What is Anglo-American Accounting?

Question

Quizplus · Accepted Answer

Anglo-American accounting refers to the accounting systems used in the U.S., U.K., and other English-speaking countries, specifically the similarities and differences between them. While there may be associations and regulations involved, the primary definition revolves around the accounting practices themselves. Option C is incorrect as the IASB uses International Financial Reporting Standards (IFRS), not Anglo-American accounting, as a basis for their standards. Option D incorrectly implies that all three statements are true, when only option B is most accurate.

What Is Anglo-American Accounting