Asset

In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held to have positive economic value is considered an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).

The balance sheet of a firm records the monetary value of the assets owned by the firm. It is money and other valuables belonging to an individual or business. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.

Relief

Relief is a sculptural technique where the sculpted elements remain attached to a solid background of the same material. The term relief is from the Latin verb relevo, to raise. To create a sculpture in relief is to give the impression that the sculpted material has been raised above the background plane. What is actually performed when a relief is cut in from a flat surface of stone (relief sculpture) or wood (relief carving) is a lowering of the field, leaving the unsculpted parts seemingly raised. The technique involves considerable chiselling away of the background, which is a time-consuming exercise. On the other hand, a relief saves forming the rear of a subject, and is less fragile and more securely fixed than a sculpture in the round, especially one of a standing figure where the ankles are a potential weak point, especially in stone. In other materials such as metal, clay, plaster stucco, ceramics or papier-mache the form can be just added to or raised up from the background, and monumental bronze reliefs are made by casting.