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The Principle of Prudence and the Constituency of Provisions

Author

Listed:
  • Saveta Tudorache

    (University Nicolae Titulescu)

  • Anca Bratu

    (Faculty of Bussines and Administration - University of Bucharest)

  • Mariana Gurau

    (University Nicolae Titulescu)

Abstract

Provisions are constituted for the purpose of complying with the principle of prudence These are comprised into annual expenses until they are used. Their destination is to cover the expenses that prior or actual events make them possible. Indirectly, the provisions represent the equivalent of probable debts generating loss or expense.

Suggested Citation

  • Saveta Tudorache & Anca Bratu & Mariana Gurau, 2008. "The Principle of Prudence and the Constituency of Provisions," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 8(1), pages 77-84, December.
    • Handle: RePEc:but:manage:v:8:y:2008:i:1:p:77-84
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