74-826: The Second Field Army (第二野战军), initially known as the Central Plains Field Army (中原野战军) or the Liu-Deng Army , was a major military formation of the Chinese Communist Party during the last stages of the Chinese Civil War . The Second Field Army took control of PLA troops in central China, with Liu Bocheng as commander and Deng Xiaoping as commissar. It comprised three armies: the 3rd Army (10th, 11th Corps , and 12th Corps ) 4th Army (13th, 14th, and 15th Corps ), and 5th Army (16th, 17th Corps and 18th Corps), plus
148-417: A company such as a corporation or cooperative . Colloquially, the terms are used interchangeably. Corporations are distinct from with sole proprietors and partnerships . They are separate legal entities and provide limited liability for their owners and members. They are subject to corporate tax rates. They are also more complicated and expensive to set up, but offer more protection and benefits for
222-783: A stock exchange , or in multiple other ways. Major stock exchanges include the Shanghai Stock Exchange , Singapore Exchange , Hong Kong Stock Exchange , New York Stock Exchange and NASDAQ (the US), the London Stock Exchange (UK), the Tokyo Stock Exchange (Japan), and Bombay Stock Exchange (India). Most countries with capital markets have at least one. Businesses that have gone public are subject to regulations concerning their internal governance, such as how executive officers' compensation
296-399: A "process optimization process". It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach. Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law applicable to business. The major factors affecting how a business
370-407: A Combined Joint Task Force (CJTF) would be such a temporary grouping that includes elements of more than one armed service and more than one nation. Business Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services ). It is also "any activity or enterprise entered into for profit." A business entity
444-500: A balanced, combined combat force. The formations only differ in their ability to achieve different scales of application of force to achieve different strategic, operational and tactical goals and mission objectives." It is a composite military organization that includes a mixture of integrated and operationally attached sub-units, and is usually combat-capable. Examples of formations include divisions , brigades , battalions , wings , etc. Formation may also refer to tactical formation ,
518-479: A business. Some businesses are subject to ongoing special regulation, for example, public utilities , investment securities, banking, insurance, broadcasting , aviation , and health care providers. Environmental regulations are also very complex and can affect many businesses. When businesses need to raise money (called capital ), they sometimes offer securities for sale. Capital may be raised through private means, by an initial public offering or IPO on
592-592: A command is a collection of units and formations under the control of a single officer, although during World War II a command was also a name given to a battlegroup in the United States Army . In general, it is an administrative and executive strategic headquarters that is responsible to the national government or the national military headquarters . It is not uncommon for a nation's services to each consist of their own command (such as Land Component, Air Component, Naval Component, and Medical Component in
666-498: 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. Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients . BPM attempts to improve processes continuously. It can, therefore, be described as
740-424: A fraction of personnel in infantry units. In western militaries, a joint force is defined as a unit or formation comprising representation of combat power from two or more branches of the military. Gendarmeries , military police and security forces , including equivalents such as paramilitary forces , militia , internal troops and police tactical unit , are an internal security service common in most of
814-610: A long time, and were devised by various military thinkers throughout European history. For example, the modern Corps was first introduced in France about 1805 by Napoleon as a more flexible tactical grouping of two or more divisions during the Napoleonic Wars . OF 8: Lieutenant General OR-2: private first class Rungs may be skipped in this ladder: for example, typically NATO forces skip from battalion to brigade. Likewise, only large military powers may have organizations at
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#1732773107846888-485: A member of the government's cabinet , usually known as a minister of defence . In presidential systems , such as the United States , the president is the commander-in-chief , and the cabinet-level defense minister is second in command. Subordinated to that position are often secretaries for specific major operational divisions of the armed forces as a whole, such as those that provide general support services to
962-482: A part of military or paramilitary organizations, such as insurgent forces, often emulate military organizations, or use these structures. The use of formalized ranks in a hierarchical structure came into widespread use with the Roman Army . In modern times, executive control, management and administration of military organization is typically undertaken by governments through a government department within
1036-524: A process known as an initial public offering (IPO) means that part of the business will be owned by members of the public. This requires the organization as a distinct entity, to disclose information to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLC's that sell units (sometimes also called shares), and other more exotic entities as well, such as, for example, real estate investment trusts in
1110-564: A range of human activity, from handicraft to high tech , but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale. Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." The term developed from
1184-448: A share capital), this will be the shareholders . In a company limited by guarantee, this will be the guarantors. Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions. Examples include " segregated portfolio companies " and restricted purpose companies. There are, however, many, many sub-categories of types of company that can be formed in various jurisdictions in
1258-471: A special technical column, and totalled 128,000 men. After 1949, the Second Field Army was stationed in southwest China and controlled five provinces - Yunnan , Guizhou , Sichuan , Xikang , and Tibet . The 15th Army ("Corps") was transferred to the Second Field Army in 1950. Military formation Military organization ( AE ) or military organisation ( BE ) is the structuring of
1332-491: A squadron of tanks augmented with infantry, or the combination of a full company of infantry with a full squadron of tanks. During World War II the Red Army used the same basic organizational structure. However, in the beginning many units were greatly underpowered and their size was actually one level below on the ladder that is usually used elsewhere; for example, a division in the early-WWII Red Army would have been about
1406-703: A temporary grouping for a specific operational purpose. Aside from administrative hierarchical forms of organization that have evolved since the early 17th century in Europe, fighting forces have been grouped for specific operational purposes into mission-related organizations such as the German Kampfgruppe or the U.S. Combat Team (Army) and Task Force (Navy) during the Second World War, or the Soviet Operational manoeuvre group during
1480-507: Is a civil law enforcement agency . A number of countries have no navy, for geographical reasons. In larger armed forces, the cultures between the different branches of the armed forces can be quite different. Most smaller countries have a single organization that encompasses all armed forces employed by the country in question. Armies of developing countries tend to consist primarily of infantry , while developed countries armies tend to have larger units manning expensive equipment and only
1554-589: Is a field that deals with the study of money and investments . It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. In the context of business and management , finance deals with the problems of ensuring that the firm can safely and profitably carry out its operational and financial objectives; i.e. that it: (1) has sufficient cash flow for ongoing and upcoming operational expenses, and (2) can service both maturing short-term debt repayments, and scheduled long-term debt payments. Finance also deals with
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#17327731078461628-587: Is an organization of workers who have come together to achieve common goals such as protecting the integrity of its trade, improving safety standards, achieving higher pay and benefits such as health care and retirement, increasing the number of employees an employer assigns to complete the work, and better working conditions . The trade union, through its leadership, bargains with the employer on behalf of union members ( rank and file members) and negotiates labor contracts ( collective bargaining ) with employers. The most common purpose of these associations or unions
1702-593: Is considered its sub-unit or minor unit. It is not uncommon in the United States for unit and formation to be used synonymously. In Commonwealth practice, formation is not used for smaller organizations such as battalions, which are instead called "units", and their constituent platoons or companies are referred to as sub-units. In the Commonwealth, formations are divisions, brigades, etc. Different armed forces , and even different branches of service of
1776-419: Is crucial for all businesses to succeed as it helps companies adjust to a fast-moving business environment and the increasing demand for jobs. The term "Human Resource" was first coined by John R. Commons in his novel ' The Distribution of Wealth'. HR departments are relatively new as they began developing in the late 20th century. HR departments main goal is to maximize employee productivity and protecting
1850-585: Is determined, and when and how information is disclosed to shareholders and to the public. In the United States, these regulations are primarily implemented and enforced by the United States Securities and Exchange Commission (SEC). Other western nations have comparable regulatory bodies. The regulations are implemented and enforced by the China Securities Regulation Commission (CSRC) in China. In Singapore,
1924-450: Is divided into sections (platoons) composed of 3 x "groupes de combat" of 7 soldiers, plus a group of vehicle crews and a HQ that includes 2 x snipers. Army , army group , region , and theatre are all large formations that vary significantly between armed forces in size and hierarchy position. While divisions were the traditional level at which support elements (field artillery, hospital, logistics and maintenance, etc.) were added to
1998-566: Is for those who prefer an administrative role as it involves oversight of the entirety of the company. HRIS involves the storage and organization of employee data including full names, addresses, means of contact, and anything else required by that certain company. Some careers of those involved in the Human Resource field include enrollment specialists, HR analyst, recruiter, employment relations manager, etc. Many businesses have an Information technology (IT) department, which supports
2072-412: Is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and
2146-484: Is organized are usually: Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent and complying with certain other ongoing obligations. The relationships and legal rights of shareholders , limited partners, or members are governed partly by
2220-450: Is primarily based on a number of standard groupings of vessels, including the carrier strike group and the expeditionary strike group . Additionally, naval organization continues aboard a single ship. The complement forms three or four departments (such as tactical and engineering), each of which has a number of divisions, followed by work centers. The organizational structures of air forces vary between nations: some air forces (such as
2294-428: Is the process of exchanging goods and services. It is not just a single activity, but a set of activities that includes trade (buying and selling goods and services) and auxiliary services or aids to trade, that includes communication and marketing, logistics, finance, banking, insurance, and legal services related to trade. Business is also defined as engaging in commerce, as these are done in all businesses. Finance
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2368-590: The Belgian Army ), but this does not preclude the existence of commands that are not service-based. A formation is defined by the U.S. Department of Defense as "two or more aircraft, ships, or units proceeding together under a commander". Fomin in the Great Soviet Encyclopedia emphasised its combined-arms nature: "Formations are those military organisations which are formed from different speciality Arms and Services troop units to create
2442-545: The Royal New Zealand Navy , or those navies that are effectively coast guards , are commanded by a rear-admiral (two-star rank), commodore (one-star rank) or even a captain . Aircraft carriers are typically commanded by a captain. Submarines and destroyers are typically commanded by a captain or commander. Some destroyers, particularly smaller destroyers such as frigates (formerly known as destroyer escorts ) are usually commanded by officers with
2516-665: The United States Air Force and the Royal Air Force ) are divided into commands, groups and squadrons; others (such as the Soviet Air Force ) have an Army-style organizational structure. The modern Royal Canadian Air Force uses Air division as the formation between wings and the entire air command. Like the RAF, Canadian wings consist of squadrons. A task force is a unit or formation created as
2590-614: The armed forces are divided into three military branches (also service, armed service, or military service ): army , navy , and air force . Many countries have a variation on the standard model of three basic military branches. Some nations also organize their cyber force , emergencies service, medical service , military logistics , space force , marines , and special forces such as commandos or airborne forces as independent armed services. A nation's border guard or coast guard may also be an independent branch of its military, although in many nations border guard or coast guard
2664-417: The armed forces of a state so as to offer such military capability as a national defense policy may require. Formal military organization tends to use hierarchical forms (see Modern hierarchy for terminology and approximate troop strength per hierarchical unit). In some countries, paramilitary forces are included in a nation's armed forces, though not considered military. Armed forces that are not
2738-469: The flotilla level and higher is less commonly abided by, as ships operate in smaller or larger groups in various situations that may change at a moment's notice. However, there is some common terminology used throughout navies to communicate the general concept of how many vessels might be in a unit. Navies are generally organized into groups for a specific purpose, usually strategic, and these organizational groupings appear and disappear frequently based on
2812-515: The long term objective of maximizing the value of the business, while also balancing risk and profitability; this includes the interrelated questions of (1) capital investment , which businesses and projects to invest in; (2) capital structure , deciding on the mix of funding to be used; and (3) dividend policy , what to do with "excess" capital. Human resources can be defined as division of business that involves finding, screening, recruiting , and training job applicants. Human resources, or HR,
2886-825: The " canary in the coal mine " and reduce the cost to businesses of protecting their employees. Sales are activity related to selling or the number of goods or services sold in a given time period. Sales are often integrated with all lines of business and are key to a companies' success. The efficient and effective operation of a business , and study of this subject, is called management . The major branches of management are financial management , marketing management, human resource management , strategic management , production management , operations management , service management , and information technology management . Owners may manage their businesses themselves, or employ managers to do so for them. Whether they are owners or employees, managers administer three primary components of
2960-636: The Cold War. In the British and Commonwealth armies the battlegroup became the usual grouping of companies during the Second World War and the Cold War. Within NATO, a Joint Task Force (JTF) would be such a temporary grouping that includes elements from more than one armed service, a Combined Task Force (CTF) would be such a temporary grouping that includes elements from more than one nation, and
3034-475: The Internet, venture capital, bank loans, and debentures. Businesses often have important " intellectual property " that needs protection from competitors for the company to stay profitable. This could require patents , copyrights , trademarks , or preservation of trade secrets . Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in
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3108-628: The Latin corpus , meaning body, and the Maurya Empire in Iron-Age India accorded legal rights to business entities. In many countries, it is difficult to compile all the laws that can affect a business into a single reference source. Laws can govern the treatment of labour and employee relations, worker protection and safety , discrimination on the basis of age, gender, disability, race, and in some jurisdictions, sexual orientation, and
3182-463: The U.S. Army Force Management Support Agency that prescribes the organization, manning, and equipage of units from divisional size and down, but also including the headquarters of Corps and Armies. It also provides information on the mission and capabilities of a unit as well as the unit's current status. A general TOE is applicable to a type of unit (for instance, infantry) rather than a specific unit (the 3rd Infantry Division). In this way, all units of
3256-650: The US, and unit trusts in the UK. A general partnership cannot "go public". A very detailed and well-established body of rules that evolved over a very long period of time applies to commercial transactions. The need to regulate trade and commerce and resolve business disputes helped shape the creation of law and courts. The Code of Hammurabi dates back to about 1772 BC for example and contains provisions that relate, among other matters, to shipping costs and dealings between merchants and brokers . The word "corporation" derives from
3330-689: The United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign noncompete clauses which will impose limitations on an employee's interactions with stakeholders, and competitors. A trade union (or labor union)
3404-418: The armed forces, may use the same name to denote different types of organizations. An example is the "squadron". In most navies a squadron is a formation of several ships; in most air forces it is a unit; in the U.S. Army it is a battalion-sized cavalry unit; and in Commonwealth armies a squadron is a company-sized sub-unit. A table of organization and equipment (TOE or TO&E) is a document published by
3478-502: The business needs, an adviser can decide what kind is proprietorship will be most suitable. General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business. Generally, corporations are required to pay tax just like "real" people. In some tax systems, this can give rise to so-called double taxation , because first
3552-455: The business's value: financial resources, capital (tangible resources), and human resources . These resources are administered in at least six functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resources. In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, China modeled 80% of its state-owned enterprises on
3626-408: The charter documents and partly by the law of the jurisdiction where the entity is organized. Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate "person". This means that unless there is misconduct,
3700-487: The company from any issues that may arise in the future. Some of the most common activities conducted by those working in HR include increasing innovation and creativity within a company, applying new approaches to work projects, and efficient training and communication with employees . Two of the most popular subdivisions of HR are Human Resource Management , HRM, and Human Resource Information Systems , or HRIS. The HRM route
3774-551: The conditions and demands placed upon a navy. This contrasts with army organization where units remain static, with the same men and equipment, over long periods of time. The five-star ranks of admiral of the fleet and fleet admiral have largely been out of regular use since the 1990s, with the exception of ceremonial or honorary appointments. Currently, all major navies ( blue-water and green-water navies) are commanded by an admiral of either four-star rank or three-star rank depending on relative size. Smaller naval forces, such as
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#17327731078463848-579: The corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed. In most countries, there are laws that treat small corporations differently from large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment. "Going public" through
3922-671: The first stage of development of a potential new service or product. Research and development are very difficult to manage since the defining feature of the research is that the researchers do not know in advance exactly how to accomplish the desired result. Injuries cost businesses billions of dollars annually. Studies have shown how company acceptance and implementation of comprehensive safety and health management systems reduce incidents, insurance costs, and workers' compensation claims. New technologies, like wearable safety devices and available online safety training, continue to be developed to encourage employers to invest in protection beyond
3996-503: The military, including their dependants. Then there are the heads of specific departmental agencies responsible for the provision and management of specific skill- and knowledge-based services such as strategic advice, capability development assessment, or military science provision of research, and design and development of technologies. Within each departmental agency will be found administrative branches responsible for further agency business specialization work. In most countries,
4070-566: The minimum wage, as well as unions , worker compensation, and working hours and leave. Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate
4144-488: The original meaning which referred literally to going to a market to buy or sell goods or services. Marketing tactics include advertising as well as determining product pricing . With the rise in technology, marketing is further divided into a class called digital marketing . It is marketing products and services using digital technologies. Research and development refer to activities in connection with corporate or government innovation. Research and development constitute
4218-399: The owner's own possessions are strongly protected in law if the business does not succeed. Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where
4292-451: The owners and members. Forms of business ownership vary by jurisdiction , but several common entities exist: Less common types of companies are: "Ltd after the company's name signifies limited company, and PLC ( public limited company ) indicates that its shares are widely held." In legal parlance, the owners of a company are normally referred to as the "members". In a company limited or unlimited by shares (formed or incorporated with
4366-433: The partnership is located. No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located. A single person who owns and runs a business is commonly known as a sole proprietor , whether that person owns it directly or through a formally organized entity. Depending on
4440-479: The physical arrangement or disposition of troops and weapons. Examples of formation in such usage include pakfront , panzerkeil , testudo formation , etc. A typical unit is a homogeneous military organization (either combat, combat-support or non-combat in capability) that includes service personnel predominantly from a single arm of service, or a branch of service, and its administrative and command functions are self-contained. Any unit subordinate to another unit
4514-399: The rank of commander. Corvettes , the smallest class of warship, are commanded by officers with the rank of commander or lieutenant-commander . Auxiliary ships, including gunboats , minesweepers , patrol boats , military riverine craft , tenders and torpedo boats are usually commanded by lieutenants , sub-lieutenants or warrant officers . Usually, the smaller the vessel, the lower
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#17327731078464588-479: The rank of the ship's commander. For example, patrol boats are often commanded by ensigns , while frigates are rarely commanded by an officer below the rank of commander. Historically, navies were far more rigid in structure. Ships were collected in divisions , which in turn were collected in numbered squadrons , which comprised a numbered fleet . Permission for a vessel to leave one unit and join another would have to be approved on paper. The modern U.S. Navy
4662-944: The regulatory authority is the Monetary Authority of Singapore (MAS), and in Hong Kong, it is the Securities and Futures Commission (SFC). The proliferation and increasing complexity of the laws governing business have forced increasing specialization in corporate law. It is not unheard of for certain kinds of corporate transactions to require a team of five to ten attorneys due to sprawling regulation. Commercial law spans general corporate law, employment and labor law , health-care law, securities law, mergers and acquisitions, tax law, employee benefit plans, food and drug regulation, intellectual property law on copyrights, patents, trademarks, telecommunications law, and financing. Other types of capital sourcing include crowdsourcing on
4736-420: The reputation of the exchange or particular market of exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares. In some jurisdictions, private companies have maximum numbers of shareholders. A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors;
4810-475: The same branch (such as infantry) follow the same structural guidelines. The following table gives an overview of some of the terms used to describe army hierarchy in armed forces across the world. Whilst it is recognized that there are differences between armies of different nations, many are modeled on the British or American models, or both. However, many military units and formations go back in history for
4884-485: The second company being deemed as a subsidiary of the parent company. The subsidiary company can be allowed to maintain its own board of directors. The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. Accounting is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations . The modern field
4958-683: The size of most nations' regiments or brigades. At the top of the ladder, what other nations would call an army group, the Red Army called a front . By contrast, during the same period the German Wehrmacht army groups, particularly on the Eastern Front , such as Army Group Centre significantly exceeded the above numbers, and were more cognate with the Soviet Strategic Directions . Naval organization at
5032-430: The structure of public administration , often known as a ministry of defence or department of defense . These in turn manage military branches that themselves command formations and units specialising in combat, combat support and combat-service support . The usually civilian or partly civilian executive control over the national military organization is exercised in democracies by an elected political leader as
5106-460: The top levels and different armies and countries may also use traditional names, creating considerable confusion: for example, a British or Canadian armored regiment (battalion) is divided into squadrons (companies) and troops (platoons), whereas an American cavalry squadron (battalion) is divided into troops (companies) and platoons. In the French system (used by many African countries) the company
5180-415: The unit structure, since World War II, many brigades now have such support units, and since the 1980s, regiments also have been receiving support elements. A regiment with such support elements is called a regimental combat team in US military parlance, or a battlegroup in the UK and other forces. Canadian Army doctrine also includes the combat team which is a company of infantry augmented with tanks, or
5254-494: The use of information technology and computer systems in support of enterprise goals. The role of a chief information officer is to lead this department. For example, Ford Motor Company in the United States employs "more than 3,000 team members with advanced computing, analytical and technical skills". Manufacturing is the production of merchandise for use or sale using labour and machines , tools , chemical and biological processing, or formulation. The term may refer to
5328-463: The world, but uncommon in countries with English common law histories where civil police are employed to enforce the law, and there are tight restrictions on how the armed forces may be used to assist. It is common, at least in the European and North American militaries, to refer to the building blocks of a military as command s , formation s , and unit s . In a military context,
5402-401: The world. Companies are also sometimes distinguished into public companies and private companies for legal and regulatory purposes. Public companies are companies whose shares can be publicly traded, often (although not always) on a stock exchange which imposes listing requirements / Listing Rules as to the issued shares, the trading of shares and a future issue of shares to help bolster
5476-515: Was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors , creditors , management , and regulators . Practitioners of accounting are known as accountants . The terms "accounting" and "financial reporting" are often used as synonyms. Commerce
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