hidden assets


Also found in: Legal.

Hidden Asset

Value that a person or company possesses that does not appear on its balance sheet. One may have a hidden asset due to an accounting convention. For example, a company may be required to depreciate an asset faster than its actual value declines. This results in a higher net worth for the company than would be reflected in its books. A hidden asset is also called a hidden reserve or a hidden value.

hidden assets

Items of value that are owned by a firm but do not appear on its balance sheet. For example, a trademark or patent may be a firm's most valuable owned asset; yet, it would not appear as such on its balance sheet.
References in periodicals archive ?
The Commissioner Inland Revenue Department of AJK said that extension in the last date was another golden opportunity for those AJK residents besides the Kashmiri expatriates seeking to declare their hidden assets coupled with payment of due tax amounts against their assets - enjoying the amnesty without any due fine or extra charges.
Elaborating, Mirza said that the companies, Association of Persons [AOPs] and individuals could unveil their income and the country-based hidden assets by depositing the stipulated tax amount according to the concerned category by the deadline.
"You all have time until June 30 to declare your hidden assets inside the country (Pakistan) and those held abroad.
Dubai: Prime Minister Imran Khan has once again warned Pakistanis to declare their hidden assets and secrets accounts by June 30 to avoid strict legal action against them.
He ordered that PS8,200 in hidden assets be confiscated and paid in compensation to Mr and Mrs Bukhara within three months.
A long-term remedy, issuing e-coins or e-currency can help such corruption-hit countries as India and Pakistan to control black money, eradicate corruption and encourage the general public to disclose their hidden assets to the government.
Grilled about Wintris, he initially blamed his wife then got up and tried to leave, saying: "I have never hidden assets. It's a bit like you're accusing me of something."
Barber's bankruptcy was thrown out because the judge determined that he had hidden assets from creditors.
But a judge accepted there was nothing to prove that Child, of Cardiff, had any other hidden assets.
THE River Sherbourne is one of Coventry's most beautiful hidden assets; but as it ows through the former Alvis factory site, it is sadly neglected, un-loved and dreadfully littered.
Now, news reports come out frequently about the Marcos heirs having extreme difficulty recovering their hidden assets from some "dummies" who have decided to help themselves to the loot!
These nations include countries where US citizens have traditionally hidden assets.