2024 Fiduciary Accounting for Estates and Trusts
Wednesday, November 20, 2024
Webcast or Webinar, Online
2:00 PM - 6:00 PM (opens at 1:30 PM) EST
4Credits
Accounting and Auditing
Registration is Open
Members
$129.00 Regular Price
Non-Members
$159.00 Regular Price
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$80.00 Members / $112.00 Non-Members
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Course Type: Webcast
Course Code: 24/AC122841
Level: Intermediate
Vendor: ACPEN
Field of Study: Accounting
Overview:
Financial accounting for trusts and estates is one of the least understood branches of accounting. It 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:
- Apply a working knowledge of the financial accounting rules for estates and trusts
- Identify planning and potential pitfalls
Major Topics:
- 10 Principles of Tax Accounting for Trust Income
- Entity accounting income and Form 1041
- Uniform Principal and Income Act
- Discretionary Power to Adjust
- Allocations between principal and income
- Trust accounting issues
Major Topics:
- 10 Principles of Tax Accounting for Trust Income
- Entity accounting income and Form 1041
- Uniform Principal and Income Act
- Discretionary Power to Adjust
- Allocations between principal and income
- Trust accounting issues