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.
DESIGNED FOR
Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting of estate and trusts issues
BENEFITS
- Apply a working knowledge of the financial accounting rules for estates and trusts
- Identify planning and potential pitfalls
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
PREREQUISITES
Basic working knowledge of accounting for estates and trusts
ADVANCE PREPARATION
None