Basic Concepts
To achieve basic objectives and implement fundamental qualities GAAP has four basic assumptions, four basic principles, and four basic constraints.
Read more about this topic: Generally Accepted Accounting Principles (United States)
Famous quotes containing the words basic and/or concepts:
“Southerners, whose ancestors a hundred years ago knew the horrors of a homeland devastated by war, are particularly determined that war shall never come to us again. All Americans understand the basic lessons of history: that we need to be resolute and able to protect ourselves, to prevent threats and domination by others.”
—Jimmy Carter (James Earl Carter, Jr.)
“Once one is caught up into the material world not one person in ten thousand finds the time to form literary taste, to examine the validity of philosophic concepts for himself, or to form what, for lack of a better phrase, I might call the wise and tragic sense of life.”
—F. Scott Fitzgerald (1896–1940)