Current assets are resources that can be converted to cash within one year:
– Cash and savings accounts – Most liquid assets
– Checking and money market accounts
– Stocks and marketable securities
– Accounts receivable (money owed to you)
– Inventory (for business owners)
– Prepaid expenses (insurance, rent paid in advance)

Fixed assets are long-term resources that provide value over multiple years:
– Real estate (home, investment property)
– Vehicles (cars, boats, motorcycles)
– Equipment and machinery
– Furniture and appliances
– Business equipment (computers, tools)

Financial assets represent investments in the assets and securities of other institutions. Financial assets include stocks, sovereign and corporate bonds, preferred equity, and other hybrid securities. Financial assets are valued depending on how the investment is categorised and the motive behind it.

Intangible assets are economic resources that have no physical presence. Intangible assets provide an economic benefit to somebody, but you cannot physically touch them. These are an important class of assets that include things like intellectual property (e.g., patents or trademarks), contractual obligations, royalties, and goodwill. Brand equity and reputation are also examples of non-physical assets that can be quite valuable.