Hey there! So good to have you back again. Let me start by asking you a very simple question, did you know that Accounting and Finance are two fields that are growing each day? There is plenty of scope in both these courses. Let us quickly get started and understand the major difference between CFA and CPA.
The CFA course is a high in demand finance course, and the CPA course is a highly acclaimed accounting course. The key difference between these courses is their background. CFA is beneficial for candidates with a finance background and ones looking to make a career in the finance industry. Whereas CPA is beneficial for candidates who are interested in the field of accounting. Both the courses will help the candidate boost their career in their respective fields. Accounting jobs and Finance jobs are growing, and so is the industry that is recruiting them. Candidates with additional and useful knowledge and skills are valued in the industry, and the demand for them is growing. It is very important to know whether your niche is accounting or finance because these are specific accounting and finance courses. These courses provide in-depth information and knowledge about their respective fields. Candidates who pursue this course are highly focused and know what they want. If you are looking to know more about the CFA and CPA courses and the difference between them in detail, keep reading.
- CFA course full form is Chartered Financial Analyst. CFAs are highly in demand.
- A CFA course is highly beneficial for candidates who are looking to make a career in finance as it helps with better career opportunities.
- CFAs are well-respected professionals and are highly desired. The CFA course offers the candidate a diverse range of job opportunities.
- The CFA course is offered by the CFA Institute in the United States and is globally recognized.
- From topics like analysis, estimating, forecasting the future performance of the company to doing financial and portfolio management, the CFA Course provides professional training in all these fields covering all the important aspects of finance.
- The CFA course is an excellent choice for finance aspirants and is the best for candidates who want to upskill themselves, have just graduated, or are in the final year and want to pursue a career in Finance.
- The USA CPA course full form is Certified Public Accountant. The CPA designation is very prestigious and adds honors to a candidate’s status.
- A CPA course will help in the personal growth as well as career growth of a student. It provides the candidate with in-depth and extensive knowledge of the accounting field.
- The CPA course is the highest standard of competence in Accountancy.
- The options for a CPA professional are endless as they can work for the corporate, practice Accountancy, or work for individual entities.
- The CFA course syllabus is vast since it’s based on different levels. CFA course has three levels, and the syllabus is divided into these three levels.
- There are ten main topics of focus that are covered in detail. Portfolio Management has a lot of weightage in the last level i.e., level III.
- Each level has 10 topics except the last level which has only seven topics. With each passing level, the difficulty of these subjects also rises.
- Some of the major topics are Ethical and Professional Standards, Quantitative Methods, Economics, Financial Statement Analysis, Corporate Issuers, Equity Investments, Fixed Income, Derivatives, Alternative Investments, Portfolio Management and Wealth Planning.
- All the topics that are covered are useful in the professional world and give the candidates an insight into the functioning of the finance industry.
The CPA course syllabus is vast. There are four exams, and each of them is based on different topics.
- Modules covered in Exam I – Financial Accounting and Reporting
- Exam II – Auditing and Attestation
- Exam III – Regulation (REG)
- Exam IV – Business Environment and Concepts
- The CFA course duration is two years. All three levels of the CFA course can be completed in two years if the candidate is focused and dedicated.
- The CPA course duration is 12 months and is shorter than the CFA course.
- Since the duration and field of these courses are different, the eligibility criteria are also different. The CPA course fee is higher than the CFA course fee.
To summarize, CPAs are responsible for maintaining and auditing the financial statements of an entity while CFAs use these reports to analyze a company performance and future growth.