The total amount of assets (economic resources) that an entity owns and uses, directly or indirectly, in its operations/ business, etc. It is the sum of all the values of assets presented on an entity’s balance sheet. Total assets (TAs) can be defined as the sum of all monetary and non-monetary economic resources owned, managed, and controlled by an entity which either have an current economic value or is capable of generating future economic benefits for the entity either in the short or long run.

Total assets may consist of items such as cash (monetary assets) and cash equivalents, marketable securities and short-term investments, other financial assets, inventory, PPEs, and other fixed assets, intangible assets, prepaid items, etc.

On the balance sheet, the sum of an entity’s total liabilities and equity must equal its total assets (see: accounting equation).