In this article, warrants which are help to corporations to obtain fund especially in economic slump times are studied. A warrant refers to the option to purchase a given number of shares of stock at a given price. Generally, warrants are distributed along with debt and they are used to induce investors to buy a firm’s long term debt at a lower interest rate than otherwise would be required.Warrants can be either detachable or nondetachable. A detachable warrant may be sold separately from the bond with which it is associated. Thus, the holder may exercise the warrant but not redeem the bond if he or she wishes. A nondetachable warrant is sold with its bond to be exercised by the bond owner simultaneously with the convertible bond. In addition a company may sell warrants separately or in combination with other securities.Warrants generally are used by small, rapidly growing firms “as sweeteners” to help sell either debt or preferred stock. Such firms frequently are regarded as being very risky and their bonds can be sold only if the firms are willing to pay extremely high rates of interest and to accept very restrictive indenture provisions.On the other hand, in this article, an approach how can the warrants be recorded according to Turkish Accounting System is presented.