From Open Risk Manual


Assets. It is anything owned, whether in possession or by a right to take possession, by a person or a group acting together, for instance, an organization.


Assets may be classified in many ways. A principal distinction, normally made for business purposes, is between fixed assets and current assets.

Fixed assets are purchases for continued and long-term use in earning revenues in an organization. Examples are land, buildings, machinery,and so on.

Current assets are assets continually turned over in the course of an organization during normal business activity. Examples are accounts receivable, inventory, cash, and work in progress.


XBRL Properties

  • IFRS Prefix: ifrs-smes
  • Element Name: Assets [abstract]
  • Common Initials:
  • Element Type and Attributes: Aggregate
  • Hierarchy Level: 1
  • IFRS References: