The Financial Acccounting Standards Board has finally stepped up to the plate and issued a new rule requiring public companies to expense stock options. FASB faced an intense lobbying campaign on Capitol Hill to block the proposed change.
Here is a link to a story on the change, a link to the FASB site where the full text of the new rule can be found, and a link to the testimony I delivered to a U.S. Senate Committee last spring supporting the FASB proposal.