CFA vs CA

CFA focuses on investment management and covers topics in finance like corporate finance, ethics, equity investments, derivatives, and fixed income while preparing you for careers in investment banking, research, and portfolio management. In contrast, CA focuses on accounting, taxation, and auditing and prepares you for careers in budgeting, accounting & auditing, and management accounting.

Choosing between these two tough career options may be very confusing. But since your entire career depends on this decision, perhaps a little information can help you decide.

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The CFA® program focuses on investment management. The top employers include the most respected financial corporations globally like JPMorgan, Citigroup, Bank of America, Credit Suisse, Deutsche Bank, HSBC, UBS, and Wells Fargo.

Many of these are top investment banks, but the CFA® program focuses on the knowledge and skills most relevant to the global investment management profession from a practitioner's standpoint.

Investment professionals who hold the CFA® designation (or CFA® charter) must meet rigorous educational and work experience and ethical conduct requirements.

Only those who complete three graduate-level examinations, four years of work experience, and the annual membership renewal (including Ethics and Code of Professional Conduct Attestation) are permitted to use the CFA® designation. In addition, complementary codes and standards (such as the Global Investment Performance Standards and Asset Manager Code) help enhance this profession’s distinction.

CA is an internationally recognized profession, and a Chartered Accountant can work in all fields of business and finance, for example, taxation, auditing, and general management. In addition, CAs can be employed by government bodies and public and private sector companies. In short, skilled CAs are always in demand in all industries. To become a qualified CA, candidates must qualify for different examinations and a rigorous training process.

A CA can manage financial accounts for an organization, be it tax accountant, management accountant, budget analyst, and of course, the most interesting of all, auditor. The international recognition of this degree gives you the ability to even work abroad under this qualification. The Chartered Accountants' Institute encourages members to undertake a minimum level of continuing professional development to remain professionally competitive.

#1 - CFA® Requirements

• You can appear for CPT after clearing your 12th or directly take up the intermediate exam after you complete your graduation to enter a profession.
• The CFA® program needs to be completed by mastering the latest syllabus and clearing 3 to 6 hourly examinations.
• It is important to become a member of the CFA® institute, along with registering as a member of your local CFA® member's society.
• Most importantly, you need to adhere to the code of ethics and standard of professional conduct of the CFA® institute.

#2 - CA Requirements

1. To enter a profession, you can appear for CPT after clearing your 12th or directly take up the intermediate exam after you complete your graduation.
2. The intermediate exam is divided into two groups to be cleared after completing the IPC level's first group. The candidate needs to undergo training as an article assistant for a minimum of 3 years in a chartered firm.
3. During the third year of training, the trainee can also work in the industry before appearing for the finals.
4. Before being articled, the trainee also has to complete a 100 hour IT training and soft skills development orientation program.

The differentiating benefits of earning a CFA® designation include

• Real-world expertise
• Career recognition
• Ethical grounding
• Global community
• Employer demand

The sheer demand for the CFA® charter speaks to the difference it makes.

More than 245,000 global candidates registered for the June 2020 CFA® exams scheduled to be held in 193 cities across 95 different countries.

CA gives you the flexibility to work in all industries as an auditor, accountant, or budget analyst. These candidates can offer their services in the capital market as well. They can set up their practice and develop their clients; they can also work in a CA firm or join companies that can be government, private, and public sectors. CAs can practice this course internationally and are in demand in the manufacturing and finance industry. They do not necessarily need to work on excel sheets, calculations, numbers, and number crunching. They can also work as auditors and increase the company's profitability.

These credentials are of the highest weightage in the accounting and finance industry. Both of which will require dedication and sincere efforts to get through. Whatever you choose, we wish you the very best :-)

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This has been a guide to CFA vs. CA. Here we discuss the top differences between CFA and CA professions and their exam requirements. Do we also discuss why to pursue them? You may also have a look at the following articles –

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