LIFO


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LIFO

phr. last in, first out. (Computers. Acronym. Refers to the order of data put in and returned from the processor.) I can’t remember whether the stack is LIFO or FIFO.
References in periodicals archive ?
Some taxpayers consider changing from the LIFO method before or after an S election, believing that the effort to maintain the LIFO calculation is not worth the benefit after the LIFO recapture amount is recognized as income.
taxpayer had violated the LIFO conformity rule by providing a bank with financial statements prepared under both U.
Although a brief summary of LIFO and FIFO is presented in the case, a more thorough review may be necessary.
One important aspect of this change is the elimination of the use of the LIFO method because the IFRS simply does not allow it.
To me, it seems the solution to both concerns for LIFO routing would be to set a threshold that monitors wait times and moves calls up in priority after they had waited for X minutes.
A bill to repeal LIFO inventory accounting for tax purposes and permit a 10-year Sec.
The results of the study indicated that multinational companies generally chose LIFO for their inventory valuation method.
That leads us to the conclusion that a company's choice of FIFO or LIFO has no effect on potential recovery from business income insurance--at least no effect that a risk manager can predict with an acceptable degree of accuracy.
Thus, the communicator may decide that Dollar-Value LIFO is not relevant and omit it.
With a LIFO election, the roaster's balance sheet will reflect inventory carried at $1.
Frontier's President & CEO, Mike Jennings, commented, "Our conversion to LIFO represents both a significant cash tax savings to the Company and improved comparability to our refining peer group, almost all of whom report on a LIFO basis.
0 million charge to record LIFO inventory at the lower of cost or market, which partially offset LIFO income of $30.
Baucus's proposal also would repeal the long-standing last-in, first-out (LIFO) rules, increasing taxes both retroactively and prospectively for LIFO users.
Among the multitude of potential changes to the company' financial statements that might be expected from a switch to IFRS, the one that John is most concerned about is the abolition of using the LIFO (last-in, first-out) inventory costing system that his company has been using.