Asset

In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held to have positive economic value is considered an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).

The balance sheet of a firm records the monetary value of the assets owned by the firm. It is money and other valuables belonging to an individual or business. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.

Asset (disambiguation)

An asset is an economic resource, or something of value.

ASSET or Asset may also refer to:

Business

Economics

Intelligence

Military

Space

Computing

Entertainment

Asset (economics)

An 'asset' in economic theory is an output good which can only be partially consumed (like a portable music player) or input as a factor of production (like a cement mixer) which can only be partially used up in production. The necessary quality for an asset is that value remains after the period of analysis so it can be used as a store of value. As such, financial instruments like corporate bonds and common stocks are assets because they store value for the next period. If the good or factor is used up before the next period, there would be nothing upon which to place a value.

As a result of this definition, assets only have positive futures prices. This is analogous to the distinction between consumer durables and non-durables. Durables last more than one year. A classic durable is an automobile. A classic non-durable is an apple, which is eaten and lasts less than one year. Assets are that category of output which economic theory places prices upon. In a simple Walrasian equilibrium model, there is but a single period and all items have prices. In a multi-period equilibrium model, while all items have prices in the current period. Only assets can survive into the next period and thus only assets can store value and as a result, only assets have a price today for delivery tomorrow. Items which depreciate 100% by tomorrow have no price for delivery tomorrow because by tomorrow it ceases to exist.

Law (disambiguation)

Law is a set of norms, which can be seen both in a sociological and in a philosophical sense.

Law, LAW, or laws may also refer to:

Media and entertainment

Anime and Manga

Games

Literature and publications

Wine law

Wine laws are legislation regulating various aspects of production and sales of wine. The purpose of wine laws includes combating wine fraud, by means of regulated protected designations of origin, labelling practices and classification of wine, as well as regulating allowed additives and procedures in winemaking and viticulture. Legislation affecting all kinds of alcohol beverages, such as the legal drinking age and licensing practices related to distribution and sales, are usually not considered wine laws.

Wine is regulated by regional, state, and local laws. The laws and their relative rigidity differ for New World and Old World wines. Old World wines tend to have more stringent regulations than New World wines. Various wine laws, however, may include appellation-based regulations that cover boundaries as well as permitted grape varieties and winemaking practice-such as the French Appellation d'origine contrôlée (AOC), Italian Denominazione di origine controllata (DOC), Spanish Denominación de Origen (DO) and Portuguese Denominação de Origem Controlada (DOC). In some New World wine regions, such as the United States and Australia, the wine laws of the appellation systems (American Viticultural Area (AVA) and Australian Geographical Indication (GIs)) only pertain to boundary specifics and guaranteeing that a certain percentage of grapes come from the area listed on the wine label.

Laws (surname)

Laws is a surname. Notable people with the surname include:

See also