Fiduciary Accounting & Tax Preparation for Estates & Trusts

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Event Details

Friday, August 26, 2022

8:00am – 4:00pm
(Registration: 7:30am)


Hilton Garden Inn

2465 Grant Rd

Billings, MT 59102


Field of Study

  • Taxes

CPE Credit

8 hours CPE credit

Course Code



Level of Knowledge



Van Der Aa Tax Ed LLC


Basic working knowledge of S corporations.


All materials will be electronic only

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.


  • 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


Upon completion of this course you will be able to:

  • Provide a working knowledge of the financial accounting rules for estates and trusts.
  • Discuss planning and potential pitfalls.

Designed For

Experienced CPAs working with estates and trusts.

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