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CIMA BA3 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
| Exam Name: | Fundamentals of Financial Accounting |
| Exam Number: | BA3 |
| Exam Format: | Computer-based Objective Test, Multiple Choice, Multiple Response, Number Entry, Drag and Drop, Hot Spot |
| Available Languages: | English |
| Exam Price: | Approx £95–£115 / $120–$145 USD (varies by region) |
| Real Exam Qty: | 60 |
| Related Certifications: | BA1 Fundamentals of Business Economics BA2 Fundamentals of Management Accounting BA4 Fundamentals of Ethics, Corporate Governance and Business Law CIMA Professional Qualification CGMA Designation |
| Passing Score: | 100 out of 150 scaled score (~67%) |
| Exam Duration: | 120 minutes |
| Certificate Validity Period: | No fixed expiry; valid for progression to CIMA Professional Qualification |
| Recommended Training: | CIMA Official Study Materials CIMA Approved Learning Partners |
| Exam Registration: | Pearson VUE Booking CIMA Official Registration |
| Sample Questions: | CIMA BA3 Sample Questions |
| Exam Way: | On-demand computer-based test; available at Pearson VUE test centres or online remote proctoring |
| Pre Condition: | No formal prerequisites; minimum age 16, basic English and mathematics proficiency required |
| Official Syllabus URL: | https://www.cimaglobal.com/Study-with-us/Exams-and-assessments/Certificate/BA3/ |
CIMA BA3 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Accounting Principles, Concepts and Regulations | 10% | - Accounting standards and principles - Conceptual and regulatory framework - Nature and objective of financial accounting - Elements of financial statements |
| Analysis of Financial Statements | 10% | - Limitations of financial statements - Liquidity, profitability and solvency analysis - Interpretation using accounting ratios |
| Recording Accounting Transactions | 50% | - Double-entry bookkeeping and ledger accounts - Sources of records and books of prime entry - Correction of errors and control accounts - Reconciliations (bank, receivables, payables) - Accounting for assets, liabilities, equity and expenses |
| Preparation of Accounts for Single Entities | 30% | - Adjusting entries and trial balance - Manufacturing and inventory accounting - Preparation of statement of financial position - Preparation of income statement - Preparation of simple cash flow statement |
CIMA Fundamentals of Financial Accounting Sample Questions:
1. Refer to the Exhibit.
A company has the following transactions for an accounting period:
Closing inventory at the end of the period was $3,200 and gross profit was $16,400.
The opening inventory was therefore
2. Which THREE of the following would be recorded as a debit balance in the trial balance?
A) Share capital
B) Dividends paid
C) Opening inventory
D) Income tax liability
E) Dividends received
F) Income tax expense
3. CDE, an entity registered for sales tax, purchases a piece of equipment for cash on 31 December 20X6 for
$30,000 including sales tax. The sales tax rate is 20%. What is the journal entry required to record this transaction in the nominal ledger?
Place the labels in the corresponding position in the table below:
4. Refer to the Exhibit.
The following information is given at a manufacturer's year end:
Using some or all of the above figures, the correct figure for factory cost of goods completed is:
A) £115,700
B) £131,700
C) £125,700
D) £135,300
5. In a cash flow statement, which one of the following would not be found under the section "cash flows from financing activities"?
A) Loan repayments
B) Dividend payments
C) Proceeds from issuing shares
D) Dividend received
Solutions:
| Question # 1 Answer: Only visible for members | Question # 2 Answer: C,D,F | Question # 3 Answer: Only visible for members | Question # 4 Answer: B | Question # 5 Answer: D |
By Barnett
