Meaning Of Prudence
The servants showed great tact and discretion circumspection discreetness discretion sagaciousness sagacity discernment judgement judgment the mental ability to understand and discriminate between relations.
Meaning of prudence. Prudentia contracted from providentia meaning seeing ahead sagacity is the ability to govern and discipline oneself by the use of reason. Caution or circumspection as to danger or risk a person of ordinary prudence. Careful and avoiding risks.
Prudence definition the quality or fact of being prudent or wise in practical affairs as by providing for the future. Behaviour that is careful and avoids risks. Legal definition of prudence.
The spiritual meaning of prudence in the bible is similar. It represents acting from ideas that we know to be true but doing so with an underlying desire for good. As the catholic encyclopedia notes aristotle defined prudence as recta ratio agibilium right reason applied to practice the emphasis on right is important.
We cannot simply make a decision and then describe it as a prudential judgment prudence requires us to distinguish between what is right and what is wrong. It is classically considered to be a virtue and in particular one of the four cardinal virtues which are with the three theological virtues part of the seven virtues. Prudence knowing how to avoid embarrassment or distress.
So it is action driven by truth but with good as its end. The concept advises that the final accounts of a company must always show caution while reporting any figures specifically impacting the income and expenses. Attentiveness to possible hazard.
Prudence concept is a very fundamental concept of accounting that increases the trustworthiness of the figures that are reported in the financial statements of a business.
