Total assets refer to all assets owned or controlled by an economic entity that can bring economic benefits. Generally speaking, the total assets of an accounting entity are equal to the "total assets" of its balance sheet. Like accounting caliber in the UN SNA, "assets" in China's asset-liability accounting refers to economic assets. The so-called economic assets refer to those assets whose ownership has been clearly defined and whose owners can obtain economic benefits through effective use, holding or disposal in a certain period of time.
Criteria for recognition as assets:
1. Ownership of this resource. For example, an asset leased by an outward unit in the form of operating lease is not the asset of the unit, because the ownership of this asset does not belong to the enterprise.
2. Whether the resource is owned or controlled by the company. For example, if the payment has been made to the foreign company, but the goods have not been issued, the goods cannot be recognized as the assets of the enterprise for the time being. Because the goods have not been owned or controlled by the enterprise.
3. Economic resources can bring economic benefits to the unit. For example, some scrapped machinery and equipment can no longer bring economic benefits to the unit and cannot be recognized as assets in accounting.
Theme composition:
1. Total assets are divided into current assets and long-term assets according to different holding periods. The former is monetary assets, inventory, accounts receivable, etc. And the latter is long-term investment, housing equipment, etc.
2. According to the different characteristics of asset turnover, total assets consist of current assets, long-term investments, fixed assets, intangible assets and deferred assets.
3. According to different asset forms, total assets include financial assets and non-financial assets, tangible assets and intangible assets.