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:
“Good shot, bad luck and hell are the five basic words to be used in a game of tennis, though these, of course, can be slightly amplified.”
—Virginia Graham (b. 1912)
“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 Our idea of what adults are and what we’re supposed to be is composed of outdated childhood concepts brought forward.”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)