Examples of identifiable assets
- Property
- Equipment
- Trademarks
- Patents
- Copyrights
- Land & Buildings
- Machinery
- Furniture
- Equipment
- Licenses
How to find Identifiable Assets
To find identifiable assets in an organization, here’s a list of measures to be taken into consideration:
- Examine the balance sheet and financial statements of the business to find assets that have been recorded as assets.
- Check each asset to see if it qualifies as an identifiable asset. By determining whether the asset can be sold, transferred, licensed, rented, or swapped apart from the business, this can be accomplished.
- Look for intangible assets including licenses, patents, trademarks, and copyrights. Despite not being listed on the balance sheet, these assets may nonetheless be quite valuable.
- To identify any assets that are not shown on the balance sheet but are nevertheless regarded as identifiable assets, look at the company’s contracts, leases, and legal agreements.
- To better understand the company’s assets, including some that might not be included on the books, speak with management and other stakeholders.
Identifiable Assets vs Liabilities
| Assets | Liabilities |
| This refers to each unique tangible or intangible asset that a company has and that can be sold or used apart from the firm. | These are the debts that a business owes to other parties, such as loans, bonds, and accounts payable. |
| Examples of identifiable assets include; real estate, equipment, patents, trademarks, and copyrights. | Identifiable Liabilities represent money that the business will eventually have to pay back. |
| Identifiable Assets can be sold, transferred, licensed, or exchanged individually. | This can be long-term or short-term (e.g. bonds) |
Unidentifiable Assets
Unidentifiable assets are those that cannot be sold, transferred, licensed, rented, or traded apart from a business. These assets are difficult to quantify and might not be listed on the balance sheet of a business. These are examples of Unidentifiable Assets:
i. Brand awareness
ii. Customer Base
iii. Employee skill and knowledge
iv. Market standing
v. Reputation
Unlike identifiable assets, unidentifiable assets cannot be sold or traded, but they still contribute to a company’s overall value and competitiveness.
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