Editing Business (section)

=== Accounting ===
{{Main|Accounting}}
Accounting is the measurement, processing, and communication of financial information about [[economic entity|economic entities]]<ref name = "NP 2013">{{cite book |last1=Needles |first1=Belverd E. |last2=Powers |first2=Marian |year=2013 |title=Principles of Financial Accounting |publisher=Cengage Learning |edition=12 |series=Financial Accounting Series}}</ref><ref>{{Cite report |date=November 1940 |title=Accounting Research Bulletins No. 7 Reports of Committee on Terminology |url=http://clio.lib.olemiss.edu/cdm/ref/collection/deloitte/id/9342 |publisher=Committee on Accounting Procedure, American Institute of Accountants |access-date=31 December 2013 |archive-date=7 January 2014 |archive-url=https://web.archive.org/web/20140107100208/http://clio.lib.olemiss.edu/cdm/ref/collection/deloitte/id/9342 |url-status=dead }}</ref> such as businesses and [[corporation]]s. The modern field was established by the [[Italians|Italian]] mathematician [[Luca Pacioli]] in 1494.<ref name=jkdiwan>{{cite book|last=Diwan|first=Jaswith|title=Accounting Concepts & Theories |publisher=Morre |location=London|id=id# 94452|pages=001–002}}</ref> Accounting, which has been called the "language of business",<ref name="wharton-language">{{Citation | url =http://kwhs.wharton.upenn.edu/2013/09/peggy-bishop-lane-on-why-accounting-is-the-language-of-business/ | title =Peggy Bishop Lane on Why Accounting Is the Language of Business | publisher =Knowledge @ Wharton High School | date =September 23, 2013 | access-date =25 December 2013 | archive-date =13 June 2018 | archive-url =https://web.archive.org/web/20180613183847/http://kwhs.wharton.upenn.edu/2013/09/peggy-bishop-lane-on-why-accounting-is-the-language-of-business/ | url-status =live }}</ref> measures the results of an organization's economic activities and conveys this information to a variety of users, including [[investor]]s, [[creditor]]s, [[management]], and [[Regulatory agency|regulators]].<ref name = "UW Dept">{{cite web |url=http://www.foster.washington.edu/academic/departments/accounting/Pages/accounting.aspx |title=Department of Accounting |year=2013 |website=Foster School of Business |access-date=31 December 2013 |archive-date=19 March 2015 |archive-url=https://web.archive.org/web/20150319223850/http://www.foster.washington.edu/academic/departments/accounting/Pages/accounting.aspx |url-status=live }}</ref> Practitioners of accounting are known as [[accountant]]s. The terms "accounting" and "financial reporting" are often used as synonyms.