Evoluzione del trattamento contabile

Many studies carried out on employee stock option plans state that the favourable accounting treatment is often one of the main goals of this form of compensation. Looking at the practice, especially but not only in the U.S., it can be observed that the accounting issue is quite relevant. There is anecdotal evidence to suggest that companies could adverse the recognition of stock option plans for earnings management reasons. This evidence can be also confirmed by the opposition that many high-tech companies expressed to the amendment of SFAS 123, which requires the recognition of share-based payments at the fair value measured at the grant date. Starting from this background, the study aims at summarize the accounting treatment of both SFAS 123 and IFRS 2, focusing on the alternative pricing models that could be adopted (binomial tree, Black-Scholes) and the disclosure required. Additionally, the dynamic fiscal context in Italy has been analysed in order to emphasize the potential impact that it could have, together with the accounting treatment required by IFRS 2, on the future granting of stock option by firms as incentive mechanisms. The chapter is organised as follows. Firstly, the accounting treatment of stock option in U.S. has been considered. Secondly, this treatment has been compared with those approved by the EU and applied to Italian consolidated financial statements starting from 2005 (the IFRS 2), focusing on both pricing models and corporate disclosure. Finally, changes in taxation rules for stock option have been taken into consideration because of their potential impact on firms’ choice to issue stock option as incentive mechanisms.