Literally speaking, an asset is anything one currently possesses which has value to it, but when we discuss assets in relation to the world of business and, more specifically, accounting, an asset becomes any resource a company or organization owns that is able to be converted to an expression of monetary value.
These include, but are not limited to:
- Bank accounts
- Raw materials
- And government assassins (at least according to the Bourne movies).
To be considered an asset, it must be completely and totally owned by a company and be related to the contribution that results in profit or advancement of a mission (in regards to entities like non-profits).