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Capital Work in Progress

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(Querist)
21 February 2011 Respected Members
What is Capital Work in Progress which is shown in the Application of Funds in Balance Sheet?
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CA Punit

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CA Punit (Expert)
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
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Sanjay

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Sanjay (Querist)
21 February 2011 Thanks a lot SIR....
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