A work in progress is a task, assignment, or project that is still under production. Accountants consider WIPS as current assets because they are expected to be completed within one year.

An "In Progress" tag is for those tasks that you're in the ... and your files can pass through each stage as you create them, work on them, and finish them. Seeing your "To-Do" list get smaller ...

Reviewed by Chip Stapleton Fact checked by David Rubin Accountants consider works in progress (WIP) to be current assets ...