The Securities and Exchange Commission voted to delay the effective date of a Financial Accounting Standards Board rule that requires companies to treat employee stock options as expenses.
The decision means that companies that report earnings on a calendar year have another six months before they must start treating options as expenses. The delay gives companies until the start of their first fiscal year after June 15, 2005. Under the Financial Accounting Standards Board's rule, expensing would've started with the first fiscal quarter after that date.
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