ACC306 Contemporary Accounting Practices This subject introduces key advanced financial reporting concepts and principles, including accounting for financial instruments. Students must comprehend and implement these concepts when accounting for groups of companies. After the successful completion of this subject students will be able to prepare financial reports for companies and their subsidiaries, account for business combinations and understand the principles of consolidation. Students will be up to date with the latest technical issues in accounting and gain a full appreciation of the relationships between accounting, business and society.