Capital Work in Progress
This query is : Resolved
21 February 2011
Respected Members
What is Capital Work in Progress which is shown in the Application of Funds in Balance Sheet?
What is Capital Work in Progress which is shown in the Application of Funds in Balance Sheet?
21 February 2011
Capital WIP is referred to as Assets under Construction and are represented by a specific Asset class.
It is an asset on the balance sheet that is not considered to be a final product, but must still be accounted for because funds have been invested toward its production. It is thus a work that has not been completed but has already incurred a capital investment
Usually depreciation is not charged on Capital WIP.
Following are some examples of capital WIP:
- A machinery under installation
- A building under construction
It is an asset on the balance sheet that is not considered to be a final product, but must still be accounted for because funds have been invested toward its production. It is thus a work that has not been completed but has already incurred a capital investment
Usually depreciation is not charged on Capital WIP.
Following are some examples of capital WIP:
- A machinery under installation
- A building under construction
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