You are an accountant at Bright Consulting. The CEO tells his employees, “People are our greatest assets.” When you show him the financial statements, he becomes very angry and demands, “Why do we not have our employees on this balance sheet? You better fix these statements or you are fired!”

Required 

Write an email to the CEO explaining whether employees should be recorded as assets on the balance sheet. Ensure to explain your reasoning based on the definition of an asset.