Trust accounting definition

Trust accounting means one or more written
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Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements, including the amount of the trustee's compensation; (B) the value of the trust assets on hand at the close of the accounting period, to the extent feasible; and (C) all other material facts related to the trustee's administration of the trust.
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Trust accounting means an accounting that adequately discloses the in- formation required by and that substantially complies with the standards set forth in s. 736.08135.
Sample 1

Examples of Trust accounting in a sentence

  • The TFM is responsible for the central financial processes in the Vine Trust, the accuracy of information in the Trust accounting system and for co-ordinating statutory returns, internal and external audit.

  • All assets contained in the Trust accounting will be shown at their fair market value as of the end of the Plan Year or as of the date of resignation or removal.

  • The Trustee shall establish and maintain, as to each REMIC Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.

  • The Trustee shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.

  • Xxxxxx Xxx shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully prepaid Mortgage Loans and Liquidated Mortgage Loans shall be kept.

  • Xxxxxx Mae shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Assets and distributions to Certificateholders shall be recorded and in which a record of fully prepaid Mortgage Loans and Liquidated Mortgage Loans shall be kept.

  • The Audit Committee shall provide assistance to the Board of Trustees in fulfilling its responsibility to the shareholders relating to Trust accounting, reporting practices of the Trust, and the quality and integrity of the financial reports of the Trust.

  • Assist in developing, reviewing, maintaining, and monitoring the effectiveness of Trust accounting and compliance policies and procedures, including portfolio valuation procedures, expense allocation procedures, and personal trading procedures, and the Trust's Code of Ethics.

  • Trust accounting On July 1, 2018, the Act will add new rules about trust accounting practices.

  • TFAS performs the following major functions: • Provides standardized “commercial level” Trust accounting • Generates distribution checks for individual Indians and Tribes • Produces periodic statements and transaction reports for the individual Indian accounts and Tribal accounts • Interfaces with other organizations’, both internal (e.g. BIA, Treasury) and external (Bankers Trust) systems to exchange appropriate information (i.e. ownership, funds, Explanation of Payment [EOP]).


More Definitions of Trust accounting

Trust accounting means an accounting that adequately discloses the information required by and that substantially complies with the stand- ards set forth in s. 736.08135.
Sample 1
Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements (including the amount of the trustee's compensation), and (B) all other material facts related to the trustee’s administration of the trust. The trust accounting shall identify and value trust assets on hand at the close of the accounting period, to the extent feasible. For each asset or class of assets for which there is no readily available market value, the trustee, in the trustee’s discretion, may determine whether to estimate the value or use a nominal carrying value for such an asset, how to estimate the value of such an asset, and whether and how often to engage a professional appraiser to value such an asset.
Sample 1

Related to Trust accounting

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Acquisition Fund means any company formed with the intent to offer securities to the public and use the proceeds to consummate one or more Business Combinations which are unspecified at the time of the securities offering.

  • Trust Fund The trust fund established by the Trust Agreement, the assets of which consist of the Mortgage Loans and any other assets as set forth therein. Trustee: U.S. Bank National Association, or any successor in interest, or if any successor trustee or co-trustee shall be appointed as provided in the Trust Agreement, then such successor trustee or such co-trustee, as the case may be.