Assets
A company's asset may be tangible or intangible, and it may be current asset, other asset and capital asset. An asset can be converted into liquid cash any time and profit or loss on selling an asset will be reported as a capital gain or loss.
Assets are part of the balance sheet and a balance sheet provides an instant picture of the company's financial status, whether the company is inclining or declining and based on the balance sheet balances, the company's management take initiatives accordingly to elevate the status.
