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Friday, November 5, 2010. CIP CONSTRUCTION IN PROGRESS. In accounting, CIP is a long-term asset account in which the cost of asset NOT YET COMPLETED. Technically, Construction in Progress. CIP asset 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. Subscribe to Posts Atom. View my complete profile. CIP CONSTRUCTION IN PROGRESS. Redlans Web Of Arts. 169; eJAYs Per.CONTENT
This web page ejay-perception.blogspot.com states the following, "Friday, November 5, 2010." We saw that the webpage said " In accounting, CIP is a long-term asset account in which the cost of asset NOT YET COMPLETED." It also said " Technically, Construction in Progress. CIP asset 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."