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| Certification Vendor: | CIMA (AICPA & CIMA) |
|---|---|
| Exam Name: | Fundamentals of Financial Accounting |
| Exam Number: | BA3 |
| Certificate Validity Period: | Does not expire |
| Real Exam Qty: | 60 (objective test, MCQs) |
| Available Languages: | English |
| Exam Price: | Varies by region (~£60–£100 per attempt) |
| Passing Score: | 70% |
| Related Certifications: | CIMA Certificate in Business Accounting (Cert BA) |
| Exam Format: | Multiple-choice questions (MCQ), Computer-based objective test |
| Exam Duration: | 120 minutes |
| Recommended Training: | CIMA Certificate in Business Accounting Overview CIMA Study Hub |
| Exam Registration: | CIMA Exam Registration Pearson VUE CIMA Exams |
| 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 |
| Section | Objectives |
|---|---|
| Financial Statements Preparation | - Accruals and prepayments adjustments - Income statement and statement of financial position |
| Accounting Fundamentals and Principles | - Basic accounting concepts and principles - Double-entry bookkeeping system |
| Accounting Adjustments and Controls | - Non-current assets and depreciation - Inventory valuation and adjustments - Errors and suspense accounts |
| Recording Financial Transactions | - Ledger accounts and trial balance preparation - Control accounts and reconciliations |
CIMA Fundamentals of Financial Accounting is an official CIMA (AICPA & CIMA) exam, catalogued under the code BA3. Passing it awards the CIMA Certificate in Business Accounting certification at the Entry Level / Certificate level. It also links to CIMA Certificate in Business Accounting (Cert BA), which broadens its career value. Qualifying exams exist to prove ability in a measurable way, and this one proves yours against the vendor's own standard.
CIMA Fundamentals of Financial Accounting gives you 60 (objective test, MCQs) questions and 120 minutes to answer them. Treat time as a resource to allocate, not a countdown to fear: rehearse full sessions in the ValidDumps test engine, practice skipping and returning, and build the calm familiarity that lets your actual knowledge show up on exam day.
Passing CIMA Fundamentals of Financial Accounting takes 70%, and the official fee is Varies by region (~£60–£100 per attempt). Retakes cost the full Varies by region (~£60–£100 per attempt) again, which makes verified readiness the cheapest insurance there is. Track your ValidDumps practice scores across sessions and book the exam only when clearing the requirement has become your baseline, not your best day.
No formal prerequisites; BA1 and BA2 recommended before BA3 within the CIMA Certificate in Business Accounting pathway.
Since vendor requirements are revised periodically, confirm the current conditions before registering on the official exam page.
Registration for CIMA Fundamentals of Financial Accounting runs through the official channels below.
One scheduling note: the exam is delivered Computer-based exam delivered via Pearson VUE test centres or remote proctoring where available.
CIMA (AICPA & CIMA) recommends the following training for CIMA Fundamentals of Financial Accounting candidates.
Whichever path you choose, reinforce it with the 395 practice questions in the ValidDumps BA3 package, because exam confidence is built by answering, not just reading.
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Your purchase carries a 100% money-back guarantee with defined conditions. Take the CIMA Fundamentals of Financial Accounting exam within 60 days of purchase; if you fail, you can claim a full refund, provided the exam matches your product. Attempts within 3 days of purchase are not eligible, and neither are downloaded-but-unused products, free materials, or expired orders; the candidate name must match the payer name. File with a scanned enrollment slip and the official Score Report PDF within 2 days of the exam, and claims are processed within 7 days. If you prefer, exchange instead: two other exam products of equal value, free, with the update service on your original purchase retained.
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The CIMA Fundamentals of Financial Accounting exam is divided into 4 domains. The most prominent are Accounting Adjustments and Controls, Recording Financial Transactions, and Accounting Fundamentals and Principles. The complete outline is above on this page; candidates who know the map waste far less time getting to the destination.
Question 1
Which of the following would meet the definition of a liability in accordance with the Conceptual Framework's definition?
A. An amount due from a customer for goods dispatched two weeks ago
B. An amount due to a supplier for goods to be purchased in one month's time
C. An amount which was paid to a supplier in relation to a dispute
D. An amount due to a supplier for goods purchased one month ago
Question 2
MM does not maintain complete accounting records The following information is available for the year ended
31 December 20X3.
The mark up on items sold by MM is 20%
What is the figure for purchases to be included in MM's statement of profit or loss for the year ended 31 December 20X3?
A. $59,000
B. $61,500
C. $63,500
D. $61,000
Question 3
After calculating your company's profit for the year, you discover that:
(a) A non-current asset costing £2,000 has been included in the purchases account; the asset has not been included in the closing inventory figure; nor has it been depreciated by the normal 25% per annum (b) Closing inventory of raw materials, costing £500, have been treated as closing inventory of stationery.
These two errors have had the effect of.
A. Understating gross profit by £2,500 and understating net profit by £1,500
B. Understating both gross profit and net profit by £2,500
C. Understating gross profit by £2,000 and understating net profit by £2,500
D. Understating both gross profit and net profit by £1,500
Question 4
Under the normal convention of accounting, assets are shown in the balance sheet at:
A. Their cost value
B. Their current market value
C. The current cost to the firm of replacing them
D. Their economic value to the firm
Question 5
W and Partners has an opening capital balance at 1 January of £14,640 credit.
During the period there was an increase in assets of £6,820 and an increase in liabilities of £5,400.
The balance on the capital account at the end of the period is:
A. £16,060 credit
B. £13,220 credit
C. £1,420 debit
D. £1,420 credit
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: A | Question 4 Answer: A | Question 5 Answer: A |
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