Options deadline postponed.The SEC adopted a rule (www.sec.gov/rules/final/33-8568.pdf) amending the compliance dates for FASB Statement FASB Statement A standard set by the Financial Accounting Standards Board regarding a financial accounting and reporting method. Essentially, FASB statements determine the acceptable accounting practices that Certified Public Accountants use in reporting no. 123 (revised 2004), Share-Based Payment (www.fasb FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). .org/st/summary/stsum:123r.shtml). The new rule does not change the accounting that Statement no. 123R requires but allows companies more time to implement it. Originally the deadline was the beginning of the first interim or annual period after June June: see month. 15, 2005, or--for small business issuers--Dec. 15, 2005. But the SEC requires implementation no later than the beginning of the first fiscal year after those dates. For example, calendar yearend companies, other than small business issuers small business issuer An issuer of securities that has less than $25 million in annual revenues and outstanding publicly held stock worth no more than $25 million. Public offerings by small businesses are subject to special SEC registration rules. , need not comply with Statement no. 123P, until they report to the SEC on the first quarter of 2006. But companies that are not small business issuers and have a June 30 yearend must comply when reporting on the quarter beginning July 1, 2005. The commission also issued guidance related to Statement no. 123R's provisions on valuing stock options (see News Digest Digest: see Corpus Juris Civilis. (1) A compilation of all the traffic on a news group or mailing list. Digests can be daily or weekly. (2) Any compilation or summary. , p. 24). |
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