Hello everyone,

I need your help on a following scenario:

A company issues preference shares redeemable on liquidation with fixed cumulative dividends.
In my view, the fixed cumulative dividends meet the definition of a liability, and maybe split accounting would apply or is this an equity instrument?

I am aware that the IASB currently has a proposal to treat such instruments as liability, but I think this has not been implemented yet.

Any suggestions/help would be greatly appriceated.