This Rule defines 'works in progress' as costs incurred by an Incorporated Body for uncompleted works where no corresponding revenue was recognised during the tax period. These costs, subject to examination for existence, shall be carried forward to the subsequent year. This treatment applies to contracts commencing at the end of the financial year or ongoing contracts whose revenues are unrecognised or cannot be reliably measured. The Incorporated Body is entitled to carry forward such costs, provided any estimated revenue is not less than the incurred cost. Special cases require consultation.