Accounting is the measurement, processing and communication of economic particulars about financial entities 15 sixteen harking back to businesses and corporations The trendy area was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of business”, 18 measures the outcomes of a corporation’s financial actions and conveys this info to quite a lot of customers, including traders , collectors , administration , and regulators 19 Practitioners of accounting are referred to as accountants The phrases “accounting” and “monetary reporting” are sometimes used as synonyms.
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