Asset is an item generally appearing on the business Balance Sheet. It represents an economic value that can be used by the business to produce revenue and earn a profit.
What It Means
Business assets are valuable possessions that are used in business activities to produce revenues and profits. Typical assets appearing on the Balance Sheet are:
In addition, a number of important business assets may not appear on the company's balance sheet:
Similar to the calculation of business value, there are three ways to determine the value of a business asset:
Business Valuation Tools