How are some of the issues of estates

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Reference no: EM13520902

Estates and trusts have accounting issues that are often outside the realm of GAAP. For instance, the fair division of income may be more important to the stakeholders in an estate distribution than accrual basis financial statements.

Please explain some of the issues that the accountant must deal with in this area. How are some of the issues of estates and trust similar in nature? Different?

Please explain in 200 words

Reference no: EM13520902

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