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Accounting is the measurement, processing, and communication of economic details about financial entities 15 sixteen similar to companies and firms The fashionable field was established by the Italian mathematician Luca Pacioli in 1494. 17 Accounting, which has been called the “language of enterprise”, 18 measures the results of a company’s financial actions and conveys this information to a variety of users, including buyers , creditors , management , and regulators 19 Practitioners of accounting are often called accountants The phrases “accounting” and “financial reporting” are often used as synonyms.
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