Trust accounting question

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#1
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Doing trust accounting in court format. I generally follow AICPA procedures and theres flexibility on reporting. My question is what you see more often.

Trust is single member of an LLC that operates a business. LLC has it's own bank account.

Do you typically see an equity method of accounting even with 100% ownership or do you see in these cases the trust accounting showing every cash transaction that the business has?

I left it up to the trustee as to how he wants to show it to the beneficiaries as I've seen it both ways. Just not sure what's more common.
 

#2
sjrcpa  
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I see the trust use the equity method of accounting. Then there is a separate accountimg for the LLC.
 

#3
JAD  
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I have the 2016 Fiduciary Accounting Handbook by CEB (Continuing Education of the Bar). If you want it, PM me with your address. I will send it to you.
 


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