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- LIFO
- last in first out: a technique used when selecting employees for layoffs, where the most recent recruits are the first to be laid off. The LIFO technique has the benefits...
- LIFO definition on BNET »
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- AK Steel Holding Q3 2009 Earnings Call Transcript
- Question-and-Answer SessionOperator Thank you, Mr. Wainscott. We'll not begin the question-and-answer portion of our conference call. Operator Instructions. Our first question comes from Michael Gambardella of JPMorgan. Michael Gambardella - JPMorgan Hey, good morning Jim and Al and congratulations on going back into the black. Albert Ferrara Jr. Good...
- Earnings calls 2009-10-27
- Owens & Minor Inc. Q1 2009 Earnings Call Transcript
- Question-and-Answer Session Operator Operator Instructions Your first question comes from Larry Marsh - Barclays Capital. Lawrence Marsh - Barclays Capital I can relate to the advice some one of your hospital CEOs, except most days I feel like I’m knowing that’s getting blocked and tackled, anyway just a...
- Earnings calls 2009-04-21
Additional Resources
- Inventory acquisition and dollar-value LIFO - the effect of bargain prices
- Companies that use LIFO to minimize the taxation of illusory inventory profits should never forget that LIFO can turn around and bite them when inventory levels decline. Recently, the Tax Court handed down a decision that could cause LIFO companies to be hit with a large tax bill even...
- Research articles 1992-03-01
- Do LIFO Manage Inventories and Accruals to Meet Tax and Financial Reporting Objectives?
- We examine whether managers adjust LIFO inventories other current accruals and depreciation consistent with the objective of minimizing taxes debt-related costs costs of foregoing smoothed earnings and adjustment costs. Our findings indicate long-time LIFO users on average manage inventories to smooth earnings and reduce debt costs and manage current accruals...
- White papers 2003-01-01
- Senate bill could remove LIFO.(last in, first out inventory accounting method)(Brief article)
- A bill now before the Senate could remove LIFO (last in, first out) as an accepted method of inventory accounting. The bill proposed two months ago is meant to pay for a $100 tax rebate on gas for all families. The...
- Research articles 2006-06-24
- LIFO vs. FIFO: a return to the basics
- Whether a company presents its financial statements using the last in, first out LIFO valuation technique or the first in, first out FIFO method, lenders should understand them both. This article presents an overview of both systems and explains their inherent advantages and disadvantages. Since the early 1970s, a...
- Research articles 2002-10-01
- Tax-free basis step-up for LIFO bargain purchases.(last-in-first-out inventory accounting)
- In LaCrosse Footwear, Inc. (1998), the Court of Federal Claims rendered an opinion with an interesting twist on the separate-item treatment for bargain-purchased LIFO inventory created by the decisions in Hamilton Industries, Inc., 97 TC 120 (1991), and Kohler Co., 124 F3d 1451 (Fed. Cir. 1997)....
- Research articles 1999-06-01
- LIFO vs FIFO Inventory Accounting at Home Depot
- Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the wholesale-retail world as an “ERP†system, Home Depot is now keeping track of inventory values in its Canada retail operations...
- Blog posts 2008-12-27
- Out with the bad, in with the good: forget about LIFO's poor reputation-find out how the IRS is making it better for you - Tax Talk - last-in, first-out method of inventory accounting
- HERE'S SOME GOOD NEWS ABOUT inventory methods and their potential tax impact. The IRS issued new regulations that make the LIFO (last-in, first-out) method of accounting for inventory far more attractive than it used to be. In fact, says Brian Lucas, federal tax partner in the Chicago office of accounting...
- Research articles 2002-12-01
- TEI opposes LIFO repeal, urges retention of current practice for filing schedule E: also comments on Canadian Tax Reform and other topics, releases U.S. liaison meetings Minutes
- Comments submitted during the last few months have demonstrated the depth and breadth of Tax Executives Institute's global presence. In June, TEI urged the Senate Finance Committee to retain the last-in, first-out inventory LIFO accounting method as part of the Internal Revenue Code. The Institute also commented to the Internal...
- Research articles 2006-05-01
- Lincoln Electric Holdings Inc. Q3 2009 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions Your first question comes from Walt Liptak - Barrington Research. Walt Liptak - Barrington Research I wanted to ask, you mentioned something about a LIFO adjustment in the quarter, Vince? Vincent Petrella Yes, so we’ve had LIFO adjustments during the course of the year...
- Earnings calls 2009-10-30
- Allegheny Technologies, Inc. Q2 2008 Earnings Call Transcript
- Question-and-Answer SessionSure. [Operator Instructions]. And your first question comes from the line of Michael Gambardella. Please proceed, sir. Michael Gambardella - JP Morgan You gave for the full year the $5.80 to $6.10, what's your assumption for just the back half of the year on the LIFO for the...
- Earnings calls 2008-07-23
- Commercial Metals F3Q08 (Qtr End 5/31/08) Earnings Call Transcript
- Question-and-Answer Session Operator Operator Instructions Your first question comes from Michelle Applebaum of Michelle Applebaum Research. Michelle Applebaum - Michelle Applebaum Research I have -- first of all, congratulations to Stan. I’ve known you for 28 years and you are one of the best people I’ve ever worked with,...
- Earnings calls 2008-06-18
- Kroger F1Q07 (Qtr End 5/26/07) Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions. Our first question will come from the line of Chuck Cerankosky of FTN Midwest. Please proceed. Chuck Cerankosky - FTN Midwest If we're looking at the tax rate increase, Mike, anything you could comment on that? Mike Schlotman Nothing in...
- Earnings calls 2007-06-26
- Allegheny Technologies Incorporated Q3 2008 Earnings Call Transcript
- Question-and-Answer Session Operator Operator Instructions Your first question comes from Michael Gambardella - J.P. Morgan. Michael Gambardella - J.P. Morgan In your guidance that you gave for next quarter, what is the LIFO assumption in that guidance? L. Patrick Hassey I'm going to let Rich take that...
- Earnings calls 2008-10-22
- Tractor Supply Company. F4Q08 (Qtr End 12/27/08) Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions Your first question comes from Mitch Kaiser with Piper Jaffray. Mitch Kaiser - Piper Jaffray One of the things I really liked about the prepared remarks is that you are assuming a warmer March in the northern states. We’d really appreciate that....
- Earnings calls 2009-01-28
- Koppers Holdings Inc. Q4 2008 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions Our first question comes from Laurence Alexander – Jefferies & Company. Laurence Alexander – Jefferies & Company I guess first question, you mentioned that you thought there would also be a LIFO impacting in Q1. Will it be similar to [inaudible]...
- Earnings calls 2009-02-17
- Precision Castparts Corp. F4Q09 (Qtr End 03/31/09) Earnings Call Transcript
- Question-and-Answer Session Operator Operator Instructions We’ll take our first question from Robert Stallard with Macquarie. Robert Stallard – Macquarie Good morning. Mark, just first of all on fiscal 2010, can you walk us through sequentially how you think EPS is going to progress. Do you think it’s going...
- Earnings calls 2009-05-05
- Cabot Corporation Q3 2008 Earnings Call Transcript
- Question-and-Answer Session Operator Thank you. Operator instructions Your first question comes from the line of David Begleiter with Deutsche Bank. Please proceed. David Begleiter – Deutsche Bank Thank you. Good afternoon. Patrick, just on rubber blacks, looking at a normalized profitability of $47 million in Q3 ?08,...
- Earnings calls 2008-07-24
- Nucor Corp. Q2 2008 Earnings Call Transcript
- Question-and-Answer Session[Operator Instructions]. And we will go first to David Gaglianowith Credit Suisse. David Gagliano - Credit Suisse Hi. I just have a couple of questions there to clarify the... so the outlook for Q3. What's the LIFO charge embedded in your third quarter target? Terry S. Lisenby -...
- Earnings calls 2008-07-17
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