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 Q2 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 continues to be a challenging year from both a business and economic outlook:

  • Inflation continues to rise
  • 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
Learning Objectives
  • Identify and overview of the status of the economy as of end of Q2 2022.
  • Recognize and evaluate the economic uncertainty impact on accounting.
  • Explore and examine FASB Q2 activities.
  • Discover and examine SEC Q2 activities.
  • Discover and examine Sustainability Board Q2 activities.
  • Explore and examine PCAOB Q2 activities.
Last updated/reviewed: March 4, 2024
9 Reviews (47 ratings)

Reviews

5
Anonymous Author
The class is interesting with alot of discussion on the economy. The test had one question that i believe was a trick question. However, overall, an interesting update to technical subjects that can be dull. The speaker made it interesting by incorporating live examples.
5
Member's Profile
I watched the Q1 and Q2 Update and it was interesting how much the issues stayed the same but that the outlook was more dismal.
5
Member's Profile
Very informative update; from the development in economic environment to the recent events in the Accounting world.
4
Anonymous Author
Very informative and beneficial. Instructor presented information in a manner that was both clear and concise.
4
Anonymous Author
Helpful insights on the state of the economy and how that impacts companies and financial statement preparers.
5
Member's Profile
Good quick update on relatively current events. A bit stale at this point already but still relevant.
5
Anonymous Author
Thank you for the Q2 update, very informative. I look forward to Q3.
5
Member's Profile
I enjoyed this course, and I found it very informative.
3
Anonymous Author
good overview of q2 2022 technical accounting updates
Prerequisites
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 Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Q2 2022 Technical Accounting Update2:19
  Economic Overview13:07
  Economic Uncertainty Impact on Accounting12:29
  Updates5:14
  SEC12:16
  International Sustainability Board Update2:30
  Summary2:09
CONTINUOUS PLAY
  Q2 2022 Technical Accounting Update50:04
SUPPORTING MATERIAL
  Slides: Q2 2022 Technical Accounting UpdatePDF
  Q2 2022 Technical Accounting Update Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam