Acetylacetone is an organic compound that exists in two tautomeric forms that interconvert rapidly and are treated as a single compound in most applications. Although the compound is formally named as the diketone form, pentane-2,4-dione, the enol form forms a substantial component of the material and is actually the favored form in many solvents. It is a colourless liquid that is a precursor to acetylacetonate (acac), a common bidentate ligand. It is also a building block for the synthesis of heterocyclic compounds.