The purpose of this tutorial article is to provide a brief update on the advances available for laser-induced breakdown spectroscopy (LIBS), focusing broad experimental and instrumental possibilities. Due to the inherent versatility of LIBS, this technique can be elegantly applied to various applications. However, during the method development one should have prior knowledge about its analytical limitations in order to obtain reliable results. In the present review, we summarize key analytical variables required for proper sample treatment, analytical signal enhancement, data processing, qualitative and quantitative approaches as well as recent research and developments using LIBS. Remarkable analytical advances have recently been proposed for LIBS and raised its analytical performance to a level never reached before. Most prominent perhaps, have been the development of many nontraditional calibration approaches based on transition atomic energies (emission wavelengths), the use of a single standard for calibration, increase of the ablated sample mass (accumulated laser pulses), and even overcoming severe LIBS problems such as the matrix effects.