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Accounting is the measurement, processing and communication of monetary details about economic entities 15 16 such as businesses and corporations The fashionable subject 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 a corporation’s financial activities and conveys this info to quite a lot of customers, together with investors , creditors , administration , and regulators 19 Practitioners of accounting are often called accountants The terms “accounting” and “monetary reporting” are often used as synonyms.

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