All government entities are required to keep precise financial accounting records. As part of the record-keeping process, most government entities adopt the Generally Accepted Accounting Principles.

In physics, the well-known observer effect describes how the act of measurement changes what’s being measured. An electron can’t be detected without interacting with a photon, yet that interaction ...

Although FASB and the IASB worked jointly to improve the accounting for financial instruments and to achieve convergence on a single recognition and measurement model, FASB said it decided to make ...