New evidence on the incremental information content of earnings reported using the LIFO inventory method |
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Authors: | Robert Houmes Denise Dickins Ruth O'Keefe |
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Institution: | 1. Jacksonville University, 2800 University Blvd. N., Jacksonville, FL 32211, United States;2. East Carolina University, Department of Accounting, 3412 Bate Building, Greenville, NC 27858, United States |
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Abstract: | This study extends prior research by comparing the relative information quality of LIFO earnings and non-LIFO earnings using updated data and methodology. Results suggest LIFO earnings are incrementally informative independent of tax reporting implications. In addition to shedding light on why the results of prior studies present conflicting evidence about the relative information content of LIFO, these findings are important in light of international accounting standards convergence efforts, under which LIFO is currently prohibited. |
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Keywords: | Last-in-first-out First-in-first-out Information quality |
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