SFAS 123R to be delayed?

Jack Ciesielski writing for AAO Weblog reports:

Oh, there’ll be dancing in the streets of Silicon Valley this morning (4/13/05) …

The Wall Street Journal reports that SEC staff, including chief accountant Don Nicolaisen and Alan Beller, director of the division of corporation finance, will recommend to the SEC’s commissioners that the implementation date for Statement 123(Revised) be delayed by six months. Instead of taking place in fiscal periods beginning after June 15, the proposal will require implementation to begin in fiscal years beginning after June 15. For calendar year companies, that would mean it would be effective January 1, 2006. According to the Journal’s sources, the five commissioners are likely to approve the change unanimously.

Read Jack’s thoughts here.