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CIMAPRA17-BA3-1 Exam Questions
- Topic 1: Accounting Principles, Concepts and Regulations: This topic requires you to master the fundamental principles and concepts of financial accounting. Focus on understanding how the regulatory framework shapes financial reporting practices, which is critical for accurate and compliant accounting. This knowledge is essential for the CIMAPRA17-BA3-1 exam, where aspiring CIMA business accountants will be expected to apply these principles in practical scenarios.
- Topic 2: Recording Accounting Transactions: In this topic, business accountants will learn to accurately prepare accounting records and reconciliations, vital for ensuring the integrity of financial data. Understanding how the regulatory framework impacts these records is also crucial. This will prepare you for exam questions focused on transaction recording and compliance.
- Topic 3: Preparation of Accounts for Single Entities: This CIMA CIMAPRA17-BA3-1 exam topic covers the preparation of accounting records, manufacturing accounts, and financial statements for a single entity. Mastery here is the key for the exam, as you will be tested on your ability to compile accurate financial statements from raw data, a critical skill for business accountants.
- Topic 4: Analysis of Financial Statements: In this topic, the CIMAPRA17-BA3-1 exam focuses on identifying and calculating basic accounting ratios, which are essential for financial analysis. Understanding these ratios will enable you to interpret financial statements effectively, a crucial skill that the CIMA BA3 - Fundamentals of Financial Accounting exam will assess.
Free CIMA CIMAPRA17-BA3-1 Exam Actual Questions
Note: Premium Questions for CIMAPRA17-BA3-1 were last updated On Aug. 17, 2025 (see below)
Under the normal convention of accounting, assets are shown in the balance sheet at:
A company uses the straight line method of depreciation for its plant and machinery. Depreciation is at a rate of 20% per annum.
A major item of machinery was purchased in 2003 at a cost of $240,000. At the time, it was estimated that the plant had an estimated useful life of five years and a residual value at the end of its useful life of $20,000.
As a result of rapid changes in technology it was decided to sell the machinery in 2006 for $80,000. It is the company's policy to charge a full year's depreciation in the year of acquisition and none in the year of disposal.
What was the profit/loss arising on the disposal of the asset?
There are four separate but related bodies which control the setting of International accounting standards (IFRS's).
Which THREE of the following are included in the standard setting process?
The owner of a business takes goods from inventory for his own personal use
Which of the following accounting concepts would be relevant to this transaction?
A trial balance should be extracted from the ledger accounts prior to preparing the final accounts because:
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