Contemporary Business Issues

Study guide: fifth edition

The Contemporary Business Issues subject examines contemporary and emerging global issues in order to familiarise you with the business environment you are likely to be operating in as an accountant. It uses contemporary issues as a vehicle for advancing the development of professional skills, values, ethics and attitudes. In particular, Contemporary Business Issues is designed to help you develop a future-focused perspective that: 

• understands the drivers of change affecting business and the accounting profession
• responds positively to change
• values lifelong learning to continually develop and improve technical, business, behavioural and leadership skills
• recognises that accountants add value by providing strategic business advice and contributing to good decision making
• acknowledges the importance of ethics, professional curiosity and enquiry as a means of avoiding imprudent decision making
• welcomes divergent opinions and creative approaches to problem solving as a means of gaining insights into an increasingly complex and dynamic business world.

This subject highlights the challenges and opportunities for the accounting profession, preparing you for a career in the contemporary business environment.

Contemporary Business Issues is an elective subject in the CPA Program.

Exam structure

The Contemporary Business Issues exam comprises multiple-choice questions.

General objectives

On completion of this subject, you should be able to:

• encourage an attitude of professional curiosity by challenging assumptions about contemporary and emerging global issues and how they should be addressed
• assess the role of an accountant in a changing business and technology environment and explain how they can add value
• evaluate human and natural resource management in contemporary organisations and suggest strategies to optimise scarce and dwindling resources
• explain how to manage diverse stakeholder needs.

Subject content

The weighting column in the following table provides an indication of the emphasis placed on each module in the exam. The proportion of study time is a guide for you to allocate your study time for each module.