      Trade marks

Tangible and intangible Assets

Tangible=

Assets which can be seen and touched

Which have a physical existence.

Example=

Land

  Machinerry

 Stock

 Cash

 Building

Intangible=

Those assets which do not have a physical

Existence which can not be seen or felt.

Example=

·        Goodwill

·        Trade Marks

·        Prepaid Expenses
      
       
      



       

Revenue

 
     Invome of recurring (regular)
 
      nature from a source.

   

it  includes

    Amount revenue from sale of goods.

   

•       Rent Receipt
•      Commission Receipt