The Talbots Inc and Subsidiaries Accounting for Goodwill Case Solution

Posted by markwahl barg on June 7th, 2018

The Talbots Inc and Subsidiaries Accounting for Goodwill Case Solution

When students hold the British-language PDF from the Brief Case in the course pack, they'll may also buy a sound version. Around 2006, Talbots, Inc., a distinct segment women's store, purchased a competitor, J. Jill. The transaction created a substantial goodwill account along with comprises about trademarks together with other intangible assets. Using prevailing accounting standards (Statement of financial Accounting Standards No. 142), Talbots determined the goodwill wasn't impaired within the Fiscal Year 2007 plus it was moved forward at its purchase cost. However, twelve several weeks later Talbots found the goodwill impaired, along with the trademarks and several store assets acquired from J. Jill around 2006, which problems were deducted from revenues in Fiscal Year 2008. Case includes financial claims.