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.
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.
CAclubindia
