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US CPA vs CFA comparison, benefits of CPA vs CFA, CFA vs CPA career opportunities
👤 NorthStar Academy📅 13 Mar, 25⏱ 10 min read

US CPA vs CFA: Which Certification is Better in 2027?

Although traditional courses do play a significant role in your higher education, they are no longer enough. You need a lot more than the theoretical knowledge you gain through these courses. This is why experts emphasize the significance of professional certification courses. Students and professionals are continuously moving towards pursuing these qualifications for better earning potential and learning. 

Two of these courses are the US CPA and CFA Charter. Although there are several differences between US CPA and CFA designations, numerous individuals get confused between the two. 

The diverse world of certification courses presents several options. All these courses cater to different areas within the finance and accounting field. However, you might still get confused between two or more courses. This is where you need to thoroughly compare the courses. A significant number of aspirants get confused between two of the most popular certifications- US CPA and CFA programs. You must understand the differences between CFA and CPA if you are confused about which career path to choose. The US Certified Public Accountant course is more known and talked about. But does this mean that becoming a CPA may be better than becoming a CFA?

When considering whether to pursue the CFA or CPA, professionals should evaluate their career goals and interests in finance versus accounting. The pass rate for the CFA exam is typically lower than that of the CPA exam, reflecting the rigorous nature of the material covered.

A CFA Charterholder is recognized for their expertise in investment management, making them highly sought after in the finance industry. The average salary for CFA Charterholders is often higher than that of many other financial professionals, particularly those focused on investment analysis. Specializing in investment management through the CFA program can lead to rewarding career opportunities in asset management and financial advisory services.

Continue reading this guide to find an answer to the above question. This blog is a thorough comparison between the US CPA and CFA Charterholders. It will help you understand which is the better one. So, start reading below to make the right career choice.

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US Certified Public Accountant Vs Chartered Financial Analyst

The best way to find out if US CPA is better than CFA is through a detailed comparison between the two courses. This comparison must be based on varying aspects like their exam structure and eligibility. Below is a detailed comparison for your better understanding. 

What is a US CPA?

The US CPA certification via the AICPA is well-appreciated within the global market. The AICPA conducts the Uniform CPA Examination to provide it. Finance and accounting aspirants choose this course to become globally qualified. The US CPA course is the most popular one for global opportunities. It primarily aims to introduce you to taxation and generally accepted accounting principles. This course is your perfect tool to gain advanced accounting skills and knowledge. 

What is CFA Program?

CFA is also a globally recognised certification course. However, it does not focus on accounting. Instead, this course focuses on the domain of financial analysis. The Chartered Financial Analyst course offers advanced knowledge in this field. It helps furnish practical skills. The CFA Institute offers this course to help you ace in the global investment field. 

Eligibility

US CPA

  • 150 credit points

  • Two years of relevant work experience

CFA

  • Bachelor's Degree 

  • Four years of relevant work experience or more

The Process to Become a CPA and a CFA Charterholder

US CPA

The state's Board of Accountancy provides the CPA license after you gain the certification from AICPA. You must possess 150 credit points for the CPA exam. It is a four-section exam. You must pass this examination to gain your certification. Additionally, you require two years of work experience for this certification. 

CFA

A bachelor's degree is a primary requirement to attempt the CFA examinations. The CFA Institute provides this certification after you pass its three-level examination. Also, you must have four years of work experience for it.

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CPA and CFA Exam Syllabus

US CPA

Attestation and Auditing (AUD)

  • Ethics, Professional Responsibilities and General Principles

  • Assessing Risk and Developing a Planned Response

  • Performing Further Procedures and Obtaining Evidence

  • Forming Conclusions and Reporting

Financial Accounting and Reporting 

  • Conceptual Framework

  • Standard-Setting

  • Financial Reporting

  • Select Financial Statement Accounts

  • Select Transactions

  • State and Local Governments

Regulation (REG)

  • Ethics, Professional Responsibilities and Federal Tax Procedures

  • Business Law

  • Federal Taxation of Property Transactions- 1

  • Federal Taxation of Individuals

  • Federal Taxation of Entities (including tax preparation)

Optional paper (Any one)
Business Analysis and Reporting (BAR)

  • Business Analysis

  • Technical Accounting and Reporting

  • State and Local Governments

Information Systems and Controls (ICS)

  • Information Systems and Data Management

  • Security, Confidentiality and Privacy

  • Considerations for System and Organization Controls (SOC) Engagements

Tax Compliance and Planning (TCP)

  • Tax Compliance 

  • Planning for Individuals 

  • Personal Financial Planning

  • Entity Tax Compliance

  • Entity Tax Planning

  • Property Transactions (disposition of assets)

CFA

  • Ethical and Professional Standards

  • Quantitative Methods

  • Economics

  • Financial Statement Analysis

  • Corporate Issuers

  • Equity Investments

  • Fixed Income

  • Derivatives

  • Alternative Investments

  • Portfolio Management and Wealth Planning

Levels 1 and 2 of the CFA exam include all these subjects. However, only seven subjects are included in Level 3. It does not have Quantitative methods, Financial statement analysis, or Corporate issuers.

CFA and CPA Exams Structure

US CPA Exams

Each section of the Uniform CPA examination is four hours long. It is divided into five testlets. Among these tests, two are MCQ-based. The remaining three tests of each section are task-based simulations. These assessments require you to answer questions in a long form. 

CFA Exams

CFA Level 1

CFA Level 1 is divided into two sessions-

  • First Session- 90 MCQs (2 hours and 15 minutes)

  • Second Session- 90 MCQs (2 hours and 15 minutes)

You get an optional break between these two sessions. 

CFA Level 2

Level 2 of the CFA exam also has two sessions. 

  • First Session- 11 Vignettes supporting 44 MCQs (2 hours and 12 minutes)

  • Second Session- 11 Vignettes supporting 44 MCQs (2 hours and 12 minutes)

The break between the two sessions is optional. 

CFA Level 3

Two sessions of Level 3 are as follows-

  • First Session- 6 Vignette sets and 5 Essay sets or 5 Vignette sets and 6 Essay sets

  • Second Session- 6 Vignette sets and 5 Essay sets or 5 Vignette sets and 6 Essay sets

Career Prospects: US CPA Vs CFA Certification

US CPA

  • Internal Auditor

  • Public Accountant

  • Finance Manager

  • Finance Analyst

  • Tax Analyst

  • CFO

CFA

  • Equity Research Analyst

  • Credit Analyst

  • Financial Analyst

  • Equity Research Associate

  • Corporate Financial Analyst

  • Auditor

  • Consultant

  • Portfolio Manager

  • Senior Financial Analyst

Duration

US CPA

  • 1 to 2 years

CFA

  • 2 to 3 years

Cost

US CPA

The US CPA cost is as follows- 

  • Education and Evaluation Application Fees- $90 -$150

  • Examination Application Fees- $1100- 1500

  • CPA Exam Retake Fee- $50-$200

  • CPA Review Course- $1,000-$4,000

CFA

The CFA course cost includes: 

  • Early Registration Fee- $940

  • Standard Registration Fee- $1,250

  • One-Time Enrollment Fee- $350 (For Level 1, it does not apply to subsequent exams)

CFA vs CPA Salary Comparison

US CPA

Fresher US CPAs in India earn around INR 7 LPA. 

CFA

CFAs in India earn around INR 8 LPA.

Responsibilities

US CPA

  • Financial Reporting

  • Auditing

  • Taxes

CFA

  • Financial Analysis

  • Financial Advising

  • Wealth/ Growth Management

US CPA or CFA Career Paths: Which One to Pursue?

The thorough comparison must have helped you make a choice between US CPA and CFA. Both these qualifications focus on quite different areas in the field of finance and accounting. Therefore, listing the advantages of a US CPA over a CFA is difficult. Your choice between the two completely depends on your career preferences. 

You must choose the US CPA course to become a global accounting expert. On the other hand, you must pursue the CFA certification if financial analysis and management interests you. Some other factors to consider while making an informed choice include:

  • Eligibility

  • Duration

  • Syllabus

  • Career Options

  • Cost

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Final Words

There are numerous differences between US CPA and CFA designations. However, no difference can state one better than the other. Both these courses offer great global opportunities. But you must never randomly choose between these courses. It is essential to consider various factors like career preferences, duration, cost, eligibility and several others. 

The above factors must have made you realise that there is no better choice between a US CPA and a CFA. In the end, it comes down to your career goals and aspirations. Both courses are highly respected and beneficial in the finance and accounting world. So, whichever course you choose, success will follow you.

It is where NorthStar Academy comes to your aid. We offer the best US CPA and CFA preparation courses. Our expert mentor, M Irfat Sir, presents the most comprehensive courses to ensure your success in these examinations. So, enroll in one of our programs today to learn from experts and achieve your dream certification. 

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Frequently Asked Questions

Which is better - CFA or CPA USA?

Both these courses offer global job opportunities. There is no universal best between US CPA and CFA. You must go through varying aspects and compare them. This will help you find the most suitable course for your career. 

Should I get a CFA if I have a CPA?

You must pursue a CFA certification if you wish to switch fields. The US CPA course focuses on accounting and taxation. However, the CFA course focuses on financial analysis and management. So, you must pursue a CFA after a US CPA if you wish to enter the financial analysis stream.

How difficult is the CPA exam?

The CPA difficulty can vary by individual, but many candidates find it challenging due to the breadth of knowledge required and the depth of the topics covered.

How does the difficulty of the CFA compare to the CPA exam?

When comparing CFA vs CPA difficulty, the CFA exam is often considered more challenging due to its extensive focus on investment topics and lower pass rates across its three levels.

What is the average CFA exam pass rate?

The average CFA exam pass rate typically hovers around 40% to 50%, reflecting the exam's rigor and the comprehensive nature of the CFA curriculum.

What factors contribute to the exam difficulty?

Exam difficulty for both the CFA and CPA can be attributed to the complexity of the material, the need for thorough understanding, and the extensive preparation required.

What do I need to do to pass the CFA exam?

To pass the CFA, candidates should focus on a thorough understanding of the CFA curriculum, engage in consistent study habits, and practice with mock exams to familiarize themselves with the format and question types.