LIFO


Also found in: Dictionary, Thesaurus, Legal, Financial, Idioms, Encyclopedia, Wikipedia.
AcronymDefinition
LIFOLast In, First Out
LIFOLast in First Out
LIFOLife Orientations (trademark of Business Decisions International Pty Ltd)
LIFOLiner In Free Out (shipping)
LIFOLocked Intramedullary Flexible Osteosynthesis (fracture treatment)
References in periodicals archive ?
Results for the year-ago quarter reflected $70 million in Alliance Boots transaction costs; an $85 million LIFO charge; and $45 million in acquisition-related amortization costs.
However, under the LIFO method, the inventory on hand at the conversion date is not treated as being disposed of until the conversion layer is decreased.
The increase in multinational companies and the disparity in financial reporting standards among countries add to the complexity of satisfying the LIFO conformity rule.
Consistency of All inventories No explicit guidance, measurement having similar so companies can use nature and use LIFO for U.
Changing from LIFO to another inventory method would generally increase a company's taxable income.
Present a short report or memorandum on the assessment of the switch away from LIFO on the current financing situation of the company as well on its prospective issuance of common stock.
The tax benefits associated with using the LIFO method must in turn be balanced against the other reality of reporting lower earnings.
While most respondents felt LIFO routing was definitely the better methodology, there were definitely some areas of concern.
Instead the income reflects the tax benefits that the firm received by using the LIFO method instead of the new method.
The authors studied a database from COMPUSTAT of 175 FIFO firms and 48 LIFO firms with respect to the eight above-mentioned factors.
In 2006, lawmakers considered repealing LIFO for large oil companies as a means of paying for increasing small business expensing.
Boyle noted that "repealing the LIFO method--which the Code has permitted for nearly seven decades--would adversely affect many business taxpayers by increasing their tax bills, potentially leading to a significant loss of U.