Accounting Dictionary - Letter C

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Construction in progress
represents fixed assets under construction. Construction in progress is recorded in a similar named general ledger account and remains in this account until the assets under construction are put in service, at which time the costs of the assets are transferred into respective property, plant, and equipment accounts.
Go Back
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course: