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Exploring the Nature of AssetsAsset

In: Decoding Digital Assets

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  • Leon V. Schumacher

Abstract

Summary This chapter discusses the concept of assets in both the physical and crypto worlds. An asset, as defined by the International Financial Reporting Standard (IFRS), is a resource controlled by an entity that is expected to bring future economic benefits. Assets, crucial for financial health, are divided into current and fixed assets. Current assets, like cash, cash equivalents, short-term deposits, accounts receivables, inventory, and marketable securities, are easily convertible into cash. Fixed assets, including land, buildings, equipment, patents, and trademarks, are not readily liquid but essential for long-term growth. The chapter also touches on the fungibility of assets, where fungible assets like a $5 bill have identical characteristics and are interchangeable, while non-fungible assets are unique and not interchangeable. This understanding is vital in evaluating financial health and potential.

Suggested Citation

  • Leon V. Schumacher, 2024. "Exploring the Nature of AssetsAsset," Springer Books, in: Decoding Digital Assets, chapter 0, pages 45-48, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-54601-3_8
    DOI: 10.1007/978-3-031-54601-3_8
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