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Understanding Governmental GAAP: A Guide for South Florida Municipalities

Governmental GAAP ensures transparent financial reporting for South Florida municipalities. It addresses citizens, creditors, and officials, using a h...

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Understanding Governmental Accounting: Key Differences and Implications for South Florida Municipalities

Governmental accounting is different, focusing on stewardship, liquidity, and legal budgets rather than profit. Specialized expertise required due to...

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The Backbone of Municipal Finance: Understanding Accounting, Reporting, and Audits

Managing public finances relies on accurate accounting and reporting. Management uses these tools for budgeting and transparency, ensuring resilience...

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Reevaluating Capitalization Thresholds: A Methodical Approach to Managing Government Capital Assets

Governments face rising capital asset additions, straining resources. Raising capitalization thresholds and using software can simplify tracking, cut...

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MAXIMIZING TAX INCENTIVES FOR ELECTRIC VEHICLES

Individuals can get up to $7,500 for new qualified plug-in EV or fuel cell vehicle between 2023 and 2032. $4,000 is available for used EVs purchased o...

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Why Should Small Businesses Consider Outsourcing Their Accounting Function

Outsourcing the accounting function is one way small businesses can better focus on core business. If you have any questions or if you are looking for...

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Symptoms of Sickness in a Small Company

Here are six symptoms of sickness in a Small Company:

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Reducing the Impact of Required Minimum Distributions

If you have a traditional (non-Roth) IRA or employer-sponsored retirement plan (such as a 401k), you’re probably aware that you must take required min...

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GASBS 103, Financial Reporting Model Improvements

Exciting changes are coming to governmental financial reporting with GASB's new Statement No. 103! Ready to dive into these improvements for better tr...

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Why Should Small Municipalities Outsource Their Accounting Function?

Outsourcing the accounting function can help small municipalities focus on their primary responsibilities, such as public safety, education, and infra...

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To 1031 Exchange or not 1031 Exchange, that is the question

One method that can be used when considering a sale of a commercial property is a 1031 exchange. If a 1031 exchange is used, much more cash would be a...

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New disclosure requirements for certain Capital Assets

GASB 104 provides governments with uniform guidance for presentation and disclosure of leased assets, intangible right-of-use assets, SBITAs, and asse...

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GASB STATEMENT NO. 96 SUBSCRIPTION-BASED INFORMATION TECHNOLOGY ARRANGEMENTS

GASB 96 provides governments with uniform guidance for accounting and financial reporting for SBITAs. If you need assistance CFLG is here to help. Con...

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Cost Segregation Study Can Boost Your Cash Flow

For businesses or investors that acquire, construct, or substantially improve depreciable real estate, cost segregation studies can provide significan...

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How to Minimize Investment Taxes

As an investor, your first priorities should be 1) to develop an asset allocation strategy that aligns with your investment objectives and risk profil...

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