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Capital instruments

In: UK Gaap

Author

Listed:
  • Mike Davies

    (Ernst & Young)

  • Ron Paterson

    (Ernst & Young)

  • Allister Wilson

    (Ernst & Young)

Abstract

The accounting treatment of capital instruments — shares and debt securities — by their issuer has not until recently been thought of as presenting significant problems in the UK, and no accounting standards have so far been developed on the subject, although one is now in prospect. The distinction between share and loan capital has always been based on the legal form of the instrument, which again has not traditionally been an area of any concern, and company law has similarly governed their treatment and disclosure in the accounts. However, in recent years there has been substantial development of innovative forms of finance, and some of these new instruments have caused the accounting profession to question whether the conventional framework for accounting for share and loan capital remains adequate.

Suggested Citation

  • Mike Davies & Ron Paterson & Allister Wilson, 1992. "Capital instruments," Palgrave Macmillan Books, in: UK Gaap, edition 0, chapter 0, pages 677-743, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12998-0_12
    DOI: 10.1007/978-1-349-12998-0_12
    as

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