prudence // noun [U]

1 (Accounting ) (especially BrE) (AmE usually conservatism)

the principle that a company's financial records must not make the company seem more valuable than it might be:

In accordance with the prudence concept, income is included only when it is reasonably certain.

2

care in making judgements and decisions; the practice of avoiding unnecessary risks:

We should have exercised more financial prudence.

• expatriate
• expectancy theory
• expedite
• expendable
• expendable income
• expenditure
• expenditure tax
• expense
• expense account
• expense ratio
• expenses claim
• expensive
• experience
• experience curve
• experienced
• experience economy
• expert
• expertise
• expert system
• expiration
• expire
• expiry
• expiry date
• explicit knowledge
• exploit