Total Assets

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