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Accounting is the measurement, processing and communication of economic information about financial entities 15 16 resembling companies and companies The trendy field was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been referred to as the “language of business”, 18 measures the outcomes of an organization’s financial actions and conveys this information to a wide range of customers, together with investors , creditors , administration , and regulators 19 Practitioners of accounting are referred to as accountants The terms “accounting” and “monetary reporting” are often used as synonyms.
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