Asset has two classes, one is called financial asset and the other called non-financial asset. Financial asset includes stock, bond and cash which is very liquid. Non-financial asset includes real estate, land, antique, arts and jewelry which are not easy to buy and sell in a moment of notice. Adding all these assets together, you will have your total assets.
Total Assets = Financial Assets + Non-financial Assets
To calculate your net asset, you need to subtract your debts from your total assets.
Net Assets = Total Assets – Debts