This course will dive into the fundamentals of fiduciary accounting and provide a reporting guide for determining whether receipts and expenditures are assigned to income or principal/corpus.
Learning Objectives
Apply a working knowledge of the financial accounting rules for estates and trusts
Identify planning and potential pitfalls
Major Topics
Fundamentals of fiduciary accounting
Uniform Principal and Income Act
Mandatory and discretionary allocations and adjustments
Address the trustees ability to override the fallback rules
Review the contents of a proper set of trust accounting statements
CPE Credits Available
2 CPE
2
Accounting&Auditing
Things to Know About This Course
Course Level
Intermediate
Prerequisites
Basic working knowledge of accounting for estates and trusts
Advanced Preparation
None
Intended Audience
Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting of estate and trusts issues
