Assets are something you use in your business – either for production, supporting your business, housing your office etc.

For production purposes you may have machinery, equipment, for supporting your business you would use printers, computers and so on. Obviously another thing you may have for your business is an office, which if not being rented, is most probably also your asset. Now those are tangible assets. Tangible means that you can physically touch them since they do have a physical form. 

If you think about it, intangibles then are assets with no physical form which still are there for your production, support and managing your business. Generally speaking intangible assets are usually different software programs you have for machinery (for production), accounting software you would have for supporting your business and various specific programs you maintain for keeping your client relationships (i.e. client lists with relevant details), for managing order, purchases etc. Those are intangible assets you use for your business.

So you can have two types of assets – tangibles and intangibles. One would be an actual physical asset that you can see and touch and the other non-physical, which you cannot touch. Yes, you can see it, but that’s the interface and not the actual asset.