19/10/2021
Accounting is the measurement, processing and transmission of financial information about business entities [5] [6], such as businesses and corporations. Modern accounting was created by the Italian mathematician Luca Pacioli in 1494 [7]. Accounting, which has been called the "language of business" [8], measures the economic performance of an organization and communicates this information to various users, including investors, lenders, managers and regulators [9]. Accounting practitioners are called accountants. The terms "accounting" and "financial reporting" are often used interchangeably.