What Are Total Assets

Total Assets refers to total amount of Assets owned and controlled by an entity or a sole proprietor. These are shown on the Balance Sheet on asset side. Examples of total assets include Cash, Accounts Receivable, Inventory, Land & buildings, Plant & Machinery, Goodwill, Patents, etc.

Total Assets include both Current Assets and Non Current Assets / Fixed Assets. Mathematically we can show it as:

Total Assets = Current Assets + Non Current Assets

As the sum of assets (Total Assets) are equal to the sum of Liabilities and Equity so these represent a part of Accounting Equation.