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Difference between material in transit and capital work in
progress
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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 |
Answer / venkatesh
material in transit and capital work in progress are two
different words.
material transit means the Raw material is in the position
of final product but those are also deliverd to the third
party but those are in transit.
work in progress means the material is in the position of
not in final product or finished goods those goods are to
be used in the future course of action.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / senthil kumar
Material in transit which means goods are manufactured as
per the customer need and that goods are dispatched from
manufacturing unit to customer place that period of time
was called as material in transit.
capital work which means capital is nothing but cash. so
company will work to making up the capital wealth high that
is called as capital work.
| Is This Answer Correct ? | 4 Yes | 7 No |
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