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.
Fixed assets refer to non-monetary assets held by enterprises for producing products, providing labor services, leasing or management, which have been used for more than 12 months and have reached a certain standard, including houses, buildings, machines, machinery, means of transport and other equipment, appliances and tools related to production and business activities. Fixed assets are the labor means of enterprises and the main assets that enterprises rely on for their production and operation. From the perspective of accounting, fixed assets are generally divided into productive fixed assets, unproductive fixed assets, leased fixed assets, unused fixed assets, unnecessary fixed assets, financing leased fixed assets and donated fixed assets.