conservatism


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Conservatism

The philosophy that what has been done should continue to be done as long as there is not a positive reason to change it. Conservatives may favor class distinctions as natural, or at least not harmful. In modern times, conservatism has become associated with the political right, or the belief that capitalism and the free market tend to best determine how an economy ought to be organized.

conservatism

or

prudence

see ACCOUNTING CONCEPTS.
References in periodicals archive ?
American conservatism, Will announces, has almost nothing to do with European conservatism, "which is descended from, and often is still tainted by, throne-and-altar, blood-and-soil nostalgia, irrationality and tribalism."
American conservatism, Will announces, has almost nothing to do with European conservatism, "which is descended from, and often is still tainted by, throne-and-altar, blood-and-soil nostalgia, irrationality and tribalism." He paraphrases Margaret Thatcher in observing that "European nations were made by history, the United States was made by philosophy."
As well as through the use of conservatism as a tool for reducing asymmetry, Silva (2015) observed that when a company reaches a high level of firm complexity, from an industrial, business, and organizational viewpoint, information asymmetry experiences a fall due to an improvement in the quality of the accounting information.
* Conservatism is a commitment to individual liberty, tempered by the conviction that genuine freedom entails more than simply an absence of restraint
His newest book, Conservatism: An Invitation to the Great Tradition, is more dialectical, prone to emphasize certain affinities between conservatism and the liberalism it aims to moderate and correct.
The stature of governance in a firm determines the demand for conservatism. More effective the stature of governance leads to a greater demand for conservatism.
The study outlines the overview of accounting conservatism and the hypothesis development in Section 2.
In 2013, Republicans' economic conservatism softened a bit, while Democrats' economic liberalism grew further.
In Brazil, the change related to conservatism pronounced by the CPC may have influence on the companies' practices and, consequently, possible effects on asset and liability items, mainly in equity from the impact on profits.
It is ironic that the best book on American conservatism has been written by a Polish mathematician who spent several years teaching at American universities and returned to Poland to head one of the Institutes of the Polish Academy of Sciences.
The author argues that the conservatism that exists today does not resemble the traditional conservatism (which began in the late 19th century) of Edmund Burke, John Adams, Henry Adams, Richard Weaver, Russell Kirk, and other political thinkers, and is instead rooted in capitalism and materialism.