November 29, 2021

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Accounting is the measurement, processing, and communication of monetary information about economic entities 15 sixteen resembling businesses and corporations The modern subject 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 a corporation’s economic activities and conveys this data to quite a lot of users, including traders , 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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