Definition, Meaning & Synonyms
asset-account
noun
/ˈasɛt əˌkaʊnt/
Definition
An asset account is a category in accounting that records what a company owns.
Examples
- The company’s balance sheet showed a significant increase in its asset accounts over the last quarter.
- Investors should carefully analyze the asset accounts to understand the company’s financial health.
Meaning
It represents resources that have economic value and can be converted into cash.
Synonyms
- Property account
- Capital account
- Resource account
