AAC (Advanced Audio Coding) files are also lossy audio files. However, .AAC files, in their original state, are much higher in quality than any of the other audio file formats. .AAC files are generally similar in size to MP3s, despite being a tad higher in quality. .AAC files are most commonly associated with iTunes, though they can be used on other player devices and gaming consoles.
For more information, visit the website.