An asset is anything that has value to your business and needs protection. It’s not just cash or buildings, but also your customer and employee data, technology, IT systems, people, services, and the physical spaces where you work.
What are the different perspectives on assets within a company?
Different business functions view assets through their own lens, which may not align with others.
Assets from a Finance and Accounting perspective
- Financial accounting views assets through accounting standards and classifies them (long-term, short-term, tangible, intangible, cash, etc.).
- In practice: fixed vs. current assets; tangible vs. intangible; cash and equivalents, etc.
- Finance teams typically understand “assets” as balance sheet items measured in dollars.
Assets from a Risk Management perspective
- Definition: An asset is anything that has value to the business and can be impacted by threats.
- In practice: business assets are categorized by type; you’ll see an asset list in a risk register or asset register.
- An asset can also be a source of workplace hazards and is therefore part of occupational safety risk management and health protection
Assets from an IT Risk and Security perspective
- Assets in information security focus on information and other IT assets essential for operating information systems.
- They are also sources of information security risks and thus part of the infosec risk management scope.
- Where it appears: NIST CSF, ISO 27001/27005, risk register.
Assets from an HR (People) perspective
- Assets = people and their knowledge, often referred to as “human capital.”
- Where it appears: HR strategy, onboarding/offboarding, knowledge management.
- Typical examples: key employees, subject-matter experts, teams, organizational know-how.
- HR priority: retain and develop people, protect critical knowledge (succession planning, training, compliance).