yo yo yo CPA strength here back with another video you already have some fun
learn some accounting and let's just get it in this is accounting for beginners
101 I have a complete playlist over here so check this out if you want to see
more kind videos it's a really good playlist I have this thing dc-8 ler
helps a lot of people well let's get this in I got this I got this from a
comment from a video I answer all comments and if you have a question for
another video let me know because I know this will at least help one person out
and I'm all about helping people so let's get this in this is tangible
assets first intangible assets and I just want to keep this will just go an
inch deep on this let's keep it very tricky but very simple now you have an
asset I I looked what's an asset it provides an economic
benefit it provides a benefit something that provides a benefit to the company
let's say like that now you have either it's going to be a tangible asset or an
intangible asset tangible asset you can it has physical form you can touch it
see it move it intangible not physical in nature
can't touch see or move you don't want to really overthink this there are some
that can be and like I left them out but just you don't want to overthink this if
you think it's a tangible asset it probably is you know examples of a
tangible asset tangible assets machine can you touch see and move a machine
like a bulldozer yeah I can I can touch it I can see it I can move it from place
to place that's tangible touch tangible intangible is really just say opposite
of tangible a building now see you have to just use your common sense
like you can't press you could move some buildings but you know you can't leave
move a building but can I touch it can I see it you know I can touch the building
touch the walls can I go inside the building yes I guess you could move it
it's physical nature though a vehicle a car or a truck or whatever can I see can
I see it yes can I touch it yes can I move it yes
inventory can I can I touch the inventory can I move the inventory can I
see the inventory yes those are all examples of tangible goods has physical
form touch see and move I left out some I left out some that are like maybe but
these are like the for sure one so you know this is really this is probably for
you want to know or you want to pass an accounting test so let's just go let's
just keep her the easy ones now I think you know the best way to know is
examples so those were these are good examples of tangible assets what are
good examples of in tangible assets not physical in nature can't touch can't see
you know and I do have to say a little caveat from the intangible I mean see a
house might be like nitpicky like you don't want to be like patent is it
intangible you're like oh well I can see the patent paper we're not talking about
just a paper you got to think of what is a patent it's it's an eye it's an idea
it's an intellectual idea these are more intangible I think you could say see
tangible you could say touch tangible touch intangible is more of intellectual
right intellectual intangible and I start to the
to intellectual probably spelt that wrong but you get it I'm not that
intellectual I spelt that wrong but it's okay
not a spelling bee champ here so patent is an idea for you know can you type
it's just an idea it says hey this is my idea how to do something you're not
allowed to use this certain idea or method for you so I want to protect
myself so it's the patent is is an idea you can't really touch or move the idea
copyright lets Google search where it says one of the copyright is your so I
won't like a jackass totally although I'm looking like a jackass here copy
copyright intellectual property protects original works of authorship trademarks
is like your symbol now I know you could touch the symbol but it's like no that's
my idea that's my intellectual property of a
trademark now goodwill is a very good will is a very good example of
intangible goods meaning the goodwill is is the the aura the essence of a company
you can't really you can't really see the goodwill it's just like the name
recognition like I don't know coke Coca Cola you know everyone knows coca-cola
and stuff like that now when you're if you would buy their business they might
have tangible they have tangible goods you know all their machines all their
buildings all their inventory you know their soft drinks and stuff so all that
might add to a certain amount of money you know
like twenty billion dollars might be all their tangible assets but then they
might say oh well we're gonna simply sell it to you for four thirty billion
you know ten more billion than our physical assets because of the goodwill
because of the name recognition the brand recognition but you can't really
touch the goodwill so that's intangible so those are examples of tangible and
intangible now you're not gonna you're not going to always depreciate all
tangible assets but if you do you deplete you depreciate depreciation for
tangible assets amortization for intangible assets anyways this is
accounting for beginners 101 I hope to see you back soon I love doing these
videos I love helping people I hope this helped you in anyways until next time
deuces