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2018 was a tumultuous year for the stock markets.  With 2019 came the government shut-down and all the various issues associated with how the shut-down impacted the economy, stock market and the accounting profession.  

With the many regulatory and standard setting bodies focused on accounting and finance issues, it is as important as ever for finance and accounting professionals to stay abreast of recent pronouncements and standards by the various regulatory bodies. Those include the SEC, PCAOB, FASB, GASB, and COSO.

In the  years since SOX, there have been more than 200 new GAAP documents issued in the form of: Emerging Issues Task Force (EITF) consensuses; GAAP statements; Accounting Standards Updates (ASUs); SEC Staff Accounting Bulletins (SABs); Financial Reporting Releases; and many other interpretive guidance.

This course is designed as a 2018 year-end review of the most significant issues faced by the accounting profession.  We also take a look at the stock market trend and results and its impact on the economy.  In this course we also evaluate how the government shut-down experienced in 2019 may have an impact on U.S. businesses.  

Learning Objectives

  • Explore the impact of the government shut-down
  • Explore the 2018 economic environment and stock market year in review
  • Explore the 2019 economic outlook
  • Identify concepts related to cryptocurrencies
  • Explore top 2018 accounting issues including the impact of the Tax Cuts and Jobs Act (TCJA) on individuals and corporations, approaches to adoption of the new lease standard, and steps and approaches to the adoption of the new revenue recognition standard
  • Explore the 2019 outlook of the Financial Accounting Standards Board (FASB)


Last updated/reviewed: June 5, 2021

13 Reviews (51 ratings)Reviews

Anonymous Author
Overall financial and tax rule info is good, but the trump disdain is evident in the beginning which really isn't helpful. The first slide on 2018-2019 Gov shut down is good with facts, but after is only her biased opinion coming through on who's at fault, so take it with a grain of salt.
Anonymous Author
Nice overview. Some of the reviews indicates that there was too much discussion about the political environment however having the benefit of hind sight, I think the instructor was right in addressing the risks and concerns.
Anonymous Author
Lynn's political views taint what is otherwise a good Round-Up. I recommend skipping the Introduction. As an accountant, I follow the rules, they don't care what I think of them. Present, Pro's and Con's and move on.
Anonymous Author
Interesting content. However easier to just read the slides. The speaker's lack of ability to properly pronounce words and enunciate is maddening to listen and follow along.
Anonymous Author
The class supplied a good overview of the various accounting issues from 2018. It gave you enough information without the need for to much of the detail.
Anonymous Author
I enjoyed this course. She talked not only about accounting changes for 2019, but also about the financial and economic outlook for 2019.
Anonymous Author
This course was very helpful. It gave a good overview of everything from 2018 and how it changed in 2019. Very informative.
Anonymous Author
Informative summaries of 2018 with the Outlook for 2019. A lot of topics covered at a very high level.
Anonymous Author
Lots of information to go over. Instructor got kind of boring after a while, but she did ok.
Anonymous Author
Too bias in political views. The budget issues were more with Congress than the President.
Anonymous Author
The course was precise with detailed information supporting the 2019 outlook
Member's Profile
The information was delivered in a clear and concise manner.
Anonymous Author
Delivery was distracting but material was useful.


Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .

1 QuestionCourse Questions and Answers

Member's Profile

From the Instructor

The information presented is not intended to reflect any specific political view. It is factual information found from leading sources such as Forbes, USA today, the Wall Street Journal and publications by the big four. As an individual, I do not have a political view on either side. Any inference in the presentation is unintended and simply represents information I have researched am I’m passing along

Course Syllabus
  9:48Introduction to 2018 Technical Accounting Update and 2019 Outlook
  10:522018 Economic Year in Review
  7:05Economic Outlook
  8:17Top Accounting Issues
  5:27Tax and Jobs Cut Act - Corporate
  10:42Revenue Recognition
  6:06Credit Losses
  1:12:402018 Technical Accounting Update and 2019 Outlook
  PDFSlides: 2018 Technical Accounting Update and 2019 Outlook
  PDF2018 Technical Accounting Update and 2019 Outlook Glossary/Index