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.




What is the dictionary definition of Prudence?

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Full Definition of Prudence



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Cite Term


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https://payrollheaven.com/define/prudence/
Modern Language Association (MLA):
Prudence. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 22, 2019 https://payrollheaven.com/define/prudence/.
Chicago Manual of Style (CMS):
Prudence. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/prudence/ (accessed: November 22, 2019).
American Psychological Association (APA):
Prudence. PayrollHeaven.com. Retrieved November 22, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/prudence/

Definition Sources


Definitions for Prudence are sourced/syndicated from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

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