Accounts - What is fiduciary accounting, What is meant by fiduciary accounting

What is fiduciary accounting

Fiduciary Accounting The task of fiduciary accounting is normally handed over to a trustee or an administrator in a non profit organization or a specific community. This accounting is likely to be administrated or initiated by the court. A fiduciary accountant performs traditional accounting duties like record maintenance, financial assessment, and even asset management.

National Income Accounting National income accounting is associated with the social and economic factors of a nation, unlike just the financial management in a company. It covers a much broader scope which eventually gives out results such as the purchasing capacity of a country per year. The use of national income accounting also enables a country to find out the market value of goods and services manufactured in the country for a specific time period.

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