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 research on gender and morality shows that women and men looked at the world through very different moral frameworks. Men tend to think in terms of “justice” or absolute “right and wrong,” while women define morality through the filter of how relationships will be affected. Given these basic differences, why would men and women suddenly agree about disciplining children?”
—Ron Taffel (20th century)
“During our twenties...we act toward the new adulthood the way sociologists tell us new waves of immigrants acted on becoming Americans: we adopt the host culture’s values in an exaggerated and rigid fashion until we can rethink them and make them our own. Our idea of what adults are and what we’re supposed to be is composed of outdated childhood concepts brought forward.”
—Roger Gould (20th century)