UAET
UNDERSTANDING ACCOUNTING ISSUES FOR ESTATES AND TRUSTS
Meeting Your Accounting and Auditing CPE Requirements
This one-day
program is designed to provide comprehensive coverage of fiduciary accounting.
This course will help practitioners build a unique practice working with
clients, attorneys, and estate planners.
Major topics include:
- Review
of major legal and tax concepts
- Concepts
of fiduciary accounting: Principal and income reports
- The Uniform
Principal and Income Act and your specific state laws on principal and
income applied to common expenditures and receipts
- The crucial
differences between fiduciary accounting and tax accounting
- How fiduciary
accounting income impacts distributable net income
- The unique
problems of distributions from an estate or trust and their impact on
fiduciary accounting
- How to
set up an accounting system for an estate or trust, prepare a judicial
accounting, and record-keep for fiduciary accounting
- How practitioners
can handle audits of estates and trusts
- Various
exercises and problems
Designed
for: All practitioners who wish to learn
about the complex and unique accounting issues for estates and trusts.
Level
of knowledge: Basic
Field
of study: Accounting
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