Definition of Assets in Financial Accounting

I'm taking a course from IESE Business School on Coursera: Principals of Financial Accounting.

I've learned to read financial reports before in school, and remember it can be tricky to differentiate assets from liabilities. This instructor gives quite a clear framework to judge if something is an asset for the company from an accounting perspective:

1. ownership - is it a resource owned or controlled by the company?

2. future benefits - is it expected to generate future economic benefits?

3. arises from a past event or transaction

Interesting example: a brand is not an asset because it doesn't qualify 3 (that's the limitation of accounting); employees are not assets because they don't qualify 1; special case though, football players of a club are assets.

Now I find it much clearer. Or just remembered again ;)