The quality or state of being prudent; wisdom in the way of caution and provision; discretion; carefulness; hence, also, economy; frugality.
the ability to govern and discipline oneself by the use of reason; skill and good judgement in the management of affairs or the use of resources; caution or circumspection as to danger or risk
Wise judgment about the practical tasks of politics, respectful both of sound values and the limitations and opportunities of social reality.
discretion in practical affairs
knowing how to avoid embarrassment or distress; "the servants showed great tact and discretion"
The inclusion of a degree of caution in the exercise of the judgements needed in making the estimates required under conditions of uncertainty, such that assets or income are not overstated and liabilities or expenses are not understated.
An ethical excellence of heart and mind, displayed in an eagerness to seek and an ability to find the “just right” course of action, attaining the best outcome possible in the light of present circumstances. It is sometimes also known as practical wisdom.
Ability to discern the most suitable, politic, or profitable course of action, esp. as regards conduct; practical wisdom, discretion. Wisdom; knowledge of or skill in a matter. Foresight; providence. Note that in the course of California Probate Court action, "prudence" as affecting the administration of trusts has come to describe certain specific standards of care. (Instrument, Article V, Sections 3 and 4)
One of the fundamental accounting concepts. Accounts must be prepared on a prudent basis. Revenue must never be shown in the accounts until the cash realisation of the revenue is reasonably certain. On the other hand, costs arising as a result of past actions should be provided for immediately, even if the cash will not be paid over until the future.
Classically, prudence is considered to be a virtue, and indeed, one of the Cardinal Virtues. The word comes from Old French prudence (13th century), from Latin prudentia "foresight, sagacity," contraction of providentia "foresight". It is often associated with Wisdom, Insight, and Knowledge.