Information can be considered an asset for a corporation because it [1] has value in that it is useful and provides intelligence and advice, and [2] has an exchange value in that it would be valuable for a competitor to possess. While an information system as a whole is not an asset since it cannot be exchanged, [3] it is undoubtedly a valuable business tool, even if it is not considered an asset from an accounting controls perspective.

1. Is Information an Asset?
Asset
• Fundamental accounting equation:
Asset=Liabilities + Net Worth
Things of monetary Things of monetary
value that a firm value that a firm
owes owns
Asset = items with monetary value a firm possesses

2. Is Information an Asset?
Asset
• A useful thing or quality
• Something of value
• Item of ownership having an exchange value
• Has value to more than one person, as opposed to
sentimental value

3. Information in Context
Knowledge of people, life, conduct
Wisdom integrated with facts, info, knowledge
Insight
Knowledge Organized body of information
Intelligence, advice
Information Facts that have a use or purpose
Individual fact, statistic
Data Observation
Fact about the environment, a ‘given’
An electromagnetic or optical format for data
Signal that allows it to be processed or moved

4. Corporate Assets
Which are corporate assets?
• Is information an asset?
• Are information systems assets?
Information: Facts that have a use or purpose; intelligence, advice
Asset: Something a firms possesses that has an exchange value

5. Corporate Assets
Information is an asset
• It is useful
• It has an exchange value
It has value in the hands of a competitor
An information system is not a corporate asset (?)
• It does not have an exchange value (as a whole)
• It is undoubtedly a valuable business tool
A Information system is not an asset from a controls point of view