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

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.

Read More :

• The Best CPA Comprehensive Guide
• US CPA Eligibility in India - Step-by-Step Guide
• CPA Canada Requirements - How to pursue CPA Canada after B.Com

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

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

Read More :

• US CPA Exam Fee - Registration & Exam
• US CPA course After MBA in Finance | A Complete Guide

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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