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net exposed assets. Definition. The difference between the exposed assets subtracted from exposed liabilities. These assets can refer to market values or book values. A business is long in currency if its net exposed assets are positive, i.e. the exposed assets are greater than their exposed liabilities. A business is short in currency if its net exposed assets are negative.
Formal definition. An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity (Framework Par 49a). Characteristics. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board. The following is a quotation from the IFRS Framework: An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.