Document Type
Article
Publication Date
1979
Abstract
The Commission hereby adopts rules, encompassing certain amendments to Regulation S-X, to modify the financial statement presentation of preferred stocks subject to mandatory redemption requirements or. whose redemption is outside the control of the issuer. The rules adopted do not impact present reporting practices of registrants not having such securities outstanding. Registrants having such securities outstanding are required to present separately, in balance sheets, amounts applicable to the following three general classes of securities: (i) preferred stocks subject to mandatory redemption requirements or whose redemption is outside the control of the issuer; (ii) preferred stocks which are not redeemable or are redeemable solely at the option of the issuer; and (iii) common stocks. A general heading, stockholders' equity, is not to be used and presentation of a combined total for equity securities, inclusive of redeemable preferred stocks, is prohibited. In addition, the rules require disclosure of redemption terms, five-year maturity data, and changes in redeemable preferred stocks in a separate note to the financial statements captioned "Redeemable Preferred Stocks."
Relational Format
article
Series Title
Accounting Series Release No. 268;Securities Act of 1933 Release No. 6097;Securities Exchange Act of 1934 Release No. 16047;Public Utility Holding Company Act of 1935 Release No. 21263;Investment Company Act of 1940 Release No. 10797
Recommended Citation
United States. Securities and Exchange Commission, "Presentation in financial statements of redeemable preferred stocks" (1979). Federal Publications. 208.
https://egrove.olemiss.edu/acct_fed/208