Assets are an economic resource, owned by an individual or organisation, which can be converted into cash or has a potential cash value. The two main classes of asset are ‘tangible’ or ‘intangible’. The former includes physical resources like stock, plant and equipment while the latter includes copyrights, patents and brands. In the accounting context, assets are either ‘current’ or ‘fixed’ The former includes cash, stock and accounts receivable (which are likely to be consumed within a year), while the latter includes buildings, property and equipment (which will provide ongoing benefits).