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Individual AMP executives are getting ready for the opportunity of facing criminal costs over the billion-dollar ‘fees for no service’ scandal, the corporate’s lawyer mentioned this morning. Accounting is the measurement, processing and communication of financial details about economic entities 15 16 similar to companies and firms The trendy field was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been known as the “language of business”, 18 measures the outcomes of a company’s financial actions and conveys this info to a variety of users, including investors , collectors , management , and regulators 19 Practitioners of accounting are known as accountants The phrases “accounting” and “financial reporting” are often used as synonyms.
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