CIMA Fundamentals of Financial Accounting : BA3

  • Exam Code: BA3
  • Exam Name: Fundamentals of Financial Accounting
  • Updated: Oct 08, 2026     Q & A: 395 Questions and Answers

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About CIMA BA3 Exam

Not sure a study set is what you need? Download the free BA3 demo from PracticeTorrent and review a sample of the CIMA Fundamentals of Financial Accounting practice questions before you spend anything — the 2026 edition is ready to try today.

CIMA BA3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Analysis of Financial Statements10%- Interpretation using accounting ratios
- Liquidity, profitability and solvency analysis
- Limitations of financial statements
Topic 2: Preparation of Accounts for Single Entities30%- Manufacturing and inventory accounting
- Adjusting entries and trial balance
- Preparation of simple cash flow statement
- Preparation of statement of financial position
- Preparation of income statement
Topic 3: Recording Accounting Transactions50%- Accounting for assets, liabilities, equity and expenses
- Correction of errors and control accounts
- Sources of records and books of prime entry
- Reconciliations (bank, receivables, payables)
- Double-entry bookkeeping and ledger accounts
Topic 4: Accounting Principles, Concepts and Regulations10%- Accounting standards and principles
- Elements of financial statements
- Conceptual and regulatory framework
- Nature and objective of financial accounting

Common Questions About the CIMA BA3 Exam

The BA3 exam is the official CIMA (Chartered Institute of Management Accountants) exam behind the CIMA Certificate in Business Accounting (Cert BA) certification, validating the skills measured by the CIMA Fundamentals of Financial Accounting credential. It sits at the Certificate / Entry Level level of the CIMA (Chartered Institute of Management Accountants) certification program. It also connects to BA1 Fundamentals of Business Economics, BA2 Fundamentals of Management Accounting, BA4 Fundamentals of Ethics, Corporate Governance and Business Law, CIMA Professional Qualification, CGMA Designation, so the knowledge you build here carries over to those tracks as well.

The BA3 exam contains 60 questions to be completed within 120 minutes. Before exam day, divide the available time by the question count to work out a comfortable per-question pace, and mark any item that eats into it so you can return later instead of getting stuck. Timed sessions in the PracticeTorrent test engines make that pacing automatic — run at least two full-length mock exams under the clock so time pressure never becomes the reason you drop points.

The passing score for the BA3 exam is 100 out of 150 scaled score (~67%), and the official registration fee is Approx £95–£115 / $120–$145 USD (varies by region). Retakes are not discounted — every new attempt means paying the full fee again — so it pays to measure yourself before you book. Work through the 395 practice questions on PracticeTorrent, sit a timed practice test, and schedule your exam only when your scores are consistently comfortable. That simple habit is the cheapest exam strategy there is.

No formal prerequisites; minimum age 16, basic English and mathematics proficiency required Requirements can change when CIMA (Chartered Institute of Management Accountants) revises its certification program, so confirm the current eligibility rules on the official exam page before you register.

You can book the CIMA Fundamentals of Financial Accounting exam through the official registration channels below:

As for delivery, the exam is offered in the following format: On-demand computer-based test; available at Pearson VUE test centres or online remote proctoring. Choose the option that suits you best when you book your seat.

CIMA (Chartered Institute of Management Accountants) recommends the following training resources for the CIMA Fundamentals of Financial Accounting exam:

Official courses build the foundation; the 395 practice questions from PracticeTorrent then show you how that knowledge is examined, so the two work best together.

Yes. PracticeTorrent provides a free BA3 PDF demo so you can review the question style and answer quality before purchasing. Every purchase also includes 365 days of free updates — if CIMA revises the exam during that period, the updated material reaches you at no cost. Once the free-update year ends, you can extend your update service at a 50% discount.

Every CIMA Fundamentals of Financial Accounting purchase on PracticeTorrent is covered by a 100% money-back guarantee with clear conditions: if you take the corresponding exam within 60 days of your purchase and do not pass, you can claim a full refund by submitting a scanned copy of your exam enrollment slip and your official score report as a PDF within two days of the exam date; claims are processed within seven days of submission. The guarantee does not apply to exams taken within three days of purchase, to material that was downloaded but never used in an exam attempt, or to free products and expired orders, and the candidate name must match the payer name. If you would rather not take a refund, you can instead exchange your purchase for two free exam preparation products of equal value and keep the update service on your original product.

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The CIMA Fundamentals of Financial Accounting exam blueprint is organized into 4 domains. The first three are:

  • Analysis of Financial Statements — 10% of the exam
  • Preparation of Accounts for Single Entities — 30% of the exam
  • Accounting Principles, Concepts and Regulations — 10% of the exam

For the complete domain-by-domain breakdown, scroll up to the full exam topics outline above and use it to plan how you distribute your study time.

CIMA Fundamentals of Financial Accounting Sample Questions:

Question #1

Refer to the Exhibit.

A company has the following information available for the month of June:
The opening receivables balance was $124,600.
The closing receivables balance at the end of June was

  • A. $117,200
  • B. $122,400
  • C. $116,000
  • D. $110,800
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #2

Life membership fees payable to a club or society are usually dealt with by:

  • A. Crediting the total received to a Life Memberships account and transferring a proportion each year to the income and expenditure account
  • B. Crediting the total received to the income and expenditure account in the year in which they are received
  • C. Debiting the total received to a Life Memberships account and transferring a proportion each year to the income and expenditure account
  • D. Debiting the total received to the income and expenditure account in the year in which they are received
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #3

STU has an accounting period end of 31 December 20X8 During the year STU paid $4,800 for business insurance to cover the year to 30 June 20X9 The amount paid for business insurance for 30 June 20X8 was
$4,500.
What is the insurance expense to be recognized in the statement of profit or loss of STU for the year ended 31 December 20X8? Give your answer to the nearest $

Reveal Solution  Discussion  0

Correct Answer:

$4500

Question #4

Which one of the following is an error of original entry?

  • A. An invoice for £592 debited and credited to the correct accounts, but for £529
  • B. An electricity bill debited and credited to the correct accounts but duplicated
  • C. The purchase of a non-current asset debited to the inventory account and credited to the suppliers account
  • D. A credit sale debited to the bank account and credited to the sales account
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #5

Refer to the Exhibit.

The following information is available for the period for AC Limited, a manufacturing company:
The factory cost of goods completed for the period was

  • A. $229,000
  • B. $230,000
  • C. $232,000
  • D. $228,000
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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