Abstract:The topic of capital reconstructions is covered in most texts on company accounting and included in most company accounting courses of study at tertiary institutions. Unfortunately, though, there exists little material on the extent of the application of the available reconstruction options, and the usefulness of these options to companies and shareholders.This paper outlines the extent and type of the capital reconstruction schemes proposed by Australian listed companies between 1975 and 1977. Some research regarding the effectiveness of two of the options is then outlined. Finally, a call is made for research to be undertaken into the other available options to determine whether their implementation is really warranted.