Other assets definition
/What are Other Assets?
Other assets is a grouping of accounts that is listed as a separate line item in the assets section of the balance sheet . This line item contains minor assets that do not naturally fit into any of the main asset categories, such as current assets or fixed assets .
Examples of Other Assets
There are several types of assets that can be included in the Other Assets classification. Here are some examples:
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Advances to employees . An employer might advance funds to an employee for which repayment will not be for more than one year. These advances can be classified as Other Assets.
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Bond issuance costs . Bond issuance costs are the fees associated with the issuance of bonds by the issuer, and may linger on the balance sheet for years, as they are gradually amortized.
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Deferred tax assets . These are income taxes that are recoverable in a future period.
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Deposits . Security deposits paid on leases may quite easily not be returned for an extended period of time, in which case they are classified as Other Assets.
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Long-term prepaid expenses . Some prepaid expenses are paid so far in advance that they will not be consumed for more than a year. These long-term assets can be classified as Other Assets.
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Non-current receivables . If a seller has issued billings to customers with payment terms that are still more than one year in the future, then they are classified as Other Assets.