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Accounting is the measurement, processing and communication of economic information about financial entities 15 sixteen equivalent to companies and corporations The trendy area was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been referred to as the “language of enterprise”, 18 measures the outcomes of an organization’s financial activities and conveys this data to a wide range of customers, together with buyers , collectors , administration , and regulators 19 Practitioners of accounting are known as accountants The phrases “accounting” and “monetary reporting” are often used as synonyms.

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