An Asset is an economic resource that has a value and can be owned or controlled by the investor (an individual, corporation or a country). Usually assets are held by firms to increase the value of firm’s operations.
Assets can also be defined in the context of accounting. In this case assets can be current and fixed. Current assets are meant to be consumed within a year while fixed assets are meant to provide continued benefits for years to come. Examples of current assets are cash and inventory while buildings and real estate would be categorized as fixed assets.