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Short on prep time? Actual4Labs provides actual CIMA Fundamentals of Financial Accounting practice questions to help you conquer the BA3. Updated for 2026, our material ensures you study smarter, not harder.
| Certification Vendor: | CIMA (AICPA & CIMA) |
|---|---|
| Exam Name: | Fundamentals of Financial Accounting |
| Exam Number: | BA3 |
| Available Languages: | English |
| Real Exam Qty: | 60 (objective test, MCQs) |
| Passing Score: | 70% |
| Exam Price: | Varies by region (~£60–£100 per attempt) |
| Certificate Validity Period: | Does not expire |
| Related Certifications: | CIMA Certificate in Business Accounting (Cert BA) |
| Exam Duration: | 120 minutes |
| Exam Format: | Multiple-choice questions (MCQ), Computer-based objective test |
| Recommended Training: | CIMA Study Hub CIMA Certificate in Business Accounting Overview |
| Exam Registration: | Pearson VUE CIMA Exams CIMA Exam Registration |
| Sample Questions: | DOWNLOAD DEMO |
| 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 Adjustments and Controls | - Errors and suspense accounts - Non-current assets and depreciation - Inventory valuation and adjustments |
| Recording Financial Transactions | - Ledger accounts and trial balance preparation - Control accounts and reconciliations |
| Accounting Fundamentals and Principles | - Double-entry bookkeeping system - Basic accounting concepts and principles |
The BA3 exam is a core requirement for the CIMA Certificate in Business Accounting certification at the Entry Level / Certificate level. Earning this validates your skills for credentials like CIMA Certificate in Business Accounting (Cert BA).
Candidates will face 60 (objective test, MCQs) questions and have 120 minutes to complete the exam. This means you need strict time management. We strongly recommend taking timed practice tests to ensure you can maintain a steady pace without rushing when under actual exam time pressure.
The official examination fee is Varies by region (~£60–£100 per attempt), and you must achieve a score of 70% to pass. Since retaking the test requires paying the full fee again, utilizing accurate practice materials for thorough self-assessment beforehand is crucial to protect your investment.
Candidate requirements include: No formal prerequisites; BA1 and BA2 recommended before BA3 within the CIMA Certificate in Business Accounting pathway.. Please verify all eligibility details on the official certification page before scheduling your appointment.
Registration is handled through official testing partners. The exam is delivered via Computer-based exam delivered via Pearson VUE test centres or remote proctoring where available. You can sign up here:
The vendor suggests following official learning paths to build a foundational understanding:
Once you complete your training, use the 395 practice questions from Actual4Labs to refine your exam readiness.
Absolutely. A free PDF demo is available for you to evaluate the quality of our questions. Once purchased, you receive 365 days of free updates. If your access expires, you can renew it at a 50% discount to keep your materials current.
Your BA3 practice materials are delivered instantly. You can download them right away, and a copy will be sent to your email within one minute (contact support if not received in 2 hours). You can install the software on an unlimited number of computers. We also offer a 100% Money Back Guarantee: if you fail the corresponding exam within 60 days of purchase, you can claim a full refund. To apply, submit your enrollment slip and official Score Report PDF within 2 days after taking the test (processing takes up to 7 days). Note: failures within 3 days of purchase, downloaded but unattempted exams, free materials, and expired orders are excluded. The payer's name must match the candidate's name. Alternatively, you can exchange your order for two free exams of equal value and keep the original product's updates.
The syllabus is divided into 4 main domains. Key areas include "Financial Statements Preparation", "Accounting Fundamentals and Principles", "Recording Financial Transactions". For a comprehensive breakdown of all measured skills, please review the complete exam outline table provided above.
Question 1
Which of the following statements about revenue is CORRECT?
A. Revenue is claimed when earned, not received
B. Revenue cannot be claimed until the end of the period
C. Revenue is claimed when received, not earned
D. Revenue is never earned
Question 2
Which TWO of the following are principles of the Integrated Reporting Framework?
A. Forward-looking
B. For entity's internal use
C. Rules-based
D. Focus solely on financial KPIs
E. Reports on governance
Question 3
Refer to the Exhibit.
A business has three non-current assets.
(i) Asset 1 will be used to manufacture components over a 4 year period, after which it will be scrapped; the total contract is for 1 million components, to be produced in different quantities each year.
(ii) Asset 2 is a motor car for a director; it is expected to be kept for 3 years, and will travel 20,000 miles each year.
(iii) Asset 3 is a mobile truck used for transporting goods around the factory; it is expected to be kept for 20 years.
Which one of the following combinations of depreciation methods, would be most reasonable for the above three assets?
The answer is:
A. Option A
B. Option B
C. Option C
D. Option D
Question 4
Refer to the exhibit.
The following book-keeping errors were discovered:
1. A cheque for £900 received from a receivable, after deduction of 10% cash discount, had been correctly entered in the bank account and discounts allowed accounts, but only the actual amount received had been entered in the receivable's account
2. An invoice for £940, including VAT at 17.5%, had been correctly recorded in the purchases and VAT accounts, but only the net goods value had been entered into the payable's account.
Which of the following options provides the entries necessary to correct the above errors?
The answer is:
A. Option A
B. Option B
C. Option C
D. Option D
Question 5
The formula for calculating payables days is
A. payables divided by cost of goods sold x 365
B. payables divided by purchases x 365
C. cost of goods sold divided by payables x 365
D. purchases divided by payables x 365
Solutions:
| Question 1 Answer: A | Question 2 Answer: A,B | Question 3 Answer: B | Question 4 Answer: B | Question 5 Answer: B |
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