Governmental Accounting refers to the specialized accounting practices used by government entities to manage public funds. It ensures transparency and accountability in the financial reporting of government operations, including revenues, expenditures, and assets. This type of accounting follows specific standards, such as those set by the Governmental Accounting Standards Board (GASB), to provide a clear picture of a government's financial health. The primary goal of governmental accounting is to provide useful financial information to stakeholders, including taxpayers, policymakers, and oversight agencies. By adhering to standardized practices, governments can effectively track their financial activities, make informed decisions, and maintain public trust in their fiscal management.