The Government Finance Officers Association (GFOA) serves government finance professionals throughout the United States and Canada. In 1987, the GFOA's executive board voted to create a Government Accounting Scholarship to recognize outstanding performance in undergraduate accounting studies and to encourage careers in state and local government.

Candidates should have a superior academic record and show promise of completion of their undergraduate program at a high level of performance. In addition, candidates should have plans to pursue a career in state or local government or graduate studies in governmental accounting or public administration. Undergraduate students must be in the process of completing at least their junior year by the time the scholarship is awarded. The competition is for undergraduate and graduate students who are enrolled full-time in a unviersity or college preparing for a career in state and local government finance in the United States or Canada.