GAAP for Governments Texas refers to the application of Generally Accepted Accounting Principles (GAAP) in governmental accounting and financial reporting within the state of Texas. These principles, established by the Governmental Accounting Standards Board (GASB), provide a standardized framework for preparing and presenting financial statements for governmental entities, such as state and local governments, school districts, and public utilities. Adherence to GAAP ensures transparency, consistency, and accountability in public sector financial management. |