Contabilidad fiduciaria

Páginas: 4 (758 palabras) Publicado: 29 de marzo de 2011
A fiduciary is someone who is in a position of trust. In fiduciary accounting, a trusted person is required to keep detailed financial records when administering a trust or when acting as theexecutor of the estate of a deceased person. The fiduciary may also be managing assets for a minor child until he or she reaches the age of majority. The records may be filed with the court as part of alegal proceeding, and it is essential that they be accurate.
A trust is made up of the principal, which is the original amount of the cash or other assets that are placed within it, and income. Anycapital gains are added to the principal, while expenses and capital losses incurred are deducted from this amount. Any debts incurred by the trust are also subtracted from the principal.
the fiduciaryaccounting statement lists the principal, as well as any income the trust or estate received. The income may be in the form of interest or dividends earned on investments. Income is listed separately onthe accounting statement, since the beneficiaries for each form of income may be different, depending on the terms of the trust or the individual's will.
If any portions of the assets held in thetrust or forming part of the estate were sold by the administrator or the executor, the fiduciaryaccounting statements must show the "book value" of the property as well as the selling price. The gainor loss is noted in the records. This figure may be used to for calculating capital gains or capital losses.
Any income made by the trust or the estate is listed in order, by date and type of receipt.This method of showing the records makes it easier for anyone reviewing the fiduciary accounting statements to see if any statements are missing. Receipts for rent, interest payments or dividendsreceived would be used for this purpose.

Any payments made from the trust or the estate are listed in the fiduciary trust accounting statements. These may include expenses incurred in administering...
Leer documento completo

Regístrate para leer el documento completo.

Estos documentos también te pueden resultar útiles

  • Sociedades Fiduciarias
  • Albaceas fiduciarios
  • Responsabilidad Del Fiduciario
  • Propiedad Fiduciaria
  • Sector Fiduciario
  • Origen fiduciarias

Conviértase en miembro formal de Buenas Tareas