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