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Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
According to the International Financial Reporting Standards (IFRS), a financial asset can be: . Cash or cash equivalent, Equity instruments of another entity,; Contractual right to receive cash or another financial asset from another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favorable to the entity,
Intangible assets are typically expensed according to their respective life expectancy. [2] [9] Intangible assets have either an identifiable or an indefinite useful life.. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, [12] whichever is shor