Search results
Results From The WOW.Com Content Network
An accountancy term, construction in progress (CIP) asset or capital work in progress 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 ...
A capital improvement plan (CIP), or capital improvement program, is a short-range plan, usually four to ten years, that identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan.
Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).
CIP-Tool, for modelling event-driven processes; Common Indexing Protocol, for exchanging index information; Common Industrial Protocol, automation protocol; Core Independent Peripherals, an implementation of autonomous peripheral operations in microcontrollers
The Completed-contract method is an accounting method of work-in-progress evaluation, for recording long-term contracts. GAAP allows another method of revenue recognition for long-term construction contracts, the percentage-of-completion method.
Patton, who retired from the presidency in 2008, oversaw the addition of a student recreation center, a library renovation and the construction of the first dormitories. As the university evolved into a more traditional campus, Patton reconsidered his earlier opposition to football and commissioned a feasibility study from outside consultants.
That doesn’t mean you should steer clear of the doctor if your cough is dragging on that long, but it does mean you could be dealing with an annoying cough for a while, even if you don’t have ...
In OCIP, all construction, materials, hazard, workers' compensation, environmental, terrorism, and other building-related insurance is purchased by the property owner as part of a single policy from a single insurer. Thus, property owners benefit from OCIP in that all insurance costs are collected into a single policy premium, rather than ...