Some claim that CFA is harder than ACCA as only one in five candidates who enroll in the course successfully completes it. 3 Furthermore, it takes 4 years to complete the course vs. the 3 to 4 years more typiucal of the ACCA student. And if you check the syllabus, CFA is indeed a “longer” qualification than ACCA. Although both CFA and CPA have some similarities in what they do, a CPA has more difficult responsibilities.

CFA vs. CPA – Which is Harder?

Anyone who has sat a CFA exam would know this is not possible, CFA requires countless hours of study. In contrast, ACCA is the best option for you if you want to work in the field of accounting, financial management, auditing, and taxation. It’s also ideal if you enjoy putting internal controls in place, preparing accounts, and running a finance and accounting division or a large corporation.

Aspirants have to clear a six-hour examination to be able to get a certificate from the CFA Institute. Once the exams are cleared, students can apply for a CFA membership and get registered with their local CFA society. This article covers all the aspects that you need to consider before making any decision. But first, it is important to understand each profession separately. Both are high-paying jobs, provide great perks, and are one of the most demanding and fascinating careers in the corporate world. Therefore, it is best to understand both courses before making any decision.

CFA vs ACCA: Salary

The first exam is done within 3 months of completing your ‘honours’ degree (a post-graduate accounting specialization), the 2nd exam 18 months after that. The first set of exams consists of 2 papers of 5 hours each on consecutive days and the 2nd set consists of 1 paper of 5 hours. For instance, CFA charter holders are exempted from taking ACCA’s Financial Accounting (FA) exam. FA is one of the mandatory papers for ACCA at the Applied Knowledge level. Best For Accounting professionals who want to advance their career; People who love challenges and have a perseverance attitude as ACCA exams are one of the most difficult exams worldwide to compete in. This multi-tier certification program mainly focuses on knowledge areas related to taxation, accounting, and auditing.

Make the right choice with CFA® Program

However,  there are waivers from other regulatory bodies, professional certifications, and global examinations after passing the CFA level 1 examination. Both qualifications cater to different finance and accounting roles, so it’s impossible to say one is better. The Level 3 CFA exam tests your knowledge of macroeconomics, corporate finance, capital markets, and derivatives.

1. Highest packages is for CFA specializing in Investment Banking Industry with a decent amount of work experience, here the salary is north of USD $100,000 plus bonuses.
2. Typically corporate finance (WACC , IRR) would be integrated with the costing question (make/buy decision; standard cost etc).
3. In this case, it’s best to use lateral hiring to move into more relevant jobs over time; you could also focus on S&T or markets-facing jobs for a higher chance of making the change.
4. Developing investment portfolios involves using sophisticated portfolio management software to run simulations and models on historical data to determine which portfolio would have performed best over a given period.
5. If a 39 yr old man with average intelligence and lotsa hard work can reach level III, you certainly can do it.

The workload of a certified public accountant often ends up being harder than that of an investment analyst because of the many details that must be considered. A variety of requirements must be met to become a CFA charter holder, such as having a bachelor’s degree, passing the three CFA exams, completing an internship, and gaining a certain amount of work experience. Additionally, the CFA Program is designed to be a continuous learning experience that spans a candidate’s entire career. The CFA designation is designed to demonstrate a strong foundation in advanced investment analysis and portfolio management, accompanied by a strict emphasis on ethical practice. The predecessor of the CFA Institute, the Financial Analysts Federation (FAF), was established in 1947 as a service organization for investment professionals.

Within deal-based roles, the CFA has its uses for certain candidates and in certain regions – but it still wouldn’t make my is cfa harder than ca “Top 5 Things to Do to Get into Investment Banking” list. In fields outside IB/PE, the CFA ranges from “potentially useful” to “near requirement,” so it’s impossible to make a universal statement about its relevancy. For example, if you’ve worked in corporate law for several years and cannot quit to complete an MBA, the CFA could be a helpful signaling tool. Especially in many emerging markets, certifications like the CFA or CA (Chartered Accountant) can be more valuable. You need early finance internships in university to put yourself in the running for an internship at a large bank later, as the recruiting timeline starts ridiculously early. In this field, certifications barely matter vs. work experience, academics, interview preparation, and networking.

“But I’m a career changer! I can’t do another degree or an MBA, so I need the CFA to get in.”

The Chartered Financial Analyst (CFA) program is a professional designation that shows your commitment to the financial industry, such as asset management, portfolio management, and equity analysis. It’s one of the world’s most prestigious and recognized certifications, and it’s a must-have for any aspiring investment professional. I do not know how it compares to CA in terms of difficulty.It certainly has some overlap in topics like financial accounting but the rest is different. People from diverse educational backgrounds such have passed all levels, so it should be possible for CA final student. ‍CFA-certified professionals are highly skilled, allowing them to work in top positions in finance companies.

One of the duties of a Chartered Financial Analyst (CFA) is to create and maintain a variety of investment portfolios, including stocks, bonds, mutual funds, commodities, and more. The goal is to create a portfolio that will achieve the highest return with the lowest risk possible. Include questions about how changes in interest rates, inflation, and unemployment affect the business environment and how those changes affect a company’s financial statements. Generally speaking, CPA exams are more rigorous and demanding and you’ll need a considerable amount of professional credit hours before you obtain your license. In the US, you must pass a three-tier examination process to become a Certified Financial Analyst (CFA). It is distinct from the Chartered Financial Analyst professional qualifications offered by CFA Institute in the UK, Ireland, India, and Africa.

1. Auditing is another important responsibility because it helps prevent fraud within companies or organizations by conducting financial analysis and identifying any financial discrepancies or irregularities.
2. It also requires people to study both current and historical financial information because, as we know, this sector constantly changes.
3. Being at the top of your game in either field will bring you a lot of respect in society.
4. Let’s prove this by numbers as the total asset management industry in the world is at around USD $70 Trillion.

They can also work with investments, portfolio management, and financial markets (debts, derivatives, and equity). I am a certified public accountant and am currently a regular member in good standing with the CFA Institute who has passed all 3 levels of the exam. Having been through both programs, I can tell you that CFA is more rigorous, certainly. But I believe its improper to compare the level of difficulty simply by looking at how many CFA charterholders there are as compared to how many CPAs there are in the world (or lets just limit it to the US for now).

All we need are to know our goals and do our best to obtain our goals. Auditing is another important responsibility because it helps prevent fraud within companies or organizations by conducting financial analysis and identifying any financial discrepancies or irregularities. Developing investment portfolios involves using sophisticated portfolio management software to run simulations and models on historical data to determine which portfolio would have performed best over a given period. If you’re in the accounting field, you’ve probably heard of both the CPA (Certified Public Accountant) and CFA (Chartered Financial Analyst) designations. Both are well-respected credentials that can open doors and lead to career advancement.