This paper provides an introduction to and a review of governmental capital markets based research. It updates earlier studies and focuses on recent methodological developments. Prior research is classified ac­cording to the type of data used, emphasizing special topics that have received...

Current municipal GAAP is geared toward monitoring the narrow notion of dollar accountability (i.e., compliance with budgeted dollar spending limits). It is argued that even with the limitation of present measurement technology, accountants involvement in municipal financial reports could play a...