conservatism principle

basic rule of accounting that determines that uncertain losses will be considered losses but uncertain profits will not be considered as profits until doubt is removed

English contemporary dictionary. 2014.

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  • conservatism — con‧ser‧va‧tis‧m [kənˈsɜːvətɪzm ǁ ɜːr ] noun [uncountable] 1. ECONOMICS unwillingness to take unnecessary risks: • The company s conservatism extends as well to capital spending. 2. ACCOUNTING the principle of being careful not to state an asset …   Financial and business terms

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  • conservatism — A prudent and not overoptimistic view of the state of affairs of a company or other organization. Because it is regarded as imprudent to distribute to shareholders profits that may not materialize, it is a general principle of accounting not to… …   Big dictionary of business and management

  • Phenomenal conservatism — In epistemology, phenomenal conservatism (PC) holds that it is reasonable to assume that things are as they appear, unless there are positive grounds for doubting this. (The term derives from the Greek word phainomenon , meaning appearance .)The… …   Wikipedia

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