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Accounting is the measurement, processing and communication of economic information about economic entities 15 16 reminiscent of businesses and corporations The trendy area was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of business”, 18 measures the results of an organization’s economic activities and conveys this info to quite a lot of customers, together with investors , creditors , management , and regulators 19 Practitioners of accounting are generally known as accountants The phrases “accounting” and “financial reporting” are often used as synonyms.
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