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LSDefine

Simple English definitions for legal terms

financial asset

Read a random definition: grant deed

A quick definition of financial asset:

A financial asset is something that you own that has value, like money in the bank or stocks. It's listed on a balance sheet along with other things you own, like property or equipment. Some financial assets can be easily turned into cash, while others are harder to sell. They're important because they help you understand your financial situation and can be used to pay off debts or distribute to heirs.

A more thorough explanation:

A financial asset is an item that has value and can be owned. It is listed as a current asset on a balance sheet and includes things like cash, inventory, equipment, real estate, accounts receivable, and goodwill. Financial assets can be used to produce goods or services, or they can be readily converted into cash.

Examples:

  • Cash
  • Stocks and bonds
  • Accounts receivable
  • Real estate

These examples illustrate financial assets because they are items that have value and can be owned. Cash is a financial asset because it can be used to purchase goods or services. Stocks and bonds are financial assets because they represent ownership in a company and can be sold for cash. Accounts receivable are financial assets because they represent money owed to a company by its customers. Real estate is a financial asset because it can be sold for cash or used to generate income.

Financial Accounting Standards Board | financial contract

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18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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