'Work In Progress' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. Work-in-Progress, or WIP, is a component of the Inventory account, which is reflected in the Asset section of the Balance Sheet (or the Statement of Financial Position). And this is where the confusion starts. Looking for the definition of WIP? Whip definition, to beat with a strap, lash, rod, or the like, especially by way of punishment or chastisement; flog; thrash: Criminals used to be whipped for minor offenses. And it manufactures one widget in two weeks. Let’s assume a company ABC manufacture certain widgets. That's why you usually see it in capital letters. ; What does WHIP mean? A whip is an official of a political party whose task is to ensure party discipline in a legislature.This means ensuring that members of the party vote according to the party platform, rather than according to their own individual ideology or the will of their donors or constituents. World Internet Project: WIP: World Institute of Pain: WIP: Watershed Implementation Plan (various locations) WIP: Wash-In-Place: WIP: Weekend Intervention Program (various locations) WIP: Work In … Mazda Lola B12/80 Model being worked on by xSYOx. Please look for them carefully. See more. Work in process is goods in production that have not yet been completed. The reality is work-in-process (WIP) has two different meanings. We know 39 definitions for WHIP abbreviation or acronym in 5 categories. Understanding Work in Process. For WHIP we have found 39 definitions. WIP stands for “work-in-progress.” It represents the total number of tasks being worked on at the same time — whether by a team or an individual. Porsche 911 GT America Model being worked on by Patrik Marek. Unfortunately you are getting a lot of incorrect answers, based on an incorrect definition by the Urban Dictionary, which do not always do their research properly. One that describes the physical state of the inventory, and another that describes an account used to track the value of work-in-process. Possible WHIP meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. Whips are the party's "enforcers". WHIP Stands For: All acronyms (39) Airports & Locations Business & Finance (1) Common Government & Military (2) … The whip was never used to steer a horse, the reins are. Work in Progress Cars . These goods are situated between raw materials and finished goods in the production process flow.. You may have seen other companies use the account title “Work-in-Process”. ORECA FLM09 Model being worked on by Paule_NLC. WIP Inventory – Example #2. Find out what is the full meaning of WIP on Abbreviations.com! Imagine 30 cars entering a roadway at a rate of one per second for a period of 30 seconds. Learn more. Chevy Corvette Daytona Prototype Model being worked on by Stereo. whip definition: 1. a piece of leather or rope that is fastened to a stick, used for hitting animals or people: 2…. WIP is short for Work in Progress.