A large number of accountants agree that depreciation must be
considered to at least some degree as a viable source of income. As
one accountant has noted, "Depreciation does not represent an expense
to the business during the year that it is declared, and must be
included as 'income' to the business."

Is it possible to make a similar statement about non-cash stock
compensation to consultants for services provided to a publicly traded
company?

What resources would help to strengthen an argument that non-cash
stock compensation must be included as 'income' to the company despite
the fact that it is recorded as expense on the company's financial
statements according go Generally Accepted Accounting Principles
(GAAP)?