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Accounting is the measurement, processing and communication of monetary details about financial entities 15 sixteen corresponding to businesses and companies The trendy field was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been referred to as the “language of business”, 18 measures the results of an organization’s economic actions and conveys this info to a wide range of customers, together with investors , collectors , administration , and regulators 19 Practitioners of accounting are referred to as accountants The terms “accounting” and “financial reporting” are sometimes used as synonyms.
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