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Home/Questions/Q 60214
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Nancy Chawla
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Can someone share a list of tangible and intangible assets?

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    1. This answer was edited.

      List of Tangible and Intangible assets

      INTANGIBLE ASSETSTANGIBLE ASSETS
      1. LEGAL FEES1. PLANT & MACHINERY
      2. PATENTS2. CASH & CASH EQUIVALENTS
      3. LICENSES3. LAND & BUILDING
      4. TRADEMARKS4. EQUIPMENTS
      5. FRANCHISES5. FURNITURE & FIXTURES
      6. GOODWILL6. INVENTORY
      7. COPYRIGHTS7. MARKETABLE SECURITIES
      8. BRAND EQUITY8. INVESTMENTS
      9. BROADCAST RIGHTS9. RAW MATERIALS
      10. RESEARCH & DEVELOPMENT10. VEHICLES

      Notes

      Intangible assets: (invisible)

      1. Legal fees – It is an intangible asset as it refers to the fees incurred in the registration of trademarks and patents.
      2. Patents – A patent is an exclusive right that is granted to an inventor by law which permits them to exclude anyone from producing, using, or selling their invention for a given period.
      3. Licenses – refers to a right that is purchased to operate a business.
      4. Trademark – refers to a legal right which protects the distinct identity of a company. It can comprise of a name, logo, slogan, or anything that depicts a company’s unique identity.
      5. Franchises – refers to a license/permission granted by the owner, under certain conditions, to produce or sell a product or service.
      6. Goodwill – refers to the reputation of a company which is determined by its profits and losses.
      7. Copyrights – It is an intellectual property right obtained by a creator usually in the fields of art, music, literary, etc, which restricts a person from publishing the content without the consent of the owner.
      8. Brand equity – refers to the value of the unique identity of a business. It can be positive or negative.
      9. Broadcast rights – refer to the rights obtained under a licensing agreement for broadcasting a program.
      10. Research & Development – includes the development of software and technological innovations of a company.

       

      Tangible assets: (visible)

      1. Plant & Machinery – used to convert raw materials into finished goods. They are recorded in the books of accounts at a depreciated value.
      2. Cash and Cash equivalents – It refers to the cash in hand and cash at bank. The cash equivalents are usually stated at the value they are convertible into cash.
      3. Land & Building – represents the ownership of a physical property of the business.
      4. Equipments – used in the production activities of a business.
      5. Furniture & Fixtures – refers to the movable equipment that is a part of the office layout.
      6. Inventory – refers to the valuable items which are usually stored in a warehouse with a plan of being sold or utilized in the process of production.
      7. Marketable securities – refers to the stocks, bonds, shares which can be easily converted into cash.
      8. Investments – refers to a liquid asset that is purchased with an expectation of being sold in the future.
      9. Raw materials – refers to the tangible materials used for manufacturing goods.
      10. Vehicles – The vehicles used by the proprietor such as a car or the trucks, tractors used for the operating activities of a business.

       

      Hope this helps.

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