by Assets are defined as resources owned by the company from which future economic benefits are expected to be generated. Total assets are the sum of non-current and current assets, and this total should equal the sum of stockholders’ equity and total liabilities combined.
The formula for Total Asset is:
Total Assets = Non-Current Assets + Current Assets
Non-Current Assets: Non-Current Assets are those assets that a company holds for more than one financial year, which are not readily convertible into cash or cash equivalents.
Current Assets: Current Assets are those assets that are expected to be converted into cash or cash equivalents within one financial year.
Asset for Small Business
- Cash
- Accounts receivable (money owing)
- Customer deposits
- Office furniture and equipment
- Cell phones
- Computer hardware and software
- Tools, machinery and equipment
- Vehicles
- Real estate (buildings etc.)
- Lease agreements and money spent to improve a leased space
- Inventory
- Investments that mature in less than 90 days (i.e. stocks, U.S. treasuries, bonds, mutual funds)
- Pre-paid insurance
- Intellectual property (i.e. know-how)
- Brand equity (recognition)
- Company reputation
- Copyright
- Trandmarks
- Patents
- Franchises
- Licensing agreements
- Domain name
- Employment contracts
- Customer lists
- Client relationships
