Debate: On the role of prudence in public sector accounting Ellen Haustein
Uploaded by Ellen Haustein     Uploaded date: October 22, 2019    
Publication date
May 22, 2019
Paper language
Prudence is one of the most important and most contentious accrual accounting principles as it means biasing accounting information on assets/revenues and liabilities/expenses asymmetrically. However, in internationally accepted accounting regimes the purpose of the prudence principle is defined to prevent overstating income and assets and understating revenues and liabilities. These two antagonistic interpretations of the prudence principle are discussed in this article.
Preferred Citation
Lorson, P./Haustein, E. (2019) Debate: On the role of prudence in public sector accounting. Public Money & Management, Vol. 39, Issue 6, pp. 389–390
accounting principles; financial accounting; accountability; EPSAS, prudence,
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  • Financial accounting
  • International Accounting / Accounting Harmonization
Type of Paper
Published paper

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