What Is an Asset? An asset is a resource owned by an individual or organization which provides economic value. This includes cash, equipment, property, rights, or anything that helps a company generate revenue or reduce expenses., In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). [1] ., Something or someone that is an asset is considered useful or helps a person or organization to be successful., Definition of asset noun from the Oxford Advanced Learner's Dictionary. a person or thing that is valuable or useful to somebody/something. In his job, patience is an invaluable asset. Being able to speak a foreign language is a major asset. I’m not sure if his forcefulness is an asset or a liability., The meaning of ASSET is the property of a deceased person subject by law to the payment of his or her debts and legacies. How to use asset in a sentence., Define asset. asset synonyms, asset pronunciation, asset translation, English dictionary definition of asset. n. 1. A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company. 2. A valuable item that is owned..