Fiduciary Accounting for Estates & Trusts - 2 Hours

Financial accounting for trusts and estates is one of the least understood branches of accounting. Fiduciary accounting is not particularly concerned with recording income and expenses but is obsessed with determining whether receipts and expenditures are assigned to income or principal/corpus. This course will dive into this tricky area and provide a reporting guide for fiduciary accounting.

Learning Objectives

To provide a working knowledge of the financial accounting rules for estates and trusts
Discuss planning and potential pitfalls

Major Topics

Examine provisions of the Uniform Principal and Income Act
Mandatory and discretionary allocations and adjustments
Trustees ability to override the fallback rules
Review the contents of a proper set of trust accounting statements

CPE Credits Available

Total CPE

2: Accounting & Auditing

Things to Know About This Course

Course Level

Intermediate

Prerequisites

Basic working knowledge of fiduciary accounting.

Advanced Preparation

None

Intended Audience

Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting of estate and trusts issues.

Provider

ACPEN