LonelyBeef
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Could anyone give me a hand with the idea of assets, I'm struggling to get my head round them. I understand that they are 'possesions' of a business in a way, but apart from that I don't understand much else.
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She-Ra
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I've moved this to business for you

:hat2:
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War-Mac
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(Original post by LonelyBeef)
Could anyone give me a hand with the idea of assets, I'm struggling to get my head round them. I understand that they are 'possesions' of a business in a way, but apart from that I don't understand much else.

Assets are the things the business own that are used for and by the business. A building company might own a van, a building and a cement mixer. Because all 3 of these things are owned by the business they are the companies assets. If the company needs to raise finance, the business can sell assets (the van, building and cement mixer). Also if the business was to take on a loan and could not make the payments. If the owner has unlimited liability, then the bank can claim the assets and sell them off to pay the debts.

I hope this helps
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LonelyBeef
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(Original post by War-Mac)
Assets are the things the business own that are used for and by the business. A building company might own a van, a building and a cement mixer. Because all 3 of these things are owned by the business they are the companies assets. If the company needs to raise finance, the business can sell assets (the van, building and cement mixer). Also if the business was to take on a loan and could not make the payments. If the owner has unlimited liability, then the bank can claim the assets and sell them off to pay the debts.

I hope this helps
Great, thanks
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georginahir123
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overall, assets are something a business owns.
they come in two categories: current assets and non-current assets.
current assets are things that the business currently owns but its on a short-term basis for example stock and raw materials - as they own them now but wish not to in the future
where as non-current assets are things a business owns on a fixed term basis - e.g. building premesis and vehicles - these generally function the general day-to-day activities.
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