At long last, the Financial Accounting Standards Board has issued its final rule mandating that companies expense at fair value the stock options that they grant to their employees.

The contentious rule, years in the making, moves options from the footnotes of companies' financial statements and onto their income statements as an expense. It also brings U.S. rules in line with similar rules on options issued recently by FASB's overseas counterpart, the International Accounting Standards Board.

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