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The most powerful products for business are those folks already love to make use of. Accounting is the measurement, processing and communication of economic information about economic entities 15 16 such as companies and corporations The modern subject was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been known as the “language of enterprise”, 18 measures the outcomes of an organization’s financial activities and conveys this data to a variety of customers, including buyers , creditors , management , and regulators 19 Practitioners of accounting are generally known as accountants The phrases “accounting” and “financial reporting” are sometimes used as synonyms.

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