asset is something which can be changed into cash at any time.... eg: buliding, machine , computer ....etc.
there are two kind ot asset ...
1) tangable ....which can be touch physically. and
2) intangable...which can be feels only lilke goodwill,patents, trade mark ....etc.
Any item which is expected to used in the business for earnings and profit is called asset. There are two types of assets on the bases of their uses as :
Short term assets or current assets and;
Long term assets or fixed assets.