An asset is a resource owned by an individual, corporation or country that controls the item with the expectation that it will produce a benefit or cash flow in the future. Assets are typically reported on a firm’s balance sheet and are bought or created to increase a firm’s value or enhance a firm’s operations.
An asset is an item, process or agreement that will generate future cash flows, reduce expenses, benefit sales volumes as a product or a service. An asset is an economic resource for a company that can be used or limited by the owner of the asset.