England

Please tell us where you live so that we can provide you with the most relevant information as you use this website.
If you are at a BFPO address please choose the country or region in which you would ordinarily be resident.
Accessibility statement
This module explores financial accounting in more depth following its introduction in Fundamentals of accounting (B124). The subject is introduced primarily through the structure of International Financial Reporting Standards (IFRS) requirements. You'll learn in some depth the framework for international financial accounting and how to construct and analyse financial statements that are IFRS-compliant. This is a practical module that is especially helpful if you wish to pursue a career in professional accounting.
The aim of this module is to provide a firm grounding in IFRS-compliant financial accounting. After completing this module, you should be able to construct reasonably complex company (but not group) financial statements. The following topics will be covered in this module:
Unit 1: Introduction to financial accounting
Unit 2: Review and enhancement of B124
Unit 3: Assets
Unit 4: Liabilities and capital structure
Unit 5: Preparation of financial statements
Unit 6: Cash flows
Unit 7: Interpretation of financial statements
You will also have the opportunity to use the professional accounting software package Zoho Books.
You must have successfully completed Fundamentals of accounting (B124) before you can begin B250.
If you would like to prepare for this module, you may find that Companies and financial accounting, a free course on OpenLearn, is a helpful introductory resource.
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.
This module includes a remote exam you will take at home or another suitable location. The exam will be invigilated online by ProctorU, a service based outside the UK and with whom you must agree to additional Terms of Service to study this module. Find out more about online invigilation.
You’ll have access to a module website, which includes:
The OU strives to make all aspects of study accessible to everyone, and this Accessibility Statement outlines what studying B250 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.
Intermediate financial accounting starts once a year – in October.
This page describes the module that will start in October 2025.
We expect it to start for the last time in October 2031.
Back to previous page