Assets
Posted by
Muhammad Younus Morty
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Assets
A resource control by the entity in result of past event and from which the future economic benefit are expected to flow to the entity.
Quality of Assets.
- Own due to past event.
- provide economic benefits in future.
Type of Assets.
- Current Assets: Those assets gives benefits within one year.
- Non-Current / Fixed Assets: give benefits for more then one year.
Current Assets:
- Cash in Hand
- Cash in Bank
- Account Receivable.
- Note Receivable
- Merchandise Inventory
- Supplies
- Prepaid
- etc
Non-Current /Fixed Assets:
- Tangible
- Land & Building
- Furniture & Fixture
- Plant & Machine
- Equipment
- Vehicle
- Intangible
- Goodwill
- Copy Right
- Trade Mark
- Patent
- Software
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