WORK IN PROCESS Definition

Bookmark and Share

WORK IN PROCESS is parts and subassemblies in the process of becoming completed finished goods.

Learn new Accounting Terms

FINANCIAL POSITION is the status of a firms or individuals assets, liabilities, and equity positions as reflected on its financial statement.

COMPILATION is the presentation of financial statement information by the entity without the accountant's assurance as to conformity with Generally Accepted Accounting Principles (GAAP). In performing this accounting service, the accountant must conform to the AICPA Statements on Standards for Accounting and Review Services (SSARS).

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.