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Fiduciary Accounting for Estates & Trusts

1:00 pm–4:45 pm ET

# of CPE Credits

4

Description

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. Only after that is known can the trustee begin to make their required and discretionary distributions to beneficiaries. However, very few noncorporate trustees have any idea of what is required for proper trust accounting and reports. This course will dive into this tricky area and provide a reporting guide for fiduciary accounting.

Objective

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

Highlights

* Examine provisions of the Uniform Principal and Income Act * Mandatory and discretionary allocations and adjustments (did you know that depreciation is a Discretionary adjustment?) * Trustees ability to override the fallback rules * Review the contents of a proper set of trust accounting statements

Who Should Attend

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

Required Knowledge

Basic working knowledge of fiduciary accounting.

Advanced Prep

None

Event Speaker(s)

Doug Van Der Aa ( Van Der Aa Tax Ed, LLC, Novi, MI ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.

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Also Available As

Webcast
Friday, October 8, 2021 (1:00 pm–4:45 pm ET)
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Webcast
Monday, January 24, 2022 (1:00 pm–4:45 pm ET)
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Webcast
Tuesday, February 22, 2022 (1:00 pm–4:45 pm ET)
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Share This Event

Event Vendor:Van Der Aa Tax Ed, LLC
Field of Study:Accounting
Level: Intermediate

Event Type:Webcast
NASBA Instructional Method:Group Internet Based
Event Code:W0063521

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$135.00
Non-MemberN/A$185.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants 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: www.nasbaregistry.org/.

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