1. Have anyone done The Talbots, Inc.,and Subsidiaries: Accounting for goodwill. Case Study;
2. What journal entry(s) was required when Talbots recorded the purchase of J. Jill?
3. Compare your estimates of income for Fiscal Year 2008 in question 4 to the net loss actually reported after the impairments and reorganization charges taken in FY 2008. Are the differences significant? What would the loss have bben without those impairments being recognized?
4. In your opinion does the use of unverifiable fair value in financial reporting improve the usefulness of financial reports, or does it merely provide another variable for managements to use opportunistically in their financial reporting processes?