VIDEO SERIES: Lee Klumpp on the New FASB Nonprofit Accounting Standards Update

Back in March, our own Lee Klumpp sat down with Accounting Today to discuss his thoughts on the impending release of the first phase of the FASB’s Not-For-Profit Financial Reporting Project. Now that the ASU has officially been released, marking the largest change to nonprofit accounting in over two decades, Lee is back with more insights. Lee reconnected with Accounting Today to outline his thoughts on key provisions in the update, how organizations can proactively navigate these changes and what developments still lie ahead in phase two of the project. For more information and guidance on the FASB’s Not-For-Profit Financial Statement Reporting Project, contact Lee Klumpp at