• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

what is an asset???

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › what is an asset???

  • This topic has 3 replies, 2 voices, and was last updated 13 years ago by Najiya.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 25, 2012 at 5:46 am #52360
    kate2lyn
    Member
    • Topics: 2
    • Replies: 2
    • ☆

    on the video and notes here, it says an asset is anything OWNED by the business but my teacher told us that an asset is anything CONTROLLED by the business (does not necessarily own).

    which is right?

    April 25, 2012 at 7:59 am #96776
    Najiya
    Member
    • Topics: 1
    • Replies: 94
    • ☆☆

    1)An asset is something valuable which an entity owns or has use of. (for f3, this definition is enough)
    2)An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.
    It is not necessary that an asset should be owned by the business.

    April 25, 2012 at 8:05 am #96777
    kate2lyn
    Member
    • Topics: 2
    • Replies: 2
    • ☆

    thankss 🙂 you’ve been really helpful.. i was confused when i watched the video ..

    April 25, 2012 at 8:10 am #96778
    Najiya
    Member
    • Topics: 1
    • Replies: 94
    • ☆☆

    welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • MikeLittle on Civil Law, Common Law, Criminal Law – ACCA Corporate and Business Law (LW) (ENG)
  • beata443c on Civil Law, Common Law, Criminal Law – ACCA Corporate and Business Law (LW) (ENG)
  • heary123@ on Group SFP – Unrealised profit and inventory in transit – ACCA Financial Reporting (FR)
  • heary123@ on Group SFP – Unrealised profit and inventory in transit – ACCA Financial Reporting (FR)
  • John Moffat on PM Chapter 15 Questions Financial Performance Measurement

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in