Asset Category
Asset refers to any resource owned by an individual or organization that holds economic value and can generate future benefits. These resources can be tangible, such as machinery, real estate, and inventory, or intangible, including intellectual property, patents, and trademarks. Effective asset management involves tracking, valuing, and optimizing assets to maximize returns and ensure financial stability. Businesses rely on accurate asset reporting to assess performance, support investment decisions, and comply with regulatory requirements.