An asset is anything, which you own and which is valuable, whether it is tangible or intangible. Assets are said to have positive economic value. Simply put an asset is something that is worth money ...

Claims and assets make up the backbone of the accounting systems. The famed accounting equation, seen in the budget sheet, is actually a rendition of total claims and total assets. Together, these two ...

When it comes to a company’s taxes, there are two important categories to understand: assets and liabilities. Tax liability is anything that a person or company owes taxes on, such as income or ...