An asset is an economic resources owned by a business that is expected to be of benefit to the business in the future. Cash, equipment, furniture, land, building, copyright, copyrights, goodwill are examples. The most basic tool of the accountant is the accounting equation, e.g. Assets = Liabilities + Owner’s equity, the mathematical structure of the balance sheet.

Assets are listed on the balance sheet and are often divided into current assets, Long-term assets or capital assets, and intangible assets.