Amarin Corp Plc (AMRN)

[NickHous]

Mr."JT Prudence" will never come out and play with revenue or net income projections. He just won't. He's not trained/educated that way. He'll remain in his conservative bungalow all day long meditating.

Link if interested:

https://www.wallstreetmojo.com/conservatism-principle/

Info italicized below perhaps shining a little light on our "Accountant-CEO":


When interested users or investors are going through the company’s financial statements they must get an assurance that the profit of the business coming in is not overestimated. If it is overestimated it will be misleading for the company stakeholders. When conservatism principle of accounting is followed then people like tax prep pro or a potential business investor or partner gets a more clear and realistic picture of the company’s financial standing and the future trajectory of the company.


Why is the Conservative Principle of Accounting called “Concept of Prudence”
The concept of conservatism is also known as the concept of prudence.

It is always stated that “anticipate no profit, provide for all losses.” This implies that an accountant must always be cautious and record the lowest possible value for assets and revenues and highest values for liabilities and expenses. As per this concept revenues or profits should only be recorded whey are realised with reasonable certainty.
Provisions must also be made for all liabilities, expenses, and losses- certain or uncertain in nature. Probable losses in respect of all contingencies should also be recorded. So we can safely say that the concept of conservatism helps a business entity to stay safe in the coming days.
In other words, the prudence which means to act with or to show care for the future can be synonymous with the conservatism principle of accounting. That’s why we can say that the Concept of Conservatism is also known as the Concept of Prudence.