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There is no waiting for shipping with Fast2test. Once you pay, your BA3 package for the CIMA Fundamentals of Financial Accounting lands in your inbox within a minute, ready to download and put to work the same evening.
CIMA BA3 Exam Overview:
| Certification Vendor: | CIMA (AICPA & CIMA) |
|---|---|
| Exam Name: | Fundamentals of Financial Accounting |
| Exam Number: | BA3 |
| Passing Score: | 70% |
| Certificate Validity Period: | Does not expire |
| Exam Price: | Varies by region (~£60–£100 per attempt) |
| Available Languages: | English |
| Real Exam Qty: | 60 (objective test, MCQs) |
| Exam Format: | Multiple-choice questions (MCQ), Computer-based objective test |
| Exam Duration: | 120 minutes |
| Related Certifications: | CIMA Certificate in Business Accounting (Cert BA) |
| Recommended Training: | CIMA Study Hub CIMA Certificate in Business Accounting Overview |
| Exam Registration: | CIMA Exam Registration Pearson VUE CIMA Exams |
| Sample Questions: | CIMA BA3 Sample Questions |
| Exam Way: | Computer-based exam delivered via Pearson VUE test centres or remote proctoring where available |
| Pre Condition: | No formal prerequisites; BA1 and BA2 recommended before BA3 within the CIMA Certificate in Business Accounting pathway. |
| Official Syllabus URL: | https://www.aicpa-cima.com/cimaexams |
CIMA BA3 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Recording Financial Transactions | - Control accounts and reconciliations - Ledger accounts and trial balance preparation |
| Financial Statements Preparation | - Income statement and statement of financial position - Accruals and prepayments adjustments |
| Accounting Adjustments and Controls | - Errors and suspense accounts - Non-current assets and depreciation - Inventory valuation and adjustments |
| Accounting Fundamentals and Principles | - Double-entry bookkeeping system - Basic accounting concepts and principles |
Everything You Want to Know About the CIMA Fundamentals of Financial Accounting (BA3) Exam
The BA3 exam, officially titled Fundamentals of Financial Accounting, is the CIMA exam you pass to earn the CIMA Certificate in Business Accounting certification, a credential at the Entry Level / Certificate level. Passing it confirms the skills defined in the official exam outline, and it is associated with related credentials such as CIMA Certificate in Business Accounting (Cert BA).
The BA3 exam includes 60 (objective test, MCQs) questions and gives you 120 minutes to finish them. That is a tight pace per question, so get used to reading each stem once, flagging anything uncertain, and moving on rather than getting stuck. Running timed practice tests in the Fast2test desktop or online test engine is the most reliable way to build that rhythm before exam day.
The passing score for the BA3 exam is 70%, and the official registration fee is Varies by region (~£60–£100 per attempt). Keep in mind that a failed attempt means paying Varies by region (~£60–£100 per attempt) again in full to retake it, so book your slot only when your scores on Fast2test practice tests sit consistently above the passing line.
CIMA lists the following prerequisites or eligibility notes for the BA3 exam: No formal prerequisites; BA1 and BA2 recommended before BA3 within the CIMA Certificate in Business Accounting pathway.. Requirements can change over time, so confirm the details on the official exam page at CIMA's official site before you register.
You can register for the BA3 exam through the official channels below:
The exam is delivered in the following format: Computer-based exam delivered via Pearson VUE test centres or remote proctoring where available. Choose a date that leaves you enough time to work through the full 395-question practice set first.
CIMA recommends the following training resources for BA3 candidates:
Official courses build the theory, and the 395 practice questions from Fast2test help you turn that theory into exam-ready speed and accuracy.
Yes. Fast2test offers a free PDF demo of the BA3 material, so you can check the question style and answer quality before purchasing. Every purchase also includes 365 days of free updates, and if your product expires you can extend the update service at a 50% discount from your member zone.
Your purchase is protected by a 100% Money Back Guarantee with clear conditions: if you take the corresponding BA3 exam within 60 days of purchase and do not pass, you can apply for a full refund. The candidate name must match the payer name, and you need to submit a scanned exam enrollment slip together with the official Score Report PDF within 2 days of taking the exam; claims are processed within 7 days. Sitting the exam within 3 days of purchase, downloading without taking the exam, free materials, and expired orders are not covered. If you would rather not take a refund, you can exchange your order for two free exam products of equal value and keep the update service on your original purchase.
Delivery is instant: your download links are emailed within one minute of payment, and you can also download directly from the website. If nothing arrives within 2 hours, contact customer service and check your spam folder. There is no limit on how many computers you can install the material on.
The BA3 exam blueprint is divided into 4 domains, starting with Recording Financial Transactions; Financial Statements Preparation; Accounting Adjustments and Controls. For the complete domain-by-domain breakdown, see the Exam Topics section above — it lists every topic the current outline covers.
CIMA Fundamentals of Financial Accounting Sample Questions:
Question 1
Refer to the Exhibit.
Soffit plc is calculating its irrecoverable debt charge and allowance for receivables for inclusion in its year-end accounts. Based on an aged receivables schedule, it is estimated that an allowance for receivables of $125,820 is required.
In addition, a specific allowance for receivables of $18,640 is also required for two customers who are experiencing cash flow difficulties. There are also two customers who have gone into receivership while owing the company $6,300. The current allowance for receivables is $156,000.
Which is the correct entry to be made to the accounts to record these transactions?
A. A
B. B
C. D
D. C
Question 2
An external audit is an independent examination of, and expression of opinion on the financial statements of an entity.
Who of the following appoints the external auditor?
A. Shareholders
B. Finance director
C. Chief operating officer
D. The Board
Question 3
Cost of goods sold for a manufacturing company is the total of
A. prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress
B. prime costs + production overheads - opening work in progress + closing work in progress - opening inventories of finished goods + closing inventories of finished goods
C. prime costs + production overheads + opening work in progress - closing work in progress + opening inventories of finished goods - closing inventories of finished goods
D. prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress + opening inventories of finished goods
- closing inventories of finished goods
Question 4
IAS 2 Inventories does not permit the use of the last in. first out (LIFO) method of valuing inventory In a time of rising prices, which of the following is a reason for this?
A. Gross profit is overstated
B. Closing inventory is understated.
C. Purchases are overstated
D. Cost of sales are understated
Question 5
Which of the following transactions would be classified as a revenue transaction?
A. Issue of share capital
B. Payments made to trade payables
C. Purchase of inventory for resale
D. Purchase of plant and machinery
Solutions:
| Question 1 Answer: B | Question 2 Answer: A | Question 3 Answer: C | Question 4 Answer: B | Question 5 Answer: C |
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