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:
“For a novelist, a given historic situation is an anthropologic laboratory in which he explores his basic question: What is human existence?”
—Milan Kundera (b. 1929)
“When you have broken the reality into concepts you never can reconstruct it in its wholeness.”
—William James (1842–1910)