Asset

Definition

Something possessed by an organization from which future benefits can be drawn

Description

ISO 5000 defines assets as follows: "An asset is an item, thing or entity that has potential or actual value to an organization". This is deliberately wider than physical assets but these form an important focus for more organizations, i.e. assets include both tangible and intangible assets, see Fig 1.

Fig 1 Relationship between asset related terms.

References

[1] ISO 5000

Related articles

Asset management

Intangible asset

Human capital

Knowledge asset