Fiduciary Accounting for Estates & Trusts - 2 Hours

Tuesday, November 22, 2022
Webcast or Webinar, Online
10:00AM - 11:50AM (opens at 9:30 AM) EST
2Credits
Technical Business

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price
Course Type: Webcast
Course Code: 22/AC964660
Level: Intermediate
Vendor: ACPEN
Field of Study: Accounting

Overview:

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.

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

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

Designed For:

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

Prerequisties:

Basic working knowledge of fiduciary accounting.
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org