快猫视频

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Understanding financial statements

The aim of this CPD course is to help you understand and interpret three types of financial statements. The first statement summarises the financial aspects of an organisation’s operations over a particular period. The second is a snapshot of what the organisation owned and what they owed on the final day of the defined period. The third type of statement explains how the organisation generated cash and what they did with it. The exact details of how financial statements are prepared (and audited by independent persons) vary between the different classes of organisation but at their root they all prepare three statements.

Standalone study only

You will not be awarded credits for studying this course. It is available for standalone study only and cannot be counted towards an OU qualification.

Short course

Short course code

BGXS006

Credits

This is a non-credit bearing course.

Study method

Distance Learning

Short course cost

See Registration

Entry requirements

See Entry requirements
Course details Entry requirements Registration Study materials

What you will study

This Continuing Professional Development (CPD) course will help you develop a general understanding of financial reports and comprises of four units:

Unit 1: General purpose financial reports

This is a foundation for the course as it covers some basic accounting concepts so you can understand what the main financial statements produced by businesses and government organisations are intended to do.

Unit 2: The income statement

This unit looks at revenue and expenses and how a profit or a loss is the result of many judgements.

Unit 3: The balance sheet (statement of financial position)

This is a snapshot of an organisation’s financial position at a point in time. You&/courses/short-courses/bgxs006/39;ll learn about assets, liabilities and the net worth of an organisation. It also includes a brief explanation of the statement of changes in equity.

Unit 4: Statement of cash flows

The statement of cash flows explains where an organisation gets its cash and what it spends it on. The income statement explains the change from one balance sheet to the next in terms of resources; the cash flow statement explains it in terms of cash received and spent.

You will learn

By studying this CPD course you will be able to:

  • describe general purpose financial reports
  • explain the terms assets, liabilities, revenue, expenses and equity
  • know the difference between a profit and a cash surplus
  • use a balance sheet to estimate the net worth of an organisation
  • explain how the three financial statements fit together and provide management information.

Learner support

This course was designed to be independently studied with no tutor support. StudentHome is a dedicated website that provides general study support and there is a computing helpdesk. 

Teaching and assessment

Assessment

There an end-of-course quiz to test your knowledge and understanding. Once completed and successfully passed you will receive a digital badge and a course completion certificate which you can download as a record of your learning.

Regulations

As a student of 快猫视频, you should be aware of the content of the academic regulations, which are available on our website.


Entry requirements

There are no formal academic requirements.

If you have any doubt about the suitability of the course, please .

Course length

The course will require around 10 hours to complete.

You can begin at any time during the life of the course and study at your own pace.

Register

Start End England fee Register
At anytime before registration end date Jan 2026 - see Entry requirements for more detail 拢150.00

Registration closes 31/07/2025

Ways to pay

Credit/Debit Card – We accept American Express, Mastercard, Visa and Visa Electron.

Sponsorship – If this course is geared towards your job or developing your career, you could ask your employer to sponsor you by paying some or all of the fees. Your sponsor just needs to complete a simple form to confirm how much they will be paying and we will invoice them.

The fee information provided here is valid for short courses starting in the 2024/25 academic year. Fees typically increase annually. For further information about the University&/courses/short-courses/bgxs006/39;s fee policy, visit our .

Can you study an Access module for free?

Depending on eligibility and availability of places, you could apply to study your Access module for free.

To qualify, you must:

  1. be resident in England
  2. have a household income of not more than £25,000 (or be in receipt of a qualifying benefit)
  3. have not completed one year or more on any full-time undergraduate programme at FHEQ level 4 or above or successfully completed 30 credits or more of OU study within the last 10 years

How to apply to study an Access module for free

Once you&/courses/short-courses/bgxs006/39;ve started the registration process, either online or over the phone, we&/courses/short-courses/bgxs006/39;ll contact you about your payment options. This will include instructions on how you can apply to study for free if you are eligible and funded places are still available.

If you&/courses/short-courses/bgxs006/39;re unsure if you meet the criteria to study for free, you can check with one of our friendly advisers on +44 (0)300 303 0069, or you can request a call back.

Not eligible to study for free?

Don&/courses/short-courses/bgxs006/39;t worry! We offer a choice of flexible ways to help spread the cost of your Access module. The most popular options include:

  • monthly payments through OUSBA
  • part-time tuition fee loan (you&/courses/short-courses/bgxs006/39;ll need to be registered on a qualification for this option)

To explore all the options available to you, visit Fees and Funding.

What's included

All learning materials, exercises, study support and end of course quiz are delivered entirely online. 

Computing requirements

  • Primary device – A desktop or laptop computer. It’s possible to access some materials on a mobile phone, tablet or Chromebook; however, they may not be suitable as your primary device as their functionality may be limited. For example, voice recorder activities, which feature in language short courses, may not work on iOS/Apple devices.
  • Peripheral device – Headphones/earphones with a built-in microphone for online tutorials.
  • Our OU Study app operates on supported versions of Android and iOS.
  • Operating systems – Windows 10 or 11 or macOS Ventura (or higher).
  • Internet access – Broadband or mobile connection.
  • Browser – Google Chrome and Microsoft Edge are recommended; Mozilla Firefox and Safari may be suitable.

If you have a disability

The course is delivered online and makes use of a variety of online resources. If you use specialist hardware or software to assist you in using a computer or the internet you are advised to about support which can be given to meet your needs.

The OU strives to make all aspects of study accessible to everyone and this Accessibility Statement outlines what studying BGXS006 involves. You should use this information to inform your study preparations and any discussions with us about how we can meet your needs.