This book deals with the presentation of hybrid financial instruments in financial statements (IFRS and German accounting rules/HGB). It is situated at the interface between different fields of law: contracts, company law, insolvency law, and accounting law. In addition, it contains comparisons to banking supervision law and the methodologies on hybrid capital used for credit ratings. Hybrid financial instruments are situated between equity and debt, thus the different notions of equity in public and private ordering form the core of this work.