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LSDefine

Simple English definitions for legal terms

financial asset

Read a random definition: charge

A quick definition of financial asset:

A financial asset is something that you own that has value, like money in the bank or stocks. It's listed on a balance sheet along with other things you own, like property or equipment. Some financial assets can be easily turned into cash, while others are harder to sell. They're important because they help you understand your financial situation and can be used to pay off debts or distribute to heirs.

A more thorough explanation:

A financial asset is an item that has value and can be owned. It is listed as a current asset on a balance sheet and includes things like cash, inventory, equipment, real estate, accounts receivable, and goodwill. Financial assets can be used to produce goods or services, or they can be readily converted into cash.

Examples:

  • Cash
  • Stocks and bonds
  • Accounts receivable
  • Real estate

These examples illustrate financial assets because they are items that have value and can be owned. Cash is a financial asset because it can be used to purchase goods or services. Stocks and bonds are financial assets because they represent ownership in a company and can be sold for cash. Accounts receivable are financial assets because they represent money owed to a company by its customers. Real estate is a financial asset because it can be sold for cash or used to generate income.

Financial Accounting Standards Board | financial contract

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14:47
dude washu has sent me an email at least once per feek for 3 months
14:47
it has significantly impacted my opinion on their law school
14:48
week* frick
BluePacedCephalopod
14:49
yeah like i've gotten radio silence from them since october
BluePacedCephalopod
14:49
like if you don't want me that's fine but why not reject or WL people? too busy having Zoom seminars
BluePacedCephalopod
14:50
like it's actually so rude that they don't have the decency to R/WL before like April
15:03
Lmaoo the Zoom seminars
GW is requesting my fall transcripts (I had intended to apply during the fall semester when I requested them, but had three hurricanes-one with water rescues in my neighborhood-an emergency 2 1/2 week trip to Colorado to say goodbye to my mother-in-law, then I received my service dog, which required another eight days away from school for training), so I ended up applying this month. If I request new transcripts through LSAC, does each school I applied to receive them? I'm hoping to not have to write an addendum of why all of my narrative evaluations mention my busy schedule or that I had to miss classes and whatnot. (My school doesn't do letter grades.)
AnotherUsername1
16:31
Yes, they receive them automatically from LSAC
@AnotherUsername1: Thank you! :)
1a2b3c4d26z
17:00
hi
omelette
17:22
yooo 1a
omelette
17:22
its eggan
omelette
17:22
eff i missed him
Do y'all think Berkeley's gonna reject me or waitlist me. An A seems unlikely atp.
omelette
18:24
i feel the same way
'tis very sad
It sucks cause I feel like I fucked up my video statement but the rest of my app was strong and now the video statement isn't even a requirement
I think as long as you haven't been R or WL, you're still in the running! I don't think they'd leave anyone hanging if they already knew! <3
BatmanBeyond
19:12
Tried negotiating scholarships with the school but they basically called my bluff saying I have to share other letters by the deposit deadline to get any $. It feels good to bet on myself though
1a2b3c4d26z
19:37
EGGGGG
1a2b3c4d26z
19:38
MY MAN
1a2b3c4d26z
19:38
How's it goin
[M] hw03
20:46
how's everyone doing
did anyone have a penn date change? mine went into review early feb, then the date on the portal changed to a couple days ago.. but no email update wondering if anyone else is in the same boat
omelette
22:24
@1a2b3c4d26z: im ok just waiting on a few more schools
0:32
how do you fuck up a video statement when youre well aware its going to happen and its straightforward
Obama
2:13
You’re an idiot
Obama
2:14
There’s a variety of ways for it to go awry
omelette
2:59
yeah true, an alarm noise went off in the middle of my video statement and i just kept going but it could have prevented the adcomms from hearing what i was saying
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