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Accounting is the measurement, processing and communication of monetary details about financial entities 15 16 corresponding to companies and companies The fashionable area was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of enterprise”, 18 measures the outcomes of a company’s economic activities and conveys this data to a variety of customers, including investors , creditors , administration , and regulators 19 Practitioners of accounting are often known as accountants The phrases “accounting” and “financial reporting” are often used as synonyms.
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