- published: 03 Jul 2015
- views: 752
An overview of accounting for fiduciary funds of state and local governments
Get your free trial of Wiley CPAexcel today http://ow.ly/ICCtm In this free CPA Exam Deep Dive from Wiley CPAexcel, Prof. Donald Deis of Texas A&M University - Corpus Christi provides an in-depth look at how a Tax Agency Fund (TAF) works. This is part of the overall Wiley CPAexcel lesson on Fiduciary Funds, which are covered in the FAR section of the CPA Exam.
Government & Non-Profit Accounting: Accounting for Fiduciary Activities - Agencies and Trust Funds (Chapter 8) April 3rd, 2013 by Professor Irfan Bora This lecture is begin with an explanation of how trust funds and agency funds are used to report on the fiduciary activities of a government. Agency funds and trust funds are also compared and contrasted (for trust funds, when they are used privately, for investing, or for pensions). The purpose and applications of agency funds is also discussed, as well as the standard activities and proper financial reporting for agency funds. The purposes, proper accounting, and proper financial reporting methods for cash, investment pools, investment trust funds, private purpose trust funds, and pension trust funds. Lastly, the proper accounting ...
Like us on Facebook: https://www.facebook.com/accountinglectures Visit the website where you can search using a specific term: http://www.farhatlectures.org/ Connect with Linked In: https://www.linkedin.com/in/mansour-farhat-cpa-cia-cfe-macc-2453423a/ Fiduciary funds, agency funds, trust funds, private-purpose funds, pension fund, investment trust funds, private-purpose trust funds
Four types of Fiduciary funds are Pension Trust funds, Investment Trust funds, Private Purpose Trust funds and Agency funds. Pension trust funds are funds held in trust for payment of employee retirement and benefits. Investment trust funds are funds held in a trust when government is trustee. Private purpose trust funds are trust arrangements where principal remains intact and income generated is used for the benefits. Agency funds are funds held by government in a purely custodial capacity. Audio - Video by SSK Advisory Our Website : http://www.sskadvisory.com/ Subscribe to us YouTube on https://www.youtube.com/channel/UCAnTXIXnZH5vlnfxbbl47OQ?sub_confirmation=1 Like us on Facebook at https://www.facebook.com/SSKAdvisory Follow us on Twitter at https://twitter.com/AdvisorySsk
Used to account for funds held by Govt entity as a Trustee or Agent Uses Accrual basis of accounting and Economic Resources measurement focus (2 Exceptions) Only Fund Statements are prepared by Fund Type Statement of Net Assets Statement of Changes in Fiduciary Net Assets Combining Statements
Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips. Connect with Last Week Tonight online... Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight Find Last Week Tonight on Facebook like your mom would: http://Facebook.com/LastWeekTonight Follow us on Twitter for news about jokes and jokes about news: http://Twitter.com/LastWeekTonight Visit our official site for all that other stuff at once: http://www.hbo.com/lastweektonight
If you've ever worked in finance or accounting, or tried to invest any money, you've probably come across the word "fiduciary." Understanding what a fiduciary is, and what their responsibilities are is important if you're risking your money, as this video explains.
An "#OfficeHours with Michael Kitces" Periscope, looking at the impending fiduciary Armageddon of (most) mutual fund share classes. For further details, see https://www.kitces.com/blog/variable-annuity-mutual-fund-share-classes-ending-under-dol-fiduciary/
What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY? Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered f...
Investors are taking a hard look at the people managing their money. Elliot S. Weissbluth, the CEO of HighTower, has been a visionary on this issue for over a decade. In this whiteboard video, Elliot cleverly explains the difference between brokers and fiduciaries and sheds light on the issues surrounding the industry. http://hightoweradvisors.com/ Securities offered through HighTower Securities, LLC, Member FINRA/SIPC/MSRB, HighTower Advisors, LLC is a SEC registered investment adviser.
Please like our Facebook page at https://www.facebook.com/rutgersweb To watch the entire video, go to https://www.youtube.com/watch?v=ThRGdw2NiR4 Video Summary: After giving a brief overview of the learning objectives of the chapter, the measurement focus is outlined (including the difference between operational and fiscal accountability). The modified accrual basis of accounting and accrual basis of accounting are also compared and contrasted. Following that, the primary activities of the government are discussed as well as the two basic sets of financial statements involved (government-wide and fund financial statements). Funds are also defined, as well as the different categories of funds (governmental funds, proprietary funds, and fiduciary funds) - however, governmental funds are fo...
NYT Best-selling author, entrepreneur and philanthropist Tony Robbins discusses implementing the Department of Labor's "Fiduciary Rule" and why investors shouldn't rely on it anyway. Read more: Tony Robbins on the Fiduciary Rule - Video | Investopedia http://www.investopedia.com/video/play/tony-robbins-fiduciary-rule/
Prof. William L. Megginson (University of Oklahoma) presenting his paper at the ECGI Asia conference in Tokyo, Japan. To access the slides for this presentation, click here: http://www.ecgievents.org/#!ecgi-asia-dialogue/n1gg6
In this video, fiduciary funds are discussed.
How should investments in an occupational pension scheme be run? Should trustees oversee the decisions of fund managers, or should trustees delegate to a fiduciary manager who is entrusted to make decisions about markets on a daily or weekly basis. Kerrin Rosenberg, chief executive of Cardano UK argues for fiduciary management, Richard Graham head of UK institutional business at Baring Asset Management argues against.
On December 2013, the Canadian Securities Administrators (CSA) issued two status reports regarding consultations on mutual fund commissions and statutory fiduciary duty. While Advocis is encouraged by the CSA's decision to further investigate the merits of these reforms, threats of a commissions ban and statutory fiduciary duty still loom. Please view this important video message from Advocis President and CEO Greg Pollock.
An interview with John C. Bogle, the founder and former CEO of The Vanguard Group. In this interview John discusses actively managed funds and index, arguing why index are superior. John also covers what the non professional should do with his money to get the best investment. Like if you enjoyed Subscribe for more:http://bit.ly/InvestorsArchive Follow us on twitter:http://bit.ly/TwitterIA Video Segments: 0:00 Introduction 0:24 What was Vanguard like in 1974? 4:23 Are there people trying to confuse others? 5:26 Diminishment of long term investing 6:36 Anything good about trading? 7:09 What motivating high turnover in portfolio? 8:23 Any active managers doing the right thing? 10:53 How does a index fund work? 12:25 Is weighting by capitalisation a bad idea? 15:14 How many funds...
The DOL Fiduciary Rule is helpful but falls well short of eliminating conflicts of interest and protecting investors. Top annuity lies: http://investingadvicewatchdog.com/annuity-lies.html Robo-Advisor https://www.blackrock.com/wte/core-builder/us?refType=fi Robo-Advisor https://personal.vanguard.com/us/funds/tools/recommendation?reset=true This video is not intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy, hold or sell, or as an endorsement, of any company, security, fund, product or other offering. Always hire and consult with a fee-only fiduciary professional. In other words you are responsible for your own actions -- Not me.
CPAR Gov/NFP Vol 2017 No.1 Segment 1 Warren Ruppel on GASB 84 and Reporting a Fiduciary Activity As the Governmental Accounting Standards Board unveils the first phase of its project designed to improve the financial reporting model, it is time to appraise what steps the standard setter should take to improve the existing format and content of financial statements. In our opening segment, Warren Ruppel - a partner in the firm of Marks Paneth LLP as well as the author of "Wiley's GAAP or Governments" - evaluates GASB's current agenda and its recent guidance, including going concern disclosures to fiduciary activities. Learn more about this course at https://ecampus.smartpros.com/modules/Catalog/CourseDetails.aspx?CourseGroupID=2491&productgroupid=19375
http://www.painlessfinancialtraininggroup.ca/ Directors are being sued, in the USA, for paying too much for too little investment advice when investing their organizations funds. Granted, this is the US where lawsuits are far more common, but what happens in the US does have an impact on Canada. The crux of the latest issue comes back to passive investing. If your group can get the market rate of return with an index fund then your advisors better be able to show that the fees you pay directly lead to making more money. If not, then the stakeholders have a point about the directors not satisfying their fiduciary duty. A wise director does not overpay when they are responsible for other people’s money. So take a look at how you are paying for advice and be sure that you could justify the...