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Accounting is the measurement, processing, and communication of monetary information about economic entities 15 sixteen similar to businesses 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 business”, 18 measures the outcomes of a company’s financial activities and conveys this information to quite a lot of users, including traders , collectors , administration , and regulators 19 Practitioners of accounting are known as accountants The terms “accounting” and “financial reporting” are often used as synonyms.
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