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Course type
Diploma  

Diploma

  • Widely recognised qualification.
  • Equivalent to the first two thirds of an honours degree.
  • Enhance your professional and technical skills or extend your knowledge and understanding of a subject.
  • Study for interest or career development.
  • Top up to a full honours degree in just two years.
Credits
240  

Credits

  • Credits measure the student workload required for the successful completion of a module or qualification.
  • One credit represents about 10 hours of study over the duration of the course.
  • You are awarded credits after you have successfully completed a module.
  • For example, if you study a 60-credit module and successfully pass it, you will be awarded 60 credits.
How long it takes
Part-time study – 4 years
Full-time study – 2 years
Time limit – 12 years
Study method
Distance learning
Entry requirements
Find out more about
Entry requirements
Ask a question

Diploma of Higher Education in Accounting and Finance

Course code: W18

This specialist diploma is designed to provide you with an understanding of the role of accounting and financial management within business and today’s society to an intermediate level. You’ll become equipped with the technical skills to practice accountancy along with a broader academic knowledge and cover topics that will instil creative and critical thinking, reasoning, and research skills. These skills and the knowledge you’ll gain from studying this diploma can be applied to a wide range of business activities and prepare you for a variety of exciting careers in accounting, finance or more broadly within business.

 

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  • Covers the theoretical and practical aspects of financial accounting, management accounting and financial management to an intermediate level
  • Develops your ability to evaluate accounting and financial information 
  • Develops academic skills such as critical thinking and assessing arguments

A nationally recognised qualification in its own right, this diploma of higher education is also equivalent to the first two thirds of the BSc (Honours) Accounting and Finance (R52).

Course type
Diploma  

Diploma

  • Widely recognised qualification.
  • Equivalent to the first two thirds of an honours degree.
  • Enhance your professional and technical skills or extend your knowledge and understanding of a subject.
  • Study for interest or career development.
  • Top up to a full honours degree in just two years.
Credits
240  

Credits

  • Credits measure the student workload required for the successful completion of a module or qualification.
  • One credit represents about 10 hours of study over the duration of the course.
  • You are awarded credits after you have successfully completed a module.
  • For example, if you study a 60-credit module and successfully pass it, you will be awarded 60 credits.
How long it takes
Part-time study – 4 years
Full-time study – 2 years
Time limit – 12 years
Study method
Distance learning
Entry requirements

Find out more about Entry requirements

Ask a question

This diploma has two stages, each comprising 120 credits.

  • You’ll start Stage 1 with an introduction to business and management, learn the fundamentals of accounting and business data analytics and decision making.  
  • Next, in Stage 2, you'll study financial accounting, management accounting, financial management and law for accounting and finance. 

Prepare for OU study with an Access module

We offer two starting points depending on how confident you are or how long it’s been since you last studied. Choose to dive straight in at Stage 1, or if you’d prefer some extra preparation, you can get started with an optional Access module. See Entry requirements for more details.

You’ll learn essential and fundamental knowledge relating to understanding accounting, business management, and data analytics and decision making. These modules will lay the foundations of your studies and will prepare you for Stage 2.

Stage 1 modules
ModulesCredits
You'll start your diploma with:
An introduction to business and management (B100)60
Fundamentals of accounting (B124)30
Business data analytics and decision making (B126)30

This stage develops the knowledge and skills you gained at Stage 1 and delves deeper into the theoretical and practical elements of financial and management accounting and finance/financial management. You’ll also be introduced to the main legal principles within the context of accounting and finance.

All Stage 2 modules in this qualification include an online-invigilated exam. ProctorU, a service based outside the UK, will remotely invigilate your exam. To study these modules, you must agree to additional Terms of Service. Find out more about online invigilation.

Stage 2 modules
ModulesCredits
You'll study the following:
Intermediate financial accounting (B250)30
Business law (B251)30
Financial management (B252)30
Intermediate management accounting (B253)30

We regularly review our curriculum; therefore, the qualification described on this page – including its availability, its structure, and available modules – may change over time. If we make changes to this qualification, we’ll update this page as soon as possible. Once you’ve registered or are studying this qualification, where practicable, we’ll inform you in good time of any upcoming changes. If you’d like to know more about the circumstances in which the University might make changes to the curriculum, see our Academic Regulations or contact us. This description was last updated on 7 October 2024.

Accessibility

Our qualifications are as accessible as possible, and we have a comprehensive range of support services. Our Diploma of Higher Education in Accounting and Finance uses a variety of study materials and includes the following elements:

  • Online study – most modules are online; some have a mix of printed and online material. Online learning resources could include websites, audio/video, and interactive activities
  • Pre-determined schedules – we’ll help you to develop your time-management skills
  • Assessment in the form of short-answer questions, essays, and examinations
  • Using and producing diagrams and screenshots
  • Finding external/third-party material online
  • Accessing online catalogues and databases
  • Specialist software, such as Excel
  • Online tutorials
  • Group-work

Every module has its own Accessibility Statement with more detailed accessibility information – you’ll find these on individual module descriptions. Visit our Disability support page to learn about our services.

Learning outcomes, teaching and assessment

This qualification develops your learning in four main areas:

  • Knowledge and understanding.
  • Cognitive skills.
  • Practical and professional skills.
  • Key skills.

The level and depth of your learning gradually increases as you work through the qualification. You’ll be supported throughout by the OU’s unique style of teaching and assessment – which includes a personal tutor to guide and comment on your work; top quality course texts; elearning resources like podcasts, interactive media and online materials; tutorial groups and community forums.

Read the detailed learning outcomes here

Credit transfer

If you’ve already completed some university-level study somewhere else, you may be able to count it towards this qualification – which could save you time and money by reducing the number of modules you need to study. At the OU we call this credit transfer. It’s not just university study that can be considered, you can also transfer study from a wide range of professional or vocational qualifications such as HNCs and HNDs.

You should apply for credit transfer before you register, at least 4 weeks before the registration closing date. For more details and to download an application form, visit our Credit Transfer website.

On completion

On successfully completing this course, we’ll award you our Diploma of Higher Education in Accounting and Finance.

International recognition

If you intend to use your Open University qualifications to seek work or undertake further study outside the UK, we recommend checking whether your intended qualification will meet local requirements for your chosen career. Find out more about international recognition of Open University qualifications.

Regulations

As a student of The Open University, you should be aware of the content of the qualification-specific regulations below and the academic regulations that are available on our Student Policies and Regulations website. 

Compare this course

There are no formal entry requirements for this qualification.

However, a basic understanding of mathematical operations, such as addition, subtraction, multiplication, and division, would be helpful.

How much time do I need?

  • Most of our students study part time, completing 60 credits a year.
  • This will usually mean studying for 16–18 hours a week.

Find out if you have enough time to study with our time planner

Preparing for study with an Access module

Students who start their study with an Access module are more likely to be successful when they advance to Stage 1 of their qualification. They’re specially designed to give you a gentle introduction to OU study, boost confidence in your study skills, and help you gain a broad overview of your chosen subject area.

You’ll also benefit from:

  • feedback from your tutor through regular one-to-one phone tutorials
  • support from a dedicated team throughout your study
  • detailed written feedback on your work.
The Access module we’d recommend studying in preparation for this qualification is our:

Business and law Access module

What you will study

This multidisciplinary module provides an excellent introduction to studying with The Open University as you'll use printed and online materials to cover a wide range of topics in law and business.

View full details of Business and law Access module

Fees and funding in England

80% of our students pay nothing upfront by financing their studies with a student loan.

In this section:
Tuition fee
What are my funding options?
Other costs to think about
Additional support

Tuition fee

Diploma of Higher Education in Accounting and Finance

Years of  study

2 years 4 years

Current fee per year in England

£7,272* £3,636*

How we worked out the cost

A diploma of higher education is worth 240 credits. The fee per year is based on studying 60 credits per year for 4 years. A diploma of higher education is worth 240 credits. The fee per year is based on studying 120 credits per year for 2 years.

Total fee for qualification at current prices

£14,544*

You’ll fund your modules as you study them – you won’t have to pay for your whole qualification up front

That’s 21% less than the cost of an equivalent qualification offered at most other universities in England.

See comparison table

*The fee information provided here is valid for modules starting before 31 July 2025. Fees typically increase annually. In England, fees are subject to the part-time fee limit, as set out in section C of the University's Fee Rules.

What are my funding options?

There are several ways to fund your study, often without paying anything upfront.

Student loan

The most common way for our students to fund their study

  • A student loan is used by 80% of our students.
  • It’s not means-tested and there’s no age limit.
  • You don’t pay anything upfront. Student Finance England pay your fees directly to the OU for you.
  • You won’t pay back a penny until you earn over £25,000.
  • The amount you repay is tied to how much you earn. For example, if you earn £27,000 you’ll pay just £15.00 per month.

Other options

Open University Student Budget Account (OUSBA)

Repay in monthly instalments while you study.

Credit/debit card or bank transfer

Pay before each module starts. You can also combine card or bank transfer payments with other payment methods.

Employer sponsorship

More than 1 in 10 OU students are sponsored by their employer.

Enhanced Learning Credits (ELCs)

If you’re a serving member of the British Armed Forces (or you’ve recently left), you may be eligible to use ELCs to cover up to 100% of your course fees.

Which funding options could I be eligible for?


Other costs to think about

Your course fees cover your tuition, assessment and study materials, but there are still a few additional costs that can come with studying. If your income is less than £25,000 or you receive a qualifying benefit, you could get help with some of these costs after you start studying.

  • You’ll need a computer and the internet to access our learning resources and to participate in online tutorials.

Additional support

You may be eligible for:

  • help with study-related costs like set books and internet access
  • a free introductory Access module to build your confidence and skills
  • funding to study an OU qualification for free from our Carers’ Scholarships Fund if you are, or have recently been, an unpaid carer
  • a Carers’ Bursary towards study-related costs if you provide unpaid care to a friend or family member
  • a Care Experienced Bursary of £250 towards study-related costs if you’ve previously been, or are currently, in care
  • a Care Experienced Scholarship to study an OU qualification for free if you're care experienced and aged 25 and under
  • a Sanctuary Scholarship to study an OU qualification for free if you’ve been displaced from your homeland for political, economic, ethnic, environmental, or human rights pressures
  • funding from our Scholarship for Black Students to study an OU qualification for free if you identify as being from a Black background

If you have a disability

  • The Disabled Students’ Allowance (DSA) is a government grant to cover study support costs if you have a disability. It’s not means-tested, and there’s no age limit. Visit our Supporting students with disabilities page to find out more.
  • If your disability is a result of being injured in, or due to, military service, you could be eligible for our Disabled Veterans’ Scholarship Fund.

Need more information?

Talk through your funding options with one of our advisors

Contact us

How will I study this course?

With our unique approach to distance learning, you can study from home, work or on the move.

You’ll have some assessment deadlines to meet, but otherwise, you’ll be free to study at the times that suit you, fitting your learning around work, family, and social life.

For each of your modules, you’ll use either just online resources or a mix of online and printed materials.

Each module you study will have a module website with

  • a week-by-week study planner, giving you a step-by-step guide through your studies
  • course materials such as reading, videos, recordings, and self-assessed activities
  • module forums for discussions and collaborative activities with other students
  • details of each assignment and their due dates
  • a tutorial booking system, online tutorial rooms, and your tutor’s contact details
  • online versions of some printed module materials and resources.

If you have additional needs, we can also provide most module materials in alternative formats. Find out more about materials on our accessibility webpage.

See how our module websites work.

Tutor support

Student, Joe, talks about balancing working at the NHS and studying with the OU and how he has the best of both worlds.

You’ll have a tutor for each module, who will introduce themselves before the module begins.

Throughout the module, they will:

  • mark your assignments and give feedback to help you improve
  • guide you to learning resources
  • support you, whether with general study skills or help with a specific topic.

Tutorials

Tutorials usually take place online, and they’re always optional.

Online tutorials are live presentations with module tutors in dedicated online tutorial rooms and are sometimes recorded.

Assessment

Our assessments are all designed to reinforce your learning and help you show your understanding of the topics. The mix of assessment methods will vary between modules.

Computer-Marked Assignments

  • Usually, a series of online, multiple-choice questions.

Tutor-Marked Assignments

  • You’ll have a number of these throughout each module, each with a submission deadline.
  • They can be made up of essays, questions, experiments or something else to test your understanding of what you have learned.
  • Your tutor will mark and return them to you with detailed feedback.

End-of-Module Assessments

  • The final, marked piece of work on most modules.
  • Modules with an end-of-module assessment won’t usually have an exam.

Exams

  • Some modules end with an exam. You’ll be given time to revise and prepare.
  • You’ll be given your exam date at least 5 months in advance.
  • Most exams take place remotely, and you will complete them at home or at an alternative location.
  • If a module has an in-person exam (that you must take at one of our exam centres) or is invigilated online, we’ll make this clear in the module description.

Progressing to a point where I felt more comfortable writing my assignments, and having my scores reflecting that, made me quite happy because it showed the hard work was being rewarded.

Patrick ‘Ricky’ Skene, BSc (Hons) Sport, Fitness and Coaching

Other support and resources

Throughout your studies, you’ll have access to our subject-specific Student Support Teams.

They’ll help you with any general questions about your study and updates to your OU account.

To help with your studies, you’ll also have access to:

  • our online library, with high-quality online resources to support your study
  • other university libraries in the UK and Ireland
  • the online Help Centre, which has general information about OU study and support, along with study skills advice
  • free Microsoft Office 365 software
  • IT and computing support from our Computing Helpdesk.

Find out more about student support and being a part of the OU community.

Having a course that was really varied and studying in a style that worked for Nick, was key to him launching his own business and becoming an entrepreneur.

Skills for career development

The ability to analyse, report and manage financial information is a much sought-after skill in organisations. By completing this diploma you’ll be equipped with transferrable skills and knowledge that can be applied in many areas of an organisation. Here are some of the skills which this diploma will help you acquire.

  • Understanding the contexts within which an accounting and finance professional operates including wider organisational, ethical and governance issues
  • Understanding, applying and assessing a range of qualitative and quantitative concepts, methods, tools and techniques
  • Interpreting financial and accounting information.
  • Communicating and presenting accounting and finance information clearly and succinctly.
  • Constructing logical and coherent arguments and applying critical thinking.

Career relevance

The skills and knowledge you’ll develop by studying this diploma will equip you to follow a number of career paths, and are recognised by employers as having great value for work in accounting, finance and business management areas. A qualification in accounting and finance can lead to opportunities in a wide range of areas such as auditing, taxation, management and financial reporting. Some careers may require further study, training and/or work experience beyond your degree such as becoming a Chartered Accountant or a Chartered Financial Analyst.

Accreditation

The Open University Business School is one of the few institutions worldwide that are triple-accredited by the Association to Advance Collegiate Schools of Business (AACSB) the European Quality Improvement System (EQUIS), and Association of MBAs (AMBA). These are internationally recognised quality standards which independently validate the quality of the School’s teaching, research and operations. The School undergoes regular reviews to ensure that standards are maintained and has successfully retained its triple accredited status since 2004. This qualification is accredited through inclusion in these reviews.

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Exploring your options

Once you register with us (and for up to three years after you finish your studies), you’ll have full access to our careers service for a wide range of information and advice. This includes online forums, website, interview simulation, vacancy service as well as the option to email or speak to a careers adviser. Some areas of the careers service website are available for you to see now, including help with looking for and applying for jobs. You can also read more general information about how OU study enhances your career.

In the meantime if you want to do some research around this qualification and where it might take you, we’ve put together a list of relevant job titles as a starting point. Some careers may require further study, training and/or work experience.

  • accountant 
  • management accountant
  • financial accountant
  • business analyst
  • financial analyst 
  • budgetary advisor
  • fund manager 
  • risk analyst
  • management consultant
  • investment analyst
  • tax advisor/analyst
  • auditor 
  • project manager
  • finance manager
  • financial controller.

Register for this course

Start dates
Credit transfer: apply by 05/12/2024

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