work in process

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Work in Process

Products of a company that are in inventory but are incomplete. They are held in inventory while they are completed and made ready for sale. In the accounting of inventory, work in process is recorded under assets and is valued at its cost or realizable value, whichever is less. Just as commonly, works in process are called goods in process.

work in process

The partially finished goods that are held in inventory for completion and eventual sale. Also called goods in process.
References in periodicals archive ?
WiP people arecurious about the history of the U.S.
The reason for applying it is that it is easier to see the difference in the drop of performance regarding WIP. These characteristics are calculated in the following way.
She added: "There is still much to be done to build awareness and demonstrate the value of diversity and I'm looking forward to helping WiP make a difference in the region."
pe data has been recorded in pe frequency range from 10-1 Hz to 105 Hz wip a voltage of 0.7Vrms and zero dc bias at room temperature.
At Waterloo, one of the city's busiest transport hubs individuals subject to a WIP order are also warned that they will be unable to collect methadone prescriptions from Boots Chemist on the station concourse.
She has been a member of WiP South Wales for four years and was previously a member of WiP South-West branch.
The unit is the country's third WIP, joining those at Trombay and Tarapur.
The UAE has emerged winner of the 'WIP Awards for Closing the Gender Gap', in the category 'Achievements In Closing The Gender Gap In The Arab World", in recognition of its efforts to advance women and promote gender equality.
WIP conference participants include Ellen Johnson Sirleaf, president of Liberia; Portia Simpson Miller, prime minister of Jamaica, Tarja Halonen, former president of Finland, European Commission vice presidents Viviane Reding and Neelie Kroes as well as the European Parliament vice-presidents Roberta Angelilli, Anni Podimata and Isabelle Durant.