CFA vs CPA: Top 7 Important Differences You Must Know Sections Covered CFA CPA Factors to Consider When Choosing Between CPA and CFA CPA vs CFA CFA vs CPA Examination Syllabus CFA and CPA Examination Structure CFA and CPA Exam Dates CFA vs CPA Career Path CFA vs CPA Salary and Employers Conclusion Schedule a call The diverse world of professional finance and accounting certifications offers you several options. From finance and accounting to investment, you will always find a suitable option, no matter what field you choose. Having options on your plate is undoubtedly good. However, such options can also spawn confusion. Yes, you are not alone in this dilemma. Getting confused between certifications is common among aspiring candidates. One of the most common confusions is between a Chartered Financial Analyst and a Certified Public Accountant. Both courses offer great advantages to their respective holders. Ironically, these benefits make it challenging to choose one over the other. Are you stuck in the never-ending CPA vs CFA program debate?If you are unable to choose a suitable option between CPA and CFA, you need to make a thorough comparison for your career path. Differentiating the two courses based on various aspects is the best way to find which one would suit you the most. Another question is: what factors must be considered? The most common ones include course details, exam structure and dates, syllabus, job opportunities, salaries, employers, and career goals and career opportunities. You can add more factors to the list if you wish. It is no different when choosing between a CFA and a CPA. You must consider and compare all these factors to make an informed decision.This blog is your guide to helping you choose between a CPA and CFA designation. It undertakes a thorough CFA vs CPA comparison. Before delving into the differences, this blog will introduce you briefly to each course. Also, it will list the factors you need to consider when making a choice. Key Takeaways CFA vs CPA Eligibility and Key Differences Factors to Consider When Choosing Between CPA and CFA CFA and CPA Examination Structure CFA vs CPA Career Path CFA CFA is a professional certification awarded by the CFA Institute in the investment area. This program aims to advance your skills and knowledge in the area of investment. The curriculum of the CFA course delves into investment knowledge. It also covers ethical and professional standards, advanced concepts, and functional abilities.CFA charter holders are in high demand in the global investment job market. The expertise these accredited professionals bring to an organization is the main reason why top employers go after them. The significant topics in the CFA course include:Fixed incomeEquity investmentsDerivativesFinancial reportingAlternative investmentsEconomicsPortfolio management CPA The CPA certification by the AICPA offers advanced knowledge and skills in the accounting field. The AICPA conducts a comprehensive evaluation to award the US CPA certification.CPAs are the most trusted financial advisors on the planet. Their job role in a company includes ensuring compliance with tax laws. They also handle accounting-related work. CPAs receive training to oversee financial statements and the overall health of a company. The CPA program involves advanced subjects to train you thoroughly for these responsibilities. Factors to Consider When Choosing Between CPA and CFA Making a career decision is never easy. However, if you stick to certain steps, you can make the right decision. You must consider the following factors when choosing between CFA and CPA certifications:Career AspirationsThe very first and most crucial factor to consider is what you exactly wish to become. Your decision will help you focus on the area you want to operate in. When choosing between a CFA or CPA, you must decide between the investment field and the finance and accounting team. You can do research and talk to your mentors to learn about the specifics of each sector. You can then finalize the field that would be most suitable to drive your career aspirations. Time CommitmentAnother factor to consider when choosing between CFA and CPA is the time you can set aside to pursue the course. The duration of the two courses is different. So, opt for the one that suits you the most.CostYou will have made a smart move if you consider in advance the cost of each program. Budgeting is always paramount. Hence, choose the one you can conveniently afford. It is a no-brainer to say not to choose the course you cannot afford, as you will be overburdened and overpressurized. CPA vs CFA You can find the detailed differentiation between CFA and CPA below:CFA vs. CPA Eligibility and Key DifferencesCFAUndergraduate degree or studying in the final year4 years of relevant work experience or moreCPABachelor’s Degree or higher with 150 credit hours of relevant coursework2 years of relevant work experienceCFA vs. CPA ExaminationCFAThe three levels of the CFA examination are:CFA Level 1CFA Level 2CFA Level 3 CPAThe four parts of the Uniform CPA exam are as follows:Attestation and Auditing (AUD)Financial Accounting and ReportingRegulation (REG)Optional paper (Anyone)Business Analysis and Reporting (BAR)Information Systems and Controls (ICS)Tax Compliance and Planning (TCP)CFA vs CPA Examination Syllabus CFAThe three levels of the CFA exam consist of the following subjects:Ethical and Professional StandardsQuantitative MethodsEconomicsFinancial Statement AnalysisCorporate IssuersEquity InvestmentsFixed IncomeDerivativesAlternative InvestmentsPortfolio Management and Wealth PlanningLevels 1 and 2 consist of all ten subjects. Level 3 contains all except quantitative methods, financial statement analysis, and corporate issuers. CPA Attestation and Auditing Ethics, Professional Responsibilities, and General PrinciplesAssessing Risk and Developing a Planned ResponsePerforming Further Procedures and Obtaining EvidenceForming Conclusions and ReportingFinancial Accounting and Reporting Financial ReportingSelect Balance Sheet AccountsSelect TransactionsRegulationEthics, Professional Responsibilities, and Federal Tax ProceduresBusiness LawFederal Taxation of Property TransactionsFederal Taxation of IndividualsFederal Taxation of EntitiesBusiness Analysis and ReportingBusiness AnalysisTechnical Accounting and ReportingState and Local GovernmentsInformation Systems and ControlInformation Systems and Data ManagementSecurityConfidentiality and PrivacyConsiderations for System and Organization Control (SOC) Engagements Tax Compliance and PlanningTax compliance and planning for individuals and personal financial planningEntity Tax ComplianceEntity Tax PlanningProperty Transactions CFA vs CPA Examination Syllabus CFAThe three levels of the CFA exam consist of the following subjects:Ethical and Professional StandardsQuantitative MethodsEconomicsFinancial Statement AnalysisCorporate IssuersEquity InvestmentsFixed IncomeDerivativesAlternative InvestmentsPortfolio Management and Wealth PlanningLevels 1 and 2 consist of all ten subjects. Level 3 contains all except quantitative methods, financial statement analysis, and corporate issuers. CPA Attestation and Auditing Ethics, Professional Responsibilities, and General PrinciplesAssessing Risk and Developing a Planned ResponsePerforming Further Procedures and Obtaining EvidenceForming Conclusions and Reporting Financial Accounting and Reporting Financial ReportingSelect Balance Sheet AccountsSelect Transactions RegulationEthics, Professional Responsibilities, and Federal Tax ProceduresBusiness LawFederal Taxation of Property TransactionsFederal Taxation of IndividualsFederal Taxation of Entities Business Analysis and ReportingBusiness AnalysisTechnical Accounting and ReportingState and Local GovernmentsInformation Systems and ControlInformation Systems and Data ManagementSecurityConfidentiality and PrivacyConsiderations for System and Organization Control (SOC) Engagements Tax Compliance and PlanningTax compliance and planning for individuals and personal financial planningEntity Tax ComplianceEntity Tax PlanningProperty Transactions CFA and CPA Examination Structure CFACFA Level 1: 180 MCQsCFA Level 2: 22 Vignettes supporting 44 MCQsCFA Level 3: 12 Vignette sets and 10 essay sets, or vice versaAll these levels have two equal sessions with an optional break in between. CPAThe four parts of the CPA exam include the following types of questions:Multiple-choice questionsTask-based simulationsWritten communication task CFA and CPA Exam Dates CFACFA Level 115–21 May 202420–26 August 202413–19 November 2024CFA Level 222–26 May 202427–31 August 202420–24 November 2024CFA Level 316–19 August 2024Click here for detailed information. CPA10 January–26 March 20241 April–25 June, 20241 July–25 September 20241 October–26 December 2024You can get detailed information here. CFA vs CPA Career Path CFAEquity Research AnalystCredit AnalystFinancial AnalystEquity Research AssociateCorporate Financial AnalystAuditorConsultantPortfolio ManagerSenior Financial AnalystCPAPublic AccountantCFOFinance AnalystFinance ManagerTax AnalystTax ManagerInternal Auditor CFA vs CPA Salary and Employers CFACFAs are widely employed by top firms all around the world. The typical salary of a CFA in India starts at INR 6 LPA.(https://www.payscale.com/research/IN/Certification=Chartered_Financial_Analyst_(CFA)/Salary)CPATop employers and the Big 4 hire CPAs. The typical wage of CPAs in India is around INR 7 LPA.(https://www.payscale.com/research/IN/Job=Certified_Public_Accountant_(CPA)/Salary) Conclusion Both CFA and CPA training courses are the very best chances to improve your career in the finance and accounting fields. Thus, a CFA vs. CPA comparison concludes that both courses are perfect for you. Nevertheless, you have to select the one you find most appropriate and good for yourself. Think about your career aspirations, time availability, and finances before selecting your path. Once you choose the course you believe is fit, all you have to do is begin preparations for the examination and pass it with an impressive score. Preparing for competitive examinations can get pretty complicated and confusing. Nevertheless, it can be made easier if you select the best coaching institute for preparation guidance. So, no matter what you choose between CFA and CPA, NorthStar Academy is your destination to start preparing for the respective exams the right way. Our mentor, M. Irfat Sir, along with other experts, ensures you get the right education to achieve your dreams in the shortest amount of time. Contact us on WhatsApp to learn about our CFA and CPA courses in detail. Frequently Asked Questions Can a CFA work as an accountant? Yes, CFAs can work as accountants. Top organizations prefer CFAs as accountants over non-certified professionals. CFAs can also fill positions as chief investment officers, auditors, credit analysts, and data scientists. Which is tougher, CFA or CPA? The passing rate of CFA is considerably lower than CPA. Therefore, CPA is considered to be easier than CFA. Which is more in demand, CPA or CFA? Both CFAs and CPAs are increasing in demand. Leading companies all over the world are expected to hire these professionals. CFAs and CPAs are handsomely reimbursed for their advanced skills and knowledge.
