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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Analysis of Financial Statements | 10% | - Interpretation using accounting ratios - Liquidity, profitability and solvency analysis - Limitations of financial statements |
| Topic 2: Preparation of Accounts for Single Entities | 30% | - 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 Transactions | 50% | - 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 Regulations | 10% | - Accounting standards and principles - Elements of financial statements - Conceptual and regulatory framework - Nature and objective of financial accounting |
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.
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The CIMA Fundamentals of Financial Accounting exam blueprint is organized into 4 domains. The first three are:
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.
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
Correct Answer: C 🗳️
Life membership fees payable to a club or society are usually dealt with by:
Correct Answer: A 🗳️
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 $
Correct Answer:
$4500
Which one of the following is an error of original entry?
Correct Answer: A 🗳️
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
Correct Answer: C 🗳️
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