The assets division should contain what accounts?

To determine which accounts should be included in the assets division of a company, you need to understand what assets are. Assets are resources that a company owns or controls, which can provide future economic benefits. They are typically categorized into different types, including current assets, non-current assets, tangible assets, and intangible assets.

To identify the accounts that should be included in the assets division, you can refer to the company's chart of accounts or financial statements. Here are some common accounts that you would typically find in the assets division:

1. Cash and Cash Equivalents: This includes physical cash, bank accounts, and short-term investments that can be readily converted into cash.

2. Accounts Receivable: This account represents money owed to the company by customers or clients for goods or services provided on credit.

3. Inventory: It includes raw materials, work-in-progress, and finished goods held by the company for sale or production.

4. Property, Plant, and Equipment: This account covers tangible assets such as land, buildings, machinery, and vehicles that are used to operate the business.

5. Investments: Investments in securities, such as stocks, bonds, or other financial instruments that the company holds for long-term purposes.

6. Intangible Assets: This account comprises non-physical assets that have no physical substance, including trademarks, patents, copyrights, or goodwill.

Please note that the specific accounts may vary depending on the nature of the business and the accounting practices followed. It is always recommended to consult the company's financial statements or seek professional advice to accurately determine the accounts included in the assets division.