Regarding WIP its very very urgent
This query is : Resolved
TINKU KUMAR GUPTA
(Querist)
16 August 2010
Dear All,
Pls tell me Where Work in Progress (WIP)is come in the Balance sheet.Under current assets or under fixed assets i thing it will come under current assets but in ICAI CD materials WIP shown in the Fixed Assets.
Pls tell me where it will come in the Balance Sheet.
Pls tell me Where Work in Progress (WIP)is come in the Balance sheet.Under current assets or under fixed assets i thing it will come under current assets but in ICAI CD materials WIP shown in the Fixed Assets.
Pls tell me where it will come in the Balance Sheet.
Aditya Maheshwari
(Expert)
16 August 2010
It would depend upon the nature of capital WIP. If it is in relation to your asset then it will form part of fixed assets if it is part of your trading activities then under stock in hand under current assets.
Ratan Sharma
(Expert)
16 August 2010
agree with expert.
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