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Accounting is the measurement, processing, and communication of financial details about financial entities 15 16 such as businesses and corporations The modern discipline was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been referred to as the “language of enterprise”, 18 measures the outcomes of an organization’s financial actions and conveys this info to quite a lot of users, together with traders , collectors , management , and regulators 19 Practitioners of accounting are generally known as accountants The terms “accounting” and “monetary reporting” are often used as synonyms.
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