2024 Fiduciary Accounting: Fundamentals & Rules

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Overview

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.

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

Designed For

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

Objectives

Apply a working knowledge of the financial accounting rules for estates and trusts
Identify planning and potential pitfalls

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Doug Van Der Aa, Federal Tax Workshops Inc

Leader Bios

Doug Van Der Aa, Federal Tax Workshops Inc

Doug has been a discussion leader for Federal Tax Workshops, Inc., for the past 11 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars. He is a regular and highly rated speaker and seminar leader for CPA associations other organizations throughout the country. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. As a CPA, Doug’s practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts. Doug taught for 10 years as an Adjunct Instructor and for one year as Assistant Professor of Accounting and Taxation for Grand Valley State University’s Seidman College of Business, where he taught in both the undergraduate and MST programs. He earned his Bachelor of Arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.

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