


In financial accounting, assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset. Simply stated, assets represent ownership of value that can be converted into cash (although cash itself is also considered an asset).
The balance sheet of a firm records the monetaryJ. G. Siegel, N. Dauber & J. K. Shim, "The Vest Pocket CPA", Wiley, 2005. There are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the ''Historical Cost'' is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet.
Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.
In the financial accounting sense of the term, it is not necessary to be able to legally enforce the asset's benefit for qualifying a resource as being an asset, provided the entity can control its use by other means.
It is important to understand that in an accounting sense an asset is not the same as ownership. Assets are equal to "equity" plus "liabilities."
The accounting equation relates assets, liabilities, and owner's equity:
:Assets = Liabilities + Stockholder's Equity (Owner's Equity)
The accounting equation is the mathematical structure of the balance sheet.
Assets are listed on the balance sheet. Similarly, in economics an asset is any form in which wealth can be held.
Probably the most accepted accounting definition of asset is the one used by the International Accounting Standards Board . The following is a quotation from the IFRS Framework: "An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise."
Assets are formally controlled and managed within larger organizations via the use of asset tracking tools. These monitor the purchasing, upgrading, servicing, licensing, disposal etc., of both physical and non-physical assets.
In a company's balance sheet certain divisions are required by generally accepted accounting principles (GAAP), which vary from country to country.
Current assets are cash and other assets expected to be converted to cash, sold, or consumed either in a year or in the operating cycle (whichever is shorter), without disturbing the normal operations of a business. These assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets: # Cash and cash equivalents — it is the most liquid asset, which includes currency, deposit accounts, and negotiable instruments (e.g., money orders, cheque, bank drafts). # Short-term investments — include securities bought and held for sale in the near future to generate income on short-term price differences (trading securities). # Receivables — usually reported as net of allowance for uncollectable accounts. # Inventory — trading these assets is a normal business of a company. The inventory value reported on the balance sheet is usually the historical cost or fair market value, whichever is lower. This is known as the "lower of cost or market" rule. # Prepaid expenses — these are expenses paid in cash and recorded as assets before they are used or consumed (a common example is insurance). See also adjusting entries. Marketable securities Securities that can be converted into cash quickly at a reasonable price
The phrase ''net current assets'' (also called ''working capital'') is often used and refers to the total of current assets less the total of current liabilities.
Different forms of insurance may also be treated as long term investments.
Also referred to as PPE (property, plant, and equipment), these are purchased for continued and long-term use in earning profit in a business. This group includes as an asset land, buildings, machinery, furniture, tools, and certain wasting resources e.g., timberland and minerals. They are written off against profits over their anticipated life by charging depreciation expenses (with exception of land assets). Accumulated depreciation is shown in the face of the balance sheet or in the notes.
These are also called capital assets in management accounting.
Intangible assets lack of physical substance and usually are very hard to evaluate. They include patents, copyrights, franchises, goodwill, trademarks, trade names, etc. These assets are (according to US GAAP) amortized to expense over 5 to 40 years with the exception of goodwill.
Websites are treated differently in different countries and may fall under either tangible or intangible assets.
They can represent a large portion of intangible and tangible asset of an organization.
If these assets become unavailable, business operations can be disrupted. Confidential information disclosure can represent a huge liability.
While evaluating the potential loss tied to an asset or a group of assets, the value tied to the largest sum between the related asset and their value should be considered.
Category:Accounting terminology
af:Bate ar:أصول ca:Actiu (comptabilitat) cs:Aktivum (účetnictví) da:Aktiv de:Aktiva es:Activo (contabilidad) eu:Aktibo fa:دارایی fr:Actif (finances) ko:자산 hr:Aktiva id:Aset it:Cespite lt:Aktyvas hu:Eszköz (számvitel) ms:Aset nl:Activa ja:資産 no:Aktiva pl:Aktywa pt:Ativo ro:Active ru:Актив sq:Aset simple:Assets sr:Aktiva sv:Tillgång ta:சொத்து uk:Актив vi:Tài sản zh:资产This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
| Coordinates | 45°30′″N73°40′″N |
|---|---|
| Name | Robert Kiyosaki |
| Birth date | April 08, 1947 |
| Birth place | Hilo, Hawaii, United States |
| Occupation | Investor, Entrepreneur, Author, Motivational Speaker |
| Spouse | Kim Kiyosaki |
| Website | }} |
Robert Toru Kiyosaki, born April 8, 1947) is an American investor, businessman, self-help author and motivational speaker. Kiyosaki is best known for his ''Rich Dad Poor Dad'' series of motivational books and other material published under the Rich Dad brand. He has written 15 books which have combined sales of over 26 million copies. Although beginning as a self-publisher, he was subsequently published by Warner Books, a division of Hachette Book Group USA. His new books appear under the Rich Dad Press imprint. Three of his books, ''Rich Dad Poor Dad'', ''Rich Dad's CASHFLOW Quadrant'', and ''Rich Dad's Guide to Investing'', have been on the top 10 best-seller lists simultaneously on ''The Wall Street Journal'', ''USA Today'' and the ''New York Times''. ''Rich Kid Smart Kid'' was published in 2001, with the intent to help parents teach their children financial concepts. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" CDs and disks.
Kiyosaki left the Marine Corps in 1975 and got a job selling copy machines for the Xerox Corporation. In 1977, Kiyosaki started a company that brought to market the first nylon and Velcro "surfer" wallets. The company was moderately successful at first but eventually went bankrupt. In the early 1980s, Kiyosaki started a business that licensed T-shirts for Heavy metal rock bands. In 1997, he launched Cashflow Technologies, Inc. which owns and operates the ''Rich Dad'' and ''Cashflow'' brands.
Kiyosaki stresses financial literacy as the means to obtaining wealth. He says that life skills are often best learned through experience and that there are important lessons not taught in school. He says that formal education is primarily for those seeking to be employees or self-employed individuals, and that this is an "Industrial Age idea." And according to Kiyosaki, in order to obtain financial freedom, one must be either a business owner or an investor, generating passive income.
Kiyosaki often refers to "The CASHFLOW Quadrant," a conceptual tool which he developed to categorize the four major ways income is earned. Depicted in a diagram, this concept entails four groupings, split with two crossed lines (one vertical and one horizontal). In each of the four groups there is a letter representing a way in which an individual may earn income. The letters are as follows.
Kiyosaki has been seen giving financial advice on various network television news channels.
This speech was the subject of a CNN story.
Kiyosaki's criticisms are supported by the founder of the mutual fund Vanguard, John C. Bogle. In a ''Frontline'' episode titled "401(k)s: The New Retirement Plan, For Better or Worse", Bogle stated that management fees and trading costs gobble up approximately 2.5% of an investor's annual returns and approximately 80% of an investor's long term gains. He says management costs reduce the value of a $1,000 investment over 65 years from approximately $140,000 at 8% compounded annually to a mere $30,000 at 5.5% compounded annually. Bogle's solution is to utilize index funds, which charge as little as 0.09%, to substantially reduce or eliminate management fees.
ABC ran a 20/20 segment on May 19, 2006 in which Kiyosaki was to advise three entrepreneurs on how to make money. They were given $1000 and 20 days to try to make the most money possible. One earned a return of 24%, the second earned a return of 54% and gave it all to charity, and the third lost 100% because she invested in machines that could not be delivered in 20 days. The contestants alleged that Kiyosaki never gave concrete advice. "All he [Kiyosaki] does is, I guess, is open your mind to the possibility. He doesn't tell you how to do it." Kiyosaki responded that failure is important to learning. At the end, 20/20 asks, "Does anyone really need 18 books to learn to fail?"
The Wall Street Journal criticized ''Why We Want You To Be Rich'' by Kiyosaki and Trump as did Kiplinger's Personal Finance.
There are also those who claim that some of the things he teaches are incorrect, and based on false claims including those working for Robert Kiyosaki.
The Canadian Broadcasting Corporation consumer affairs program Marketplace ran an investigative piece on Kiyosaki's questionable business practices on Jan 29, 2010. It includes interviews with Kiyosaki.
Category:1947 births Category:Living people Category:American business writers Category:American finance and investment writers Category:American military personnel of the Vietnam War Category:American businesspeople Category:American investors Category:Businesspeople in real estate Category:American motivational speakers Category:American motivational writers Category:American self-help writers Category:People from Hilo, Hawaii Category:Writers from Hawaii Category:Businesspeople from Hawaii Category:Stock traders Category:Currency traders Category:American writers of Japanese descent Category:United States naval aviators Category:United States Marine Corps officers Category:Recipients of the Air Medal Category:United States Merchant Marine Academy alumni Category:American military personnel of Japanese descent Category:People associated with Direct Sales
ca:Robert Kiyosaki cs:Robert Kiyosaki da:Robert Kiyosaki de:Robert Kiyosaki et:Robert Kiyosaki es:Robert Kiyosaki fa:رابرت کیوساکی id:Robert Kiyosaki it:Robert Kiyosaki he:רוברט קיוסאקי lt:Robert Kiyosaki hu:Robert Kiyosaki nl:Robert Kiyosaki ja:ロバート・キヨサキ pl:Robert Kiyosaki pt:Robert Kiyosaki ro:Robert Kiyosaki ru:Кийосаки, Роберт sah:Роберт Кийосаки fi:Robert Kiyosaki sv:Robert Kiyosaki uk:Роберт Кійосакі vi:Robert Kiyosaki zh:羅伯特·清崎This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
| Coordinates | 45°30′″N73°40′″N |
|---|---|
| Name | Round Table |
| Source | Arthurian legend |
| First | Roman de Brut |
| Creator | Wace |
| Type | Fictional table |
| Genre | Fantasy |
| Owner | King Arthur |
Though no Round Table appears in the early Welsh texts, Arthur is associated with various items of household furniture. The earliest of these is Saint Carannog's mystical floating altar in that saint's 12th century ''Vita''; in the story Arthur has found the altar and attempts unsuccessfully to use it for a table, and returns it to Carannog in exchange for the saint ridding the land of a meddlesome dragon. Arthur's household furniture figures into local topographical folklore throughout Britain as early as the early 12th century, with various landmarks being named "Arthur's Seat", "Arthur's Oven," and "Arthur's Bed-chamber." A henge at Eamont Bridge near Penrith, Cumbria is known as "King Arthur's Round Table". The still-visible Roman amphitheatre at Caerleon has been associated with the Round Table and has been suggested as a possible source for the legend.
In 2010, following archaeological discoveries at the Roman ruins in Chester, some writers suggested that the Chester Roman Amphitheatre was the true prototype of the Round Table but English Heritage, acting as consultants to a History Channel documentary in which the claim was made, declared that there was no archaeological basis to the story.
The prose cycles of the 13th century, the Lancelot-Grail cycle and the Post-Vulgate Cycle, further adapt the chivalric attributes of the Round Table. Here it is the perfect knight Galahad, rather than Percival, who assumes the empty seat, now called the Siege Perilous. Galahad's arrival marks the start of the Grail quest as well as the end of the Arthurian era. In these works the Round Table is kept by King Leodegrance of Cameliard after Uther's death; Arthur inherits it when he marries Leodegrance's daughter Guinevere. Other versions treat the Round Table differently, for instance Italian Arthurian works often distinguish between the "Old Table" of Uther's time and Arthur's "New Table."
The artifact known as the "Winchester Round Table," a large tabletop hanging in Winchester Castle bearing the names of various knights of Arthur's court, was probably created for a Round Table tournament. The current paintwork is late; it was done by order of Henry VIII of England for Holy Roman Emperor Charles V's 1522 state visit, and depicts Henry himself sitting in Arthur's seat above a Tudor rose. The table itself is considerably older; dendrochronology calculates the date of construction to 1250–1280—during the reign of Edward I—using timber from store felled over a period of years. Edward was an Arthurian enthusiast who attended at least five Round Tables and hosted one himself in 1299, which may have been the occasion for the creation of the Winchester Round Table. Martin Biddle, from an examination of Edward's financial accounts, links it instead with a tournament Edward held near Winchester on April 20, 1290, to mark the betrothal of one of his daughters.
Category:Arthurian legend Category:Tables (furniture)
ar:طاولة مستديرة br:An Daol Grenn bg:Кръгла маса ca:Taula Rodona cs:Kulatý stůl cy:Y Ford Gron da:Runde bord de:Runder Tisch el:Στρογγυλή Τράπεζα es:Mesa Redonda eo:Ronda Tablo eu:Mahai Borobila fr:Table ronde ko:원탁 io:Ronda tablo it:Tavola Rotonda hu:Kerekasztal nl:Ronde Tafel ja:円卓 no:Det runde bord pl:Rycerze Okrągłego Stołu ru:Круглый стол simple:Round Table sv:Runda bordet uk:Круглий стіл zh:圆桌骑士This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
Together with David Winner he translated a book about Johan Cruyff, The Netherlands best-ever footballer titled ''Ajax, Barcelona, Cruyff, The ABC of an destinate Maestro'' by Frits Barend and Henk van Dorp.
In early 2009, van Dam launched a series on BBC2 entitled Million Dollar Traders that aimed to educate eight ordinary people about the stock market and to encourage the public to take greater control of their personal finances in the wake of the global financial crisis.
Later that year, a companion book How to Make Money Trading was released in order to expand on the trading techniques featured in the television series.
In November 2010, he launched The Lex van Dam Trading Academy which aims to teach people how to trade and how to invest.
This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
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