You will study two aspects of company financial accounting and reporting.
Accounting technical: understanding, preparing and interpreting company financial statements and reports. You'll learn how to prepare income statements, balance sheets, statements of changes in equity, and cash flow statements for single-entity companies. You'll also learn how to interpret financial statements from the perspective of external stakeholders.
Contextual: the economic, legal and social context of companies and company financial accounting. You'll learn about the characteristics of market economies and companies, regulation, financial accounting standards, audit and corporate governance, and why business ethics, corporate responsibility, and sustainability reporting are essential for mitigating the deficiencies of corporate governance and financial reporting. You'll also learn about contract law and employment law and their influence on financial accounting.
You will learn about the different legal forms of business entities and the differences in regulatory requirements that company law places on private limited companies, public limited companies, and quoted or listed companies.
This module supports you in developing cognitive, practical and professional skills, including:
You’ll get help and support from an assigned tutor throughout your module.
They’ll help by:
Online tutorials run throughout the module. While they’re not compulsory, we strongly encourage you to participate. Where possible, we’ll make recordings available.
Course work includes:
We are introducing a new way of submitting a TMA for this module and a small number of other modules. This will simplify the process of submitting your work and collecting your marks and feedback.
You’ll be provided with a printed Exam Preparation Workbook and have access to a module website which includes:
A non-programmable calculator.
You can study this module on its own or use the credits you gain towards an Open University qualification.
B293 is an option module in our:
Financial accounting in context starts once a year – in October.
This page describes the module that will start in October 2026, when we expect it to start for the last time.
As a student of The Open University, you should be aware of the content of the academic regulations, which are available on our Student Policies and Regulations website.
This module assumes that you will have completed Fundamentals of accounting (B124) or equivalent. Therefore, you should already:
The end-of-period adjustments that you need to be able to make include:
At the start of the module, you'll have the chance to review the prerequisite core knowledge and skills. This way, even if you completed an accounting module a while ago, you can refresh your understanding and skills in order to feel confident that you're ready for this module. You'll also be required to use a calculator and Excel spreadsheets.
If you have any doubt about the suitability of the module, please speak to an adviser.
The OU strives to make all aspects of study accessible to everyone, and this Accessibility Statement outlines what studying B293 involves. You should use this information to inform your study preparations and any discussions with us about how we can meet your needs.
To find out more about what kind of support and adjustments might be available, contact us or visit our Disability support website.
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There may be extra costs on top of the tuition fee, such as set books, a computer and internet access.
If your income is not more than £25,000 or you receive a qualifying benefit, you might be eligible for help with some of these costs after your module has started.
There may be extra costs on top of the tuition fee, such as set books, a computer and internet access.
If your personal income is £25,000 or less, or you’re on certain benefits, you could qualify for a grant and OU top-up funding to cover 100% of your course fees. Apply online at the same time as you register on your module.
For more information on how to apply, visit our Part-Time Fee Grants for students in Scotland page.
The Open University Student Budget Accounts Ltd (OUSBA) offers a convenient 'pay as you go' option to pay your OU fees, which is a secure, quick and easy way to pay. Please note that The Open University works exclusively with OUSBA and is not able to offer you credit facilities from any other provider. All credit is subject to status and proof that you can afford the repayments.
You pay the OU through OUSBA in one of the following ways:
Joint loan applications
If you feel you would be unable to obtain an OUSBA loan on your own due to credit history or affordability issues, OUSBA offers the option to apply for a joint loan application with a third party. For example, your husband, wife, partner, parent, sibling or friend. In such cases, OUSBA will be required to carry out additional affordability checks separately and/or collectively for both joint applicants who will be jointly and severally liable for loan repayments.
As additional affordability checks are required when processing joint loan applications, unfortunately, an instant decision cannot be given. On average, the processing time for a joint loan application is five working days from receipt of the required documentation.
Read more about Open University Student Budget Accounts (OUSBA).
Studying with The Open University can boost your employability. OU courses are recognised and respected by employers for their excellence and the commitment they take to complete. They also value the skills that students learn and can apply in the workplace.
Over 30,000 employers have used the OU to develop staff so far. If the module you’ve chosen is geared towards your job or developing your career, you could approach your employer to see if they will sponsor you by paying some or all of the fees.
You can pay part or all of your tuition fees upfront with a debit or credit card when you register for each module.
We accept American Express, Mastercard, Visa and Visa Electron.
We know that sometimes you may want to combine payment options. For example, you may wish to pay part of your tuition fee with a debit card and pay the remainder in instalments through an Open University Student Budget Account (OUSBA).
We know that sometimes you may want to combine payment options. For example, you may get support from your employer to pay part of your tuition fee and pay the remainder by credit or debit card.
For more information about combining payment options, contact an adviser.
Please note: your permanent address/domicile will affect your fee status and, therefore, the fees you are charged and any financial support available to you. The fee information provided here is valid for modules starting before 31 July 2026. Fees typically increase annually. For further information about the University's fee policy, visit our Fee Rules.
