Assets of the organization, their identification and conditions of recognition in accounting

The article defines the role and significance of the organization’s assets in the activities of economic entities, the need to manage them based on information generated in accounting, the quality of which determines the effectiveness of management decisions. For a deeper understanding of the economic content of assets, the main approaches to defining the concepts of «assets» and «economic benefits» are considered. In order to improve the quality of accounting information, the significance and need for correct classification and identification of various types of assets depending on their economic content, purpose and role performed in the process of reproduction of the aggregate social product are determined.