CAT / FIA FFM Syllabus A. Working Capital Management - Work In Progress - WIP - Notes ^{1 / 5}

Material that has entered the production process but is not yet a finished product.

Work in progress (WIP) refers to:

1. partly finished products

2. all materials that are at various stages of the production process

WIP excludes

1. inventory of raw materials at the start of the production cycle

2. finished products inventory at the end of the production cycle.