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:

    “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)

    “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)