calculate of wip

[Former Member]

Dear All

My client is going for new plant development After constructing it will asset for them.my question is how to run WIP for this project.to find how much percentage of work completed and how much actual cost involved for this project at particular time of work.

Regards

Raj

[nitin_patoliya]

As this plant is asset for you, and I belive there is no revenue coming in, So It would be Capex proejct Scenario. So, Instead of WIP, AUC will get created from AUC ( Asset Under Construction ) you will create final Fixed asset.

This is not Customer porject Scenriao, wehre WIP comes in to picture.

With Regards

Nitin P.

[Former Member]

Dear Sir

My client requirement is to see every month or upto particular period of time to see how much percentage is completed and cost involved in it please tell me sir In the Capex project we can able to see it

Regards

Raj

[Former Member]

Hi,

In case of investment project (Capital project), if you want to view WIP periodically. Then you just need to follow the processes of periodic settlement of Capital project to AUC and this periodic value AUC for accounts (till not converted in it Asset using CJIC or etc) will be CWIP (captial WIP).

So, suggest them to execute the settlement of captial project periodically when they need to see CWIP of the project.

Regards

Avisek Bhardwaj