Settled and Approved: Fiduciary Accounting from Start to Finish | 4192186A

Instructors

Date :
November 11, 2019 8:30 AM - 4:00 PM
Location :
San Francisco Peninsula
Facility :
CalCPA Boardroom - Burlingame
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Level of Difficulty :
Basic
Member Price :
295.00
Nonmember Price :
400.00
CPE Credits :
CPE 8.00, AA 8.00, MCLE 6.50, MCLE LS-EP 6.50
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Typically, trustees and executors must account annually while conservators and guardians account every two years. Few attorneys and CPAs who represent fiduciaries understand how to prepare and present fiduciary accountings. Explore differences between fiduciary accounting and tax and financial accounting.

Real-world examples will be used 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.

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.

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. non-court accountings

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Basic
Field of Interest:
Taxes
Prerequisites:

None.

Designed For:

CPAs, attorneys, trustees and trust administrators.

Instructors

Leighton Burrey

Materials:

  • Materials - Hardcopy Textbook
  • Materials - ebook