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:

    The basic thing nobody asks is why do people take drugs of any sort?... Why do we have these accessories to normal living to live? I mean, is there something wrong with society that’s making us so pressurized, that we cannot live without guarding ourselves against it?
    John Lennon (1940–1980)

    Science is a dynamic undertaking directed to lowering the degree of the empiricism involved in solving problems; or, if you prefer, science is a process of fabricating a web of interconnected concepts and conceptual schemes arising from experiments and observations and fruitful of further experiments and observations.
    James Conant (1893–1978)