Assets

Assets include bonds purchased as investments and physical assets such as production plants. Assets are a company's tangible and intangible valuables. Companies also categorize assets as either short-term or long-term assets based on how long the company will have the asset.

Tangible Assets
Tangible assets are physical items, such as plants, property and equipment.

Intangible Assets
Intangible assets are nonphysical items, such as trademarks and copyrights. Although companies cannot easily see or touch intangible assets, these assets still have value.

Short-term < One Operating Period
Long-term > One Operating Period

Companies expect to have short-term assets for less than one operating period.

Companies expect to have long-term assets for more than one operating period.