Statistics are utilized by all industries and businesses as a standardized unit of measurement for presenting data in a helpful and significant format. 14 Accounting, which has been known as the “language of business”, 15 measures the outcomes of a company’s economic actions and conveys this data to quite a lot of customers, together with buyers , collectors , management , and regulators sixteen Practitioners of accounting are known as accountants The terms “accounting” and “financial reporting” are often used as synonyms.
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