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Accessibility statement
An image to illustrate Financial accounting in context module
This module will help you understand different types of companies, including their formation, company financial accounting, the regulatory framework in which they operate, and their role in market economies, law and society. You’ll gain an understanding of corporate governance and responsibility, and sustainability reporting. You’ll learn how to interact with accountants and auditors to understand their duties, as well as external stakeholders to understand their information needs. By the end of this module, you'll be able to prepare basic company financial accounts and interpret the financial statements of a single entity company from the perspective of external stakeholders.
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 regularly review the assessments in our modules, so we may update the examination method used for this module to an in-person exam or a remotely invigilated (proctored) exam. When we are making such a change, we will make it clear on this page. If we need to make a change after you have registered, we will notify you as soon as possible. If you have additional requirements, we will support you to complete your assessments.
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.
StartEndRegister byEngland fee
03 Oct 202631 Mar 202710 Sep 2026£2,044
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.
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 2027. Fees typically increase annually. For further information about the University's fee policy, visit our Fee Rules.
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