Asset
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Classification of Accounts and the Accounting Equation
MS: Aset · EN: Asset · ZH: 资产
Meaning
An asset is an economic resource owned or controlled by a business that is expected to provide future economic benefits. Assets are classified into non-current assets and current assets according to how long the benefit lasts.
Example
For example, Maju Jaya Enterprise owns a vehicle worth RM45,000, office equipment worth RM8,000 and cash of RM3,000. All of these are recorded as assets in the Statement of Financial Position.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 4