As if to continue the angst and agony of waiting, the Securities and Exchange Commission recently postponed the compliance date for the application of the Financial Accounting Standards Board's Statement 123(R), "Share-Based Payments."The SEC ruling allows companies to implement the statement, which requires them to expense stock option compensation, at the beginning of their next fiscal year instead of in their first interim or annual period that begins after June 30, 2005, or, for small companies, after Dec. 15, 2005.

The commission's decision, however, in no way affects the accounting required by Statement 123R, nor does it allow smaller companies any more time than larger companies.

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