Anything of value. Assets can be in the form of money, such as cash at the bank or amounts owed to you; they can be fixed assets such as property or equipment; or they can be intangibles such as your company's goodwill or brand-names. Net assets are what is left after liabilities (what you owe) are deducted from total assets (what you own). For accounting purposes, assets are things with future economic benefits, for example providing future cost savings or generating future revenue. For banks, loans are their assets (deposits their liabilities).
