assets in accounting
What are assets?
The asset represents all the assets and rights of a company, acquired in the past and with which it is expected to generate a future profit.
The formula to calculate it is the following:
Assets = Liabilities + Equity
Asset components
Non-current assets
current assets
current assets EXAMPLE
• Box
• Banks
• Customers
• Debtors
• Documents receivable
• Vat receivable
• Commodity
• Stationery and office supplies
• Packing material
Noncurrent assets example
• Estate
• Furniture and equipment
• Computer equipment
• Vehicles
• Machinery
Assets and their loss of value or depreciation
An asset can lose value over time. This loss of value due to its use or during the life of the asset is known as depreciation.
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Assets in accounting - GLENNY CHAVARRIA
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Created on October 27, 2021
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Transcript
assets in accounting
What are assets?
The asset represents all the assets and rights of a company, acquired in the past and with which it is expected to generate a future profit.
The formula to calculate it is the following: Assets = Liabilities + Equity
Asset components
Non-current assets
current assets
current assets EXAMPLE
• Box • Banks • Customers • Debtors • Documents receivable • Vat receivable • Commodity • Stationery and office supplies • Packing material
Noncurrent assets example
• Estate • Furniture and equipment • Computer equipment • Vehicles • Machinery
Assets and their loss of value or depreciation
An asset can lose value over time. This loss of value due to its use or during the life of the asset is known as depreciation.
learning video
Thank you