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In Profit & Loss Account & Balance Sheet, what is the effect of Work -in Progress?

Stock of Materials at construction Site

Accounting Accounts Payable
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Question added by ANI GOPALAKRISHNAN , Accountant , Power International Facilities Management
Date Posted: 2015/02/21
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prabir ghosh

In Profit & Loss Account & Balance Sheet, what is the effect of Work -in Progress?

ABHILASH C G
by ABHILASH C G , ACCOUNTS MANAGER- EP , Yusuf Bin Ahmed Kanoo Co Ltd

WIP valuation therefore affects the current assets section of the balance sheet and the retained earnings

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