Assets

Assets are resources your business owns or controls that have value and can bring future benefit. They include cash, things you can sell or use, and rights that help you run the business. Assets are shown on the balance sheet.

To keep records clear, assets are grouped by how soon they are expected to be used or turned into cash, and by how long they support operations. Longer‑lasting items are often recorded and then expensed over time through depreciation or amortization.

How assets are commonly grouped:

• Short‑term (current): cash and cash equivalents, accounts receivable, inventory, prepaid expenses.
• Long‑term (noncurrent): property and equipment (machines, vehicles), buildings and improvements, intangible assets (software, trademarks), long‑term investments or deposits.