Assets are the stuff that a business owns that have value
- They make up one half of the balance sheet

Current assets are short-term assets that can be converted into cash in under one year
Non-current assets have a longer useful life

Tangible assets are the ones that you can touch
- They have a physical presence and depreciate over time
- Land is an exception
Intangible assets have no physical presence
- They don’t depreciate, they amortize instead

Capital Contributions
Retained Earnings