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Accounting is the measurement, processing and communication of monetary information about economic entities 15 sixteen comparable to businesses and firms The trendy 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 financial actions and conveys this information to a variety of users, together with buyers , collectors , management , and regulators 19 Practitioners of accounting are referred to as accountants The phrases “accounting” and “financial reporting” are often used as synonyms.
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