Assets provide you with a means to run your business, deliver goods and services to customers, and meet your financial obligations. Business assets can be physical, like equipment and property, or non-physical, like your company's reputation and goodwill.
You can buy, sell or transfer most business assets, or use them to generate profit, reduce risks or as collateral. The resources you need to manage your assets will largely depend on the size and nature of your business. Most organisations keep track of their assets through an up-to-date asset register.
This guide provides an overview of the different types of business assets, including current, fixed and intangible. It outlines the best practice approach to managing, selling and transferring assets, and explains how to undertake a business asset valuation.