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A company could describe its enterprise by communicating the trade through which it operates. For instance, the real estate enterprise , advertising enterprise or mattress manufacturing business are industries during which a business can exist. As a result of the time period enterpriseâ€ may be interchanged with day-to-day operations in addition to the general formation of an organization, the term is usually used to indicate transactions concerning an underlying services or products. For instance, Exxon Mobil transacts business in providing oil.
Accounting is the measurement, processing and communication of monetary details about financial entities 15 16 such as companies and companies The fashionable discipline was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been known as the “language of enterprise”, 18 measures the results of an organization’s economic actions and conveys this info to a variety of users, including investors , collectors , administration , and regulators 19 Practitioners of accounting are known as accountants The terms “accounting” and “financial reporting” are often used as synonyms.