Cwip accounting
Kaushik Rakshit (27 Points)
30 August 2021
Can vendor advance be treated as Capital work in progress (CWIP)?
2 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 30 August 2021
No capital work in progress is debit
opening WIP
inventory input
overheads
finished WIP
then credit
cogs
then the difference is brought down to debit as this ledger is nominal in nature.
The advance will be a current asset only.
Recent Topics
- Query regarding place of business in GST registrat
- GST ON PLOT SALE
- TDS return submitted, but neither rejected nor acc
- Trade payables
- NSDL DEMAT-annual custody fees
- Claiming Rent Expenses Invoiced Late Due to Vendor
- Discount and Outward freight on Sale GST RCM
- Income from debt mutual funds in ITR4
- Gold ETF STCG and LTCG
- Property capital gain, Bought in 2002 and sold in
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
