Accounting for the Cost of Compensated Personal Absences â FAR reference 31.205-6 â CAS 412. Composition and Measurement of Pension Cost â FAR reference 31.205-12 â CAS 413. Adjustment and Allocation of Pension Cost â FAR reference 31.205-12 â CAS 415. Accounting for the Cost of Deferred Compensation â FAR reference 31.205-6
A fiduciary duty is the obligation to act in the best interests of another party in financial matters. The members of a company board, for example, should act in the interests of the shareholders, whom they represent. The manager of a family trust has the obligation to work in the best interests of the family, who as clients are trusting him to carry out needed transactions and legal obligations.
Fiduciary. A fiduciary is an individual or organization legally responsible for managing assets on behalf of someone else, usually called the beneficiary. The assets must be managed in the best interests of the beneficiary, not for the personal gain of the fiduciary.