Contents and mode of stating executors' accounts
Originally published by: New York State Society of Certified Public Accountants
Abstract
The statute does not prescribe any special form to be adopted by an executor or administrator in making up his account. It simply points out the effect of the account when passed; and indeed it would be quite impossible to state any form which would apply to all cases, except in a general way, as no two estates present exactly the same features and details. The accounting has for its object the furnishing of accurate information as to the condition of the estate so that all persons interested therein may have an opportunity to ascertain positively their rights, to correct errors, if any, in the accountant's administration, and take measures, if necessary, to protect themselves against loss by his fraud or negligence. To this end the account should be full and explicit, containing a clear and definite statement of all the executor's or administrator's dealings with the decedent's estate, so that it can be made the subject of intelligent objection.