Financial reporting for state and local governments aims to provide transparency and accountability to the public, stakeholders, and decision-makers. The Governmental Accounting Standards Board (GASB) establishes standards for these entities, ensuring effective financial management and helping stakeholders make informed decisions.

Research the advancements and improvements in financial reporting for state and local governments.

In initial post, share at least two scholarly works you found in your research, summarizing the main insights from the articles and reflecting on how these advancements have influenced the measurement of government performance of the past decade. Do you agree with the findings, and what implications do they have for future financial reporting practices?