Financial accounting for trusts and estates is not necessarily concerned with keeping track of income and expenses. Usually, it is determining whether receipts and expenditures are related to income or principal.
This CPE Webinar describes the standard of the Financial Accounting Standards Board (FASB) for Fiduciary Accounting and Reporting. Fiduciary accounting is the technique by which the fiduciary informs beneficiaries about the assets in the fiduciary's custody. Because there is an obligation to keep records. Although many of the principles and rules of fiduciary accounting fluctuate from state to state, there are basic rules that apply to the accounting procedures expected of all fiduciaries.
The standard for Fiduciary Accounting and Reporting has the primary objective to improve financial reporting by addressing issues related to Fiduciary Accounting and Reporting as set out in the Uniform Principal and Income Act (UPIA). Fiduciary accounting for an estate or trust that meets minimum guidelines can be an intricate task.
Because the UPIA tries to synchronize the laws at the State level, the Act spells out the rules of engagement for fiduciary accounting and reporting by trusts and estates. It tries to carry out the intention of the person who created the trust. The Act sets out how assets are to be dispersed. Most states have adopted the Act (sometimes with some changes along the way.
Join this CPE Accounting Webinar it will highlight the difference between fiduciary accounting and corporate accounting. This course outlines an easy-to-understand step-by-step procedure for Fiduciary Accounting and Reporting.
Major Topics Covered:
Founder, Mike Morley
Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is the author of:
“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
Course Level
Credits
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
RK
This was my first class with MyCPE, and it was a favorable experience. However, it would have been beneficial if the presenter provided illustrations of reports.
GK
the wording on the quiz questions were a little confusing, but overall it was a good course.
TH
Important information. Well presented.
AB
Good Presentation
SREL
no comments.
Access to 13000+ Hours of Continuing Education Approved Content Know More
Subscribe To Access
