CIMA BA3 Exam : Fundamentals of Financial Accounting

  • Exam Code: BA3
  • Exam Name: Fundamentals of Financial Accounting
  • Updated: Jul 16, 2026
  • Q & A: 395 Questions and Answers

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CIMA BA3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Analysis of Financial Statements10%- Calculate basic financial ratios
- Interpret accounting ratios and performance
Topic 2: Preparation of Accounts for Single Entities30%- Prepare financial statements from trial balance
- Adjustments and inventory/cost of sales entries
Topic 3: Accounting Principles, Concepts and Regulations10%- Regulatory and conceptual framework
- Principles and concepts of financial accounting
Topic 4: Recording Accounting Transactions50%- Prepare accounting records
- Reconciliations and control accounts
- Record transactions using double-entry bookkeeping

CIMA Fundamentals of Financial Accounting Sample Questions:

1. Which of the following transactions would be classified as a revenue transaction?

A) Issue of share capital
B) Purchase of plant and machinery
C) Purchase of inventory for resale
D) Payments made to trade payables


2. GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

A) The float total of $250.
B) The difference between the float and total spend of $65
C) The total spend of $185
D) The total of the float and total spend of $435


3. DEF has the following equity balances at 1 June 20X7.

On 30 June 20X7 DEF issued 200.000 new shares at their full market price of $1 75.
What are the equity balances of DEF after issuing these shares?
A)

B)

C)

D)

A) Option D
B) Option B
C) Option A
D) Option C


4. A contra entry is best described as:

A) An entry made between two customers in the purchase ledger
B) An entry made to balance the control account
C) An entry made between two customers in the sales ledger
D) An entry made to set off the balances of the same account within the sales ledger and the purchase ledger


5. Refer to the Exhibit.

Which of the following would be shown in the trial balance for the bank ledger account?

A) $20 Credit
B) $20 Debit
C) $1,070 Credit
D) $1,070 Debit


Solutions:

Question # 1
Answer: C
Question # 2
Answer: C
Question # 3
Answer: C
Question # 4
Answer: D
Question # 5
Answer: B

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