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CIMA BA3 Exam Syllabus Topics:

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

CIMA Fundamentals of Financial Accounting Sample Questions:

Entity HJ is a small business. In the period. Entity Hj earned revenue of £24,300, had opening inventories of
£1,500 and closing inventories of £8,000. Purchases came to £13,200.
What was Entity Hj's gross profit or loss for this period?

  • A. £6,700 profit
  • B. £6,700 loss
  • C. £17,600 loss
  • D. £17,600 profit
  • E. £31,000 profit
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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. Chief operating officer
  • B. Shareholders
  • C. The Board
  • D. Finance director
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Refer to the exhibit.

The bookkeeper of Joshua Ltd has absconded with the petty cash. The following was available:
How much has the bookkeeper stolen during the year?

Reveal Solution  Discussion  0

Correct Answer:

£7213

The issue of a company's shares for more than their normal value results in the creation of a

  • A. General reserve.
  • B. Share premium account.
  • C. Suspense account.
  • D. Goodwill account.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Refer to the Exhibit.

A company operates a FIFO system of inventory valuation. Opening inventory at the beginning of the period was 200 units @ £2.80 each. During the period the following movements of inventory were recorded.
The value of the closing inventory at the end of the period and amount charged to the income statement were:

  • A. Closing inventory £360.00 Income statement £1695.00
  • B. Closing inventory £357.50 Income statement £1897.50
  • C. Closing inventory £360.00 Income statement £2255.00
  • D. Closing inventory £360.00 Income statement £1895.00
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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