Fiduciary Accounting for Estates & Trusts - 4 Hours
Total Credits: 4 including 4 Accounting - Technical
- Average Rating:
- 70
- Categories:
- Industry | ACPEN Industry Institute
- Faculty:
- Doug Van Der Aa, CPA, JD
- Course Levels:
- Intermediate
- Duration:
- 4 Hours
- License:
Description
Financial accounting for trusts and estates is one of the least understood branches of accounting. Fiduciary accounting 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. Only after that is known can the trustee begin to make their required and discretionary distributions to beneficiaries. However, very few noncorporate trustees have any idea of what is required for proper trust accounting and reports. This course will dive into this tricky area and provide a reporting guide for fiduciary accounting.
Basic Course Information
Learning Objectives- To provide a working knowledge of the financial accounting rules for estates and trusts
- Discuss planning and potential pitfalls
Major Subjects
- Examine provisions of the Uniform Principal and Income Act
- Mandatory and discretionary allocations and adjustments (did you know that depreciation is a Discretionary adjustment?)
- Trustees ability to override the fallback rules
- Review the contents of a proper set of trust accounting statements
Course Materials
| Important Course Information_Read First (442.7 KB) | Available after Purchase | ||
| Fiduciary Accounting Estates and Trusts (4) Handout (4.4 MB) | Available after Purchase | ||
Faculty
Doug Van Der Aa, CPA, JD Related Seminars and Products
Doug Van Der Aa, CPA, JD, is a lively and energetic speaker on the subject of taxes and ethics, and has extensive experience in leading discussions for conferences, seminars and webinars. He is a highly rated speaker and seminar leader for state CPA societies and other organizations throughout the country.
Van Der Aa has more than 25 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. His practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts.
Van Der Aa 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.
Additional Info
Basic Course Information
Advanced PreparationNone
Course Developer
Van Der Aa Tax Ed, LLC
Designed For
Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting of estate and trusts issues
Yellow Book
No
Original Recording Date
04/01/2022
Prerequisites
Basic working knowledge of fiduciary accounting
Date Added to Catalog
02/14/2022
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Course Registration Requirements
Online Registration
Instructional Delivery Method
Group Internet Based
Official Registry Statement
Business Professionals' Network, Inc. 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 through its website: www.nasbaregistry.org
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
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