As the Financial Accounting Standards Board agreed to delay the effective date of its impending standard on accounting for employee stock option compensation, proponents of expensing are bemoaning another six months of opposition, while opponents of FASB's standard see an extended opportunity to resist.

The tentative decision moves the effective date from periods beginning after Dec. 15, 2004, to periods beginning after June 15, 2005. FASB made the change after the Securities and Exchange Commission suggested that, at least for the next several months, public companies would be suffering the burden of complying with the new corporate governance reporting requirements of Section 404 of the Sarbanes-Oxley Act.

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