This review presents a systematic and comprehensive survey of the chemical reactivity of 3-acyl(aroyl) coumarins. The target compounds are important intermediates for the synthesis of a variety of synthetically useful and novel heterocyclic systems with different ring sizes such as isoxazole, pyrazole, 3H-triazolium salts, pyrimidine, pyridine, quinolone, benzoxocin, benzoxonin and benzoxepin.