Generally Accepted Accounting Principles (United States) - Basic Concepts

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:

    I fly in dreams, I know it is my privilege, I do not recall a single situation in dreams when I was unable to fly. To execute every sort of curve and angle with a light impulse, a flying mathematics—that is so distinct a happiness that it has permanently suffused my basic sense of happiness.
    Friedrich Nietzsche (1844–1900)

    When you have broken the reality into concepts you never can reconstruct it in its wholeness.
    William James (1842–1910)