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Accounting is the measurement, processing and communication of economic information about economic entities 15 sixteen similar to businesses and firms The trendy subject was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been known as the “language of business”, 18 measures the results of a corporation’s financial actions and conveys this info to quite a lot of users, including investors , collectors , management , 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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