A plain-language definition, not a conclusion about a document or case. Read the term in its full legal context.
Plain-English meaning
Trust Accounting
A record of trust assets, receipts, disbursements, distributions, gains, losses, and other administration activity for a stated period.
Why the term matters
Beneficiaries, co-trustees, courts, and tax professionals may rely on the accounting to evaluate administration and fiduciary duties.
Do not confuse it with
A bank statement alone is not a complete trust accounting; classifications, supporting records, and governing requirements may be needed.