Construction in Progress
From Wikipedia, the free encyclopedia
 |
This article is an orphan, as few or no other articles link to it. Please introduce links to this page from other articles related to it. (February 2009) |
An accountancy term, Construction in Progress (CIP) asset entry records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A CIP item is not depreciated until the asset is placed in service. Normally, upon completion, a CIP item is reclassified, and the reclassified asset is capitalized and depreciated.
 |
This accounting-related article is a stub. You can help Wikipedia by expanding it. |
