2024 MSCPA Annual Convention: Details

2024 Fiduciary Accounting: Fundamentals & Rules

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Wednesday, October 30, 2024 @ 3:00pm – 5:00pm
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Description

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. 

Prerequisites

Basic working knowledge of accounting for estates and trusts

Highlights

  • 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

Objectives

  • Apply a working knowledge of the financial accounting rules for estates and trusts
  • Identify planning and potential pitfalls

Preparation

None

Credits

Category Amount
Accounting&Auditing 2.00