Are Construction Works-In-Progress a Current Asset?

No, construction works-in-progress are not current assets.

A current asset is any asset that will provide an economic benefit for or within one year. A construction work-in-progress is recorded in a company’s balance sheet as a part of the PP&E, or property, plants, and equipment account. PP&E has a useful life of longer than one year, so construction works-in-progress and other PP&E costs are considered non-current assets.