Difference between material in transit and capital work in
progress
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Answer Posted / s balasubramanian
Material in transit will not be accounted unless u have
clear title and transfer in your (company's name) name. It
will not be taken as inventory.
Whereas Capital work in progress, where the project is
under implementation, due to progress in work and
implementation, the half-finished work will be treated as
Capital work in progress and added to your Fixed Assets in
the Balance sheet. No depreciation will be provided on
Work in progress value. On completion, the amount will be
capitalised and added to the concerned Asset value like
Buildings, plant & machinery, Electrical items etc.
| Is This Answer Correct ? | 9 Yes | 2 No |
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