AssetsAnything owned by the company with a monetary value; For example, Fixed Assets like Buildings, Plant and Machinery, Vehicles (these are not assets if rented and not owned) and potentially including intangibles like trade marks and brand names, and Current Assets, such as stock, debtors and cash. An important distinction is made in accounting between "current assets" and "fixed assets". Current assets are those that form part of the circulating capital of a business. They are replaced frequently or converted into cash during the course of trading. The most common current assets are stocks, trade debtors, and cash. Compare current assets with fixed assets. A fixed asset is an asset of a business intended for continuing use, rather than a short-term, temporary asset such as stocks. Fixed assets must be classified in a company's balance sheet as intangible, tangible, or investments. Examples of intangible assets include goodwill, patents, and trademarks. Examples of tangible fixed assets include land and buildings, plant and machinery, fixtures and fittings, motor vehicles and IT equipment.
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