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AeA Continues Opposition to FASB Stock Option Rule Washington, D.C. - 12/16/2004 - The following is a statement from John Palafoutas, senior vice president of domestic policy for AeA, in response to FASB releasing its final stock options expensing standard (FASB Statement 123 - Share-Based Payment):"The Financial Accounting Standards Board (FASB) is continuing to disregard the legitimate concerns of the high-tech industry. "The FASB rule for expensing stock options does not address the real issue at hand. FASB still does not have an accurate method for valuing employee stock options and has shown no interest in finding one. In addition, FASB has rejected suggestions to conduct field testing, which was recommended by over half of the United States Senate. "Since FASB is moving ahead with its fundamentally flawed proposal, we sincerely hope the Securities and Exchange Commission will intervene. However, AeA and its nearly three thousand member companies will continue to aggressively lobby the U.S. House and Senate to seek an appropriate legislative solution in the 109th Congress. - ## - About AeA This page was last updated on 12/16/04. |
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