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Settled and Approved: Fiduciary Accounting from Start to Finish 4172186D
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Typically, trustees and executors must account annually while conservators and guardians must account every two years. Very few attorneys and CPAs who represent fiduciaries understand how to prepare and present fiduciary accountings.

 Export to Your Calendar 1/29/2018
When: 9:30 AM to 5:00 PM
Where: Webinar/Webcast
United States
Presenter: Michael C. Gerson, LL.M
Contact: April Deneault
801-466-10917


Online registration is available until: 1/29/2018
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Curriculums:   Trusts and Estate Planning,Accounting and Financial Statements,Young and Emerging Professionals

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

Typically, trustees and executors must account annually while conservators and guardians must account every two years. Very few attorneys and CPAs who represent fiduciaries understand how to prepare and present fiduciary accountings. This course will explore the differences between fiduciary accounting and tax and financial accounting; use real-world examples to move from basic concepts of fiduciary accounting to more complicated aspects of the Uniform Principal and Income Act; and discuss techniques for highlighting the fiduciary's good deeds while mitigating the bad. Also, explore fiduciary fees and the challenges CPAs face when they serve as trustees.

Materials are provided as an ebook.



Major Subjects

  • CPA responsibility when preparing a fiduciary accounting
  • Record keeping and accounting duties of executors, trustees, agents, etc.
  • Depreciation and depletion in trust and estate accounting
  • Weird assets: options, derivatives, timber and IRAs
  • Court vs. noncourt accountings

Objectives

  • Determine how to produce the summary of account and each supporting schedule.
  • Recognize California's Uniform Principal and Income Act.
  • Recognize when the fiduciary's records reveal a breach of trust.
  • Determine how to get the records you need to do the job you were hired to do.

Level:  Beginning

Designed For

CPAs, attorneys, trustees and trust administrators.

Advanced Prep:

None.

Prerequisite

None.

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