'An Empire of Wealth' - John Steele Gordon
To all the frickin' geniusi at the Financial Accounting Standards Board who changed the accounting rules for employee stock purchase plans back in 2005 . . .
Thanks for nothing, guys. Yes you had your reasons
Statement 123(R) will provide investors and other users of financial statements with more complete and neutral financial information by requiring that the compensation cost relating to share-based payment transactions be recognized in financial statements.
but unintended consequences will happen.
In my case, the discount for the ESSP changed from 15% to 5% to conform to safe harbor standards, employee participation dropped (surprise!), and well golly gee it is not cost effective for my employer to continue the plan.
The peasantification of America continues with reckless abandon.