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Intangible assets with indefinite useful lives are reassessed each year for impairment. If an impairment has occurred, then a loss must be recognized. An impairment loss is determined by subtracting the asset's fair value from the asset's book/carrying value. Trademarks and goodwill are examples of intangible assets with indefinite useful lives.
Learn what assets are, the different types you can own and how they impact your financial growth.
Wealth or savings is a stock variable – that is, it is measurable at a date in time, for example the value of an orchard on December 31 minus debt owed on the orchard. For a given amount of wealth, say at the beginning of the year, income from that wealth, as measurable over say a year is a flow variable.
Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). [1] The balance sheet of a firm records the monetary [2] value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. [1] Total assets can also be called the balance ...
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
Apart from cash, legal tender issued on the fiat of a sovereign government, [12] [13] examples of assets used as potential stores of value are: Financial assets, e.g. stocks, bonds and other fixed income investments, investment funds, private equity; Real estate, e.g. home-ownership, rental property, or through financial securities or ...
For example, it is often used as a synonym for fixed assets [10] or for investments in securities. [9] Several public sector standards in global use, notably triple bottom line accounting as defined by ICLEI for world cities, require that employees or the environment or something else be treated as a capital asset. In this context, it means ...
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), [1] of which ...