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Under the leadership of Park Chung Hee, South Korea
Accounting Principles
Accounting Principles are the rules and guidelines that companies must follow when reporting financial data, ensuring consistency, reliability, and comparability of financial statements.
GASB
The Governmental Accounting Standards Board, an organization that establishes accounting and financial reporting standards for U.S. state and local governments.
Financial Statements
Records that outline the financial activities and condition of a business, person, or other entity.
Proprietary Fund
A type of fund used in governmental accounting that is used to account for activities similar to those found in the private sector, where the payment of fees by external users for goods or services provided by the fund is the principal source of revenue.
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