An asset is something valuable that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit. Assets can take many forms, including physical assets such as real estate, tangible assets such as machinery or jewelry, and financial assets such as stocks, bonds, and bank deposits.    

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Assets are important because they can be used to produce income, be sold for a profit, or be used as collateral for a loan. For businesses, assets are used to generate revenue and support growth. For individuals, assets can help build wealth and provide financial security. In accounting, assets are recorded on a balance sheet and are classified as either current assets (assets that are expected to be converted into cash within one year) or long-term assets (assets with a useful life of more than one year).

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