Total assets refer to the sum of everything a company owns that has value. This includes cash, real estate, equipment, inventory, and investments. Total assets are important because they provide insight into a company's financial health and its ability to generate revenue. Total assets are typically listed on a company's balance sheet, which is a financial statement that summarizes its financial position at a specific point in time. By analyzing total assets, investors and stakeholders can assess the company's resources and make informed decisions regarding its performance and potential for growth.