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:
“There’s one basic rule you should remember about development charts that will save you countless hours of worry.... The fact that a child passes through a particular developmental stage is always more important than the age of that child when he or she does it. In the long run, it really doesn’t matter whether you learn to walk at ten months or fifteen months—as long as you learn how to walk.”
—Lawrence Kutner (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 Our idea of what adults are and what we’re supposed to be is composed of outdated childhood concepts brought forward.”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)