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:
“Of course I lie to people. But I lie altruistically—for our mutual good. The lie is the basic building block of good manners. That may seem mildly shocking to a moralist—but then what isn’t?”
—Quentin Crisp (b. 1908)
“Institutional psychiatry is a continuation of the Inquisition. All that has really changed is the vocabulary and the social style. The vocabulary conforms to the intellectual expectations of our age: it is a pseudo-medical jargon that parodies the concepts of science. The social style conforms to the political expectations of our age: it is a pseudo-liberal social movement that parodies the ideals of freedom and rationality.”
—Thomas Szasz (b. 1920)