Government Accounting is a specialized field of accounting that focuses on the financial management of government entities. It involves tracking and reporting the financial activities of federal, state, and local governments to ensure transparency and accountability. This type of accounting adheres to specific standards and regulations, such as those set by the Governmental Accounting Standards Board (GASB). The primary goal of government accounting is to provide accurate financial information that helps in decision-making and resource allocation. It includes budgeting, financial reporting, and auditing processes, which are essential for maintaining public trust and ensuring that taxpayer funds are used effectively.