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:
“It is easier to move rivers and mountains than to change a person’s basic nature.”
—Chinese proverb.
“When you have broken the reality into concepts you never can reconstruct it in its wholeness.”
—William James (1842–1910)