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Accounting is the measurement, processing and communication of monetary information about financial entities 15 16 equivalent to companies and firms The trendy field was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of enterprise”, 18 measures the results of an organization’s economic activities and conveys this info to quite a lot of customers, including buyers , creditors , management , and regulators 19 Practitioners of accounting are known as accountants The terms “accounting” and “financial reporting” are sometimes used as synonyms.
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