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1.
Work time that one logs where one hopes to accomplish quite a bit of "work," but spends most of that time sitting in a chair.
I would like to go to lunch with you guys, but I'm really busy. I've been putting in a lot of ass time lately.
by Cap'n Tony September 12, 2005
 
2.
Closely related to a lightyear, a unit of time in which elapsed time can not be measured due to its immense length.
Taking a long asstime to get off
"Man, that douchebag is taking an asstime!"
by T Freds April 27, 2007
 
3.
The combination of ass dialing and FaceTiming. The act does not necessarily have to be specifically caused by the gluteus maximus, but can refer to any accidental cause. Usually makes for extremely awkward moments and always happens when you are talking about the person or place you AssTimed. Not to be confused with "sexting".
Steph: "How did I FaceTime Cook's Cafe??"
Tyler: "Hahaha, it looks like you AssTimed the local diner... aaaaawkward"
by BoredScientist November 08, 2013