- Professional bodies involved: CPA is offered by the biggest accounting body in the world AICPA, whereas CFA is offered by CFA institute
- Number of papers: There are four papers in CPA ( FAR, AUD, BEC, REG), whereas there are three levels to CFA exam ( Level 1, 2,3)
- Exam months: CPA can be written in any month, whereas CFA exam can be written in June ( L1,2,3) and December( L1)
- Eligibility: Graduation is a must in both CPA and CFA. However, post-graduation is required in case of license ( to practice in the US), graduation can be waived off in CFA incase four years of work experience is there. He can sit for the L1 exam if he is in the final year of graduation, but for L2- Graduation is must
- Duration: CPA on an average takes 12 months to complete, but CFA takes on an average two years
- Course fees: CPA takes an average of 4 Lakhs INR, whereas CFA takes 2 -3 lakhs INR
- Career: CPA make their career in Financial accounting and reporting, taxation, FP&A, business planning, whereas CFA make their career in Financial advisor, portfolio manager, research analyst
- Training institutes: Currently, there are many institutes that provide both CPA and CFA training, mainly Simandhar education, Wiley, Gliem, and EduPristine, etc.
- Which is better: No professional qualification can compete against each other, it entirely depends on the interest of the aspirant and the career they want to build in future, if your interest is towards Equity research - CFA is better but if your interest is towards Corporate finance, Business finance- CPA would be a good option, considering the way outsourcing companies are setting up in India, CPA definitely would have a slightly upper edge in case of job opportunities in India.
The above article is to help you decide whether you should go for a CPA or a CFA . If you have any queries, feel free to comment in the section below. Happy Learning!
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