LIFO


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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)
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References in periodicals archive ?
Excluding the debt retirement loss, LIFO, EnvisionRx amortization, and M&A costs, adjusted pretax income was down by 54.5% to $131.3 million.
However, excluding special items --most notably a $160.4 million LIFO charge--adjusted operating income for the half improved 13.3% to $739.3 million.
1363(d) prevents a taxpayer from avoiding the BIG tax related to the LIFO recapture amount, it does not eliminate the need to consider additional built-in gain related to LIFO inventory.
During inflationary times, companies can reduce their taxable income by using the last-in, first-out (LIFO) cost flow assumption for inventories.
Initial Cost--specific Cost--specific cost, measurement cost, LIFO, average cost, FIFO.
Changing from LIFO to another inventory method would generally increase a company's taxable income.
Since the economy has been in a slow growth mode and credit is not readily available as it once was, puling the plug on an existing tax loophole like LIFO that gives a $72 billion benefit to business would effectively be adding a $72 billion tax to businesses.
To find out if other contact center veterans agreed with the LIFO routing changeup, I posted the information on our blog site to see if it would solicit any thoughts.
Even if companies were no longer permitted to use LIFO for financial reporting, they could continue to use it to calculate taxes if either the Treasury or Congress eliminated the LIFO conformity rule that requires companies to use the same inventory accounting method for tax returns as for their financial reports.
If LIFO alone was applied it is highly likely that a different conclusion would have been reached.