In accounting terms, an asset refers to any resource owned or controlled by an entity that is expected to provide future economic benefits. Assets can be either tangible or intangible.
Depreciation is an accounting method that allocates the cost of a tangible asset over its useful life.
A heritage asset is a tangible asset deemed historically, artistically, or scientifically significant, often recognized for its cultural or knowledge contribution and distinctive accounting treatment.
A Tangible Asset is any asset with physical existence, such as real estate, gold, or machinery.
