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:
“The basic thing nobody asks is why do people take drugs of any sort?... Why do we have these accessories to normal living to live? I mean, is there something wrong with society that’s making us so pressurized, that we cannot live without guarding ourselves against it?”
—John Lennon (1940–1980)
“When you have broken the reality into concepts you never can reconstruct it in its wholeness.”
—William James (1842–1910)