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What is professional work in progress?

 
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What is professional work in progress?

Work-in-progress (WIP) is goods or services that you have not yet finished providing at the end of your fiscal period. Ex: If you are an accountant, and you were helping a client set up a business in December, but you didn’t finish until January, then the work you did in December could be considered WIP (if your fiscal year ends December 31st).