My OpenLearn Profile
- Personalise your OpenLearn profile
- Save your favourite content
- Get recognition for your learning
Financial accounting and reporting
This free course, Financial accounting and reporting, discusses how accountants act as processors and purveyors of information for decision making and the needs of those who use accounting information. It also looks at the role performed by accountants and notes the need to be aware of relevant regulatory and conceptual frameworks.
Course learning outcomes
After studying this course, you should be able to:
- define bookkeeping and accounting
- explain the general purposes and functions of accounting
- explain the differences between management and financial accounting
- describe the main elements of financial accounting information – assets, liabilities, revenue and expenses
- identify the main financial statements and their purposes.
You can start this course right now without signing-up. Click on any of the course content sections below to start at any point in this course.
If you want to be able to track your progress, earn a free Statement of Participation, and access all course quizzes and activities, sign-up.
- Learning outcomes
- 1 Definitions of bookkeeping, accounting and reporting
- 2 Reasons for and objectives of accounting
- 3 Management and financial accounting
- 4 The main elements of accounting information
- 5 The main financial statements
- Keep on learning
Create an account to get more
Track your progress
Review and track your learning through your OpenLearn Profile.
Statement of participation
On completetion of a course you will earn a Statement of participation.
Access all course activities
Take course quizzes and access all learning.
Review the course
When you have finished a course leave a review and tell others what you think.
Creative commons: The Open University is proud to release this free course under a Creative Commons licence.
However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions and our FAQs.
Full copyright details can be found in the Acknowledgements section of each week.
For further information, take a look at our frequently asked questions which may give you the support you need.Have a question?
Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has nearly 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.
Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.
About this free course
12 hours study
Level 2: Intermediate
Become an OU student
Download this course
Free statement of participation on completion of these courses.