Total Assets represent property, including tangible assets, intangible assets, financial investments, cash and debt, which the company owns for a given period. Total Assets must be equal to the sum of Total Liabilities & Shareholders’ Equity. Total Assets for commercial companies can be divided into Current Assets and Non-Current Assets.
An asset is a resource with economic value that a corporation owns with the expectation that it will provide a future benefit. Total assets are important because they show how much a company owns in terms of property, cash equipment and more.