Business Organizations
In 2003, for example, China modeled 80% of its state-owned enterprises on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets. Accounting is the measurement, processing, and communication of financial information about economic entities such as Business Newses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. The terms “accounting” and “financial reporting” are often used as synonyms.
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