An accounting concept where expenses and liabilities are recognized as soon as possible, but revenues are only when realized and assured.
Related information about prudence concept:
- What is prudence concept? - BusinessDictionary.com
Definition of prudence concept: An accounting principle that requires recording expenses and liabilities as soon as possible, but the revenues only when they ...
- What is the prudence concept in accounting? - Questions & Answers ...
Mar 13, 2011 ... Under the prudence concept, you should not overestimate the amount of revenues that you record, nor underestimate the expenses.
- The prudence concept in financial accounting
Jun 2, 2011 ... Prudence is one of the fundamental principles of accounting. It suggests that assets or revenue should not be overstated. On the flip side, ...
- What is prudence concept
From the Webster's Online Dictionary: The prudence concept states that profits and inventory should never be over stated an losses must not be under stated ...
- What Is The Prudence Concept In Accounting?
The prudence concept in accounting states that a company should never overstate it's income, and it should never understate it's expenses. This means that the ...
- Prudence Concept - Definition of Prudence Concept - QFINANCE
Definition of prudence concept from QFinance - The Ultimate Financial Resource. What is prudence concept? Definitions and meanings of prudence concept.
- What is prudence concept? - InvestorWords.com
Definition of prudence concept: An accounting concept where expenses and liabilities are recognized as soon as possible, but revenues are only when realized ...
- Accounting principles: The prudence concept - by D. Victor - Helium
Dec 28, 2009 ... The prudence concept in accounting governs the recording and reporting of financial transactions, such that the assets or income are not ...