Asset panel displays all files in the project. Creating new files, renaming files, deleting files and other asset files associated operation can be done here.
In Cocos Studio you can add assets by using import menu or drag assets directly to the asset panel. Also, files in asset panel can be dragged to other panels like canvas in order to set properties or create a new element.
Note: File structure in the assets panel is the same as on the disk. When you delete a file on disk, widgets that reference this file will be lost and will display its name in red