Enterprise Group
Because the one owner is personally answerable for money owed and obligations incurred in reference to the enterprise, no special rules are wanted to protect its creditors past the odd provisions of chapter legislation. Accounting is the measurement, processing, and communication of economic information about economic entities similar to businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of enterprise", measures the results of an organization's economic activities and conveys this info to quite a lot of users, including traders, creditors, management, and regulators. The phrases "accounting" and "monetary reporting" are often used as synonyms. Generally, a smaller business is more versatile, while bigger businesses, or those with wider ownership or extra formal constructions, will normally tend to be organized as corporations or partnership