Eagle Accounting processes actions of ownership between the issuer of a security and the holder of the debt instrument as a corporate action.
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The system classifies the action between the issuer and the holder of the security as mandatory or voluntary. Mandatory Actions are non-voluntary actions in which holders of the debt Instrument have no choice but to accept the action set upon them by the issuer. The details of a mandatory action are constant for all owners of the bond. Voluntary Actions are actions either initiated by the holder of the debt instrument or specific to a way in which a holder wants to account for a corporate action by the issuer. Thus a voluntary action by a holder of the debt does not affect other holders of the debt.
Eagle's Accounting solution allows you to set up many types of corporate action. Some corporate action types apply to equities only (cash dividend), some to fixed income only (calls), and others to all kinds of securities (name change).
For corporate action announcements that are similar in nature and require you to enter similar data values, the system provides a single reference data and event panel for a group of corporate actions. For example, calls, puts, and refunds are transactions that are similar in nature and require you to enter and process the same type of information. Rather than provide three separate panels to handle each of these announcements, the system provides a single panel, called the Create Calls/Puts/Refund panel, that you can use to process all three types of announcements. In the Global Process workspace, there is one also panel used to run the global event used to process these three entitlements, as well as cash tenders.