Total Assets

Total Assets is an accounting term, classifying, Fixed Assets, Intangible Assets and Short-Term Assets. The Company owns these Assets and a Balance Sheet value will be placed on each item.

Total Asset is an accounting definition, being one of the two dominate Balance Sheet classifications. The other is Total Liabilities. Total Assets is what the company owns and is divided into Current Assets and Non-Current Assets or Long-Term Assets. The division is based on the liquidity, or perceived liquidity, of the asset. The concept is that Current Assets could be turned into Cash in under one year. Non-Current Assets, while they could be liquified, are assets that will be maintained on the Balance Sheet for more than one year and include assets involved in the production process, such as Plant and Equipment. Balance Sheet items which will be classified as assets include, but are not limited to, Fixed Assets, Intangible Assets, Cash, Marketable Securities, Accounts Receivable and Inventory.