Whether you're preparing a formal court accounting or advising a trustee on the murky line between principal and income, fiduciary accounting demands precision—and getting it wrong can mean personal liability. This session cuts through the complexity, walking practitioners through the fundamentals of trust and estate accounting: allocating receipts and disbursements under the governing principal and income rules, distinguishing principal from income, preparing accountings that satisfy courts and beneficiaries alike, and spotting the pitfalls that lead to surcharge. Attendees will leave with practical tools to keep their fiduciary clients compliant, their accountings defensible, and their beneficiaries confident that every dollar is accounted for.