Goods In Process

Views Updated: Dec 15, 2025

Key Facts

Abbreviation
GIP
Pronunciation
/gʊdz ɪn ˈprɔˌsɛs/
Category
Business
Related Field
Accounting

Examples in Context

  1. In manufacturing enterprises, there are three major types of inventories : raw materials, goods in process of manufacture, and finished goods.
  2. In the cost flow of a job order costing system, the account of Goods in Process is the heart.
  3. But, the real amount, including all the " goods in process ", might be more than 30 per cent, he calculates.
  4. As a result, the total cost of the remaining job cost sheets in the subsidiary Job Cost Ledger continues to equal the debit balance in the Goods in Process controlling account.
  5. In freightage insurance contract, of insurance mark is the goods in carriage process.

Other meanings of GIP

Global Internship Program Business
Groupement Industrie Promotion Misc
Global Investor Programme Business
Group on Institutional Planning Gov
Gender Identity Project Misc
Global Immersion Program Misc
Gnome Install Project Computing
Group Insurance Premium Business
Geo information Processing Misc
General Information Plan Business