Define: Prudence

UK Accounting Glossary

Definition: Prudence


Quick Summary of Prudence


A degree of caution in the exercise of the judgements needed in making the estimates required under conditions of uncertainty, such that gains and assets are not overstated and losses and liabilities are not understated.



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https://payrollheaven.com/define/prudence/
Modern Language Association (MLA):
Prudence. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 21, 2019 https://payrollheaven.com/define/prudence/.
Chicago Manual of Style (CMS):
Prudence. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/prudence/ (accessed: July 21, 2019).
American Psychological Association (APA):
Prudence. PayrollHeaven.com. Retrieved July 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/prudence/

Definition Sources


Definitions for Prudence are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd December 2018.