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:
“We can’t nourish our children if we don’t nourish ourselves.... Parents who manage to stay married, sane, and connected to each other share one basic characteristic: The ability to protect even small amounts of time together no matter what else is going on in their lives.”
—Ron Taffel (20th century)
“Once one is caught up into the material world not one person in ten thousand finds the time to form literary taste, to examine the validity of philosophic concepts for himself, or to form what, for lack of a better phrase, I might call the wise and tragic sense of life.”
—F. Scott Fitzgerald (1896–1940)