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Accounting is the measurement, processing and communication of financial details about financial entities 15 sixteen akin to businesses and corporations The modern discipline was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of business”, 18 measures the results of a company’s economic 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 “financial reporting” are sometimes used as synonyms.

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