This update provides an overview of the most significant pronouncements, standards and advisories that have resulted from actions of regulatory bodies. We focus on the most significant issues that impacted the economy, accounting and auditing profession in Q4 of 2022 as well as trending areas important to the accounting profession.

These updates are provided by Illumeo as a benefit to professionals to help understand some of the most prevalent issues that may need to be focused on in the coming months.

2022 was a challenging year from both a business and economic outlook.
• Inflation continues to rise
• Cost of living has escalated
• Political unrest continues its instability
• National border issues threaten health and safety of U.S. citizens
• Food prices and supply chain issues still exist
• Supreme Court rulings are testing voters
Will 2023 be any better/worse? Time will tell.

Information for this presentation is taken from leading practice publications and does not reflect the opinion of Illumeo or the speaker.

Learning Objectives
  • Discover and overview of the status of the economy as of end of Dec 2022.
  • Explore and evaluate the economic uncertainty impact on accounting.
  • Recognize and examine FASB Q4 activities.
  • Explore and examine SEC Q4 activities.
  • Identify and examine PCAOB Q4 activities.
Last updated/reviewed: March 23, 2024
7 Reviews (43 ratings)


Anonymous Author
More than half the class was devoted discussing the economy. While this is interesting, it seems more of the class should have been devoted to the accounting updates and the ramifications of those items. Most of the information that we got regarding the updates was a laundry list of the items with no meaningful discussions of those items.

Anonymous Author
Good job with the overview of the status of the economy as of end of Dec 2022. Evaluate the economic uncertainty impact on accounting. Examine FASB Q4 activities. Examine SEC Q4 activities Examine PCAOB Q4 activities

Anonymous Author
Well presented and the slides were great. Not too much information and the graphs were helpful. All relevant information to a up and down economic year

Anonymous Author
Good overview discussion. She did a good job of explaining how current economic indicators reflect the current environment.

Member's Profile
Lots of useful information. Most updates are on economy, not in accounting, but quite interesting.

Anonymous Author
A lot of information stuffed into a small amount of time. Good stuff to be aware of

Anonymous Author
I enjoyed this course, and I found it very informative

Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: 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 .
Instructor for this course
Course Syllabus
  Introduction to Q4 2022 Technical Accounting Update and 2023 Outlook3:35
  Economic Overview11:58
  Economic Overview Cont'd10:00
  Economic Uncertainty Impact on Accounting12:58
  SEC and PCAOB Updates12:42
  Other Updates3:59
  Q4 2022 Technical Accounting Update and 2023 Outlook1:03:30
  Slides: Q4 2022 Technical Accounting Update and 2023 OutlookPDF
  Q4 2022 Technical Accounting Update and 2023 Outlook Glossary/IndexPDF