Explain the Main Sources of Law in the United States

question 13

Essay

Explain the main sources of law in the United States.

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Definitions:

AICPA

The American Institute of Certified Public Accountants, a professional organization for certified public accountants in the United States.

SEC

Stands for the Securities and Exchange Commission, a U.S. government agency responsible for regulating the securities markets and protecting investors.

Generally Accepted Accounting Principles

A collection of commonly-followed accounting rules and standards for financial reporting.

Financial Accountants

Professionals specializing in managing and reporting a company's financial transactions, ensuring compliance with accounting principles and regulations.