Comparison between CFA, CA & ACCA

In the fast-paced world of finance and accounting, choosing the right professional qualification can be a game-changer for your career. Among the myriad of options available, three certifications stand out as the most prestigious and sought-after: the Chartered Financial Analyst (CFA), Chartered Accountant (CA), and the Association of Chartered Certified Accountants (ACCA). These globally recognized certifications offer various specializations within the finance and accounting industry, catering to distinct career aspirations and skillsets.

In this comprehensive comparison, We will explore the differences in the structure, curriculum, exam requirements, and career prospects associated with each certification, as well as the time and financial commitments involved.

We at VGLD are here to guide you in taking the best decision for your future! We will start with taking a quick look at high-level differences followed by a detailed discussion.

Understanding Course

Let us first create a base on each of these courses by taking a quick look at their objectives, area of expertise so that we can then understand their differences in a better manner.

CFA

Chartered Financial Analyst (CFA) Certification is globally considered to be a gold standard in the field of finance. It aims to develop skills and acumen to meet the growing demands of society by specializing in areas like financial analysis, portfolio, and investment management. CFA Charter is one of the most sought-after and common accreditations after MBA in the field of finance.

CA

Chartered Accountant (CA) is the highest accounting qualification that a student can gain in India. Its rigorous course requires in-depth understanding of accounting, taxation, auditing, and other laws – thereby helping to create all-rounders for the society at large. Conducted by The Institute of Chartered Accountants of India (ICAI), CA qualified students draw one of the most respectable salaries in India.

ACCA

Association of Chartered Certified Accountants (ACCA) is considered to be a gold standard in the world of global accounting as it seeks to train students in the most advanced and robust accounting standards – International Financial Reporting Standards (IFRS). With its international acceptance, ACCA qualified students also stand to gain an opportunity to make a truly global career.

High-level Overview

Below are the key differences between these three courses to give a high-level overview to help facilitate some quick decision-making.

Hold on your horses, do not take a decision in haste. We at VGLD, would rather suggest you to go to below detailed differences before taking a final decision on choosing the most relevant course for you.

Detailed Differences

In addition to above highlighted differences, we will now closely look at each of the key differentiators between these courses so that one can make an informed decision.

Number of levels & Papers

Assuming no exemptions are available, a candidate must pass the below sets of papers to be eligible for a full accreditation. These papers are carefully curated to test one’s academic & application skills in fields like quantitative methods, derivatives, financial statement analysis, accounting, taxation, law, audit etc.

Working Experience Requirements

In order to obtain a full-fledged degree (required to practice profession), a candidate must adhere to below working/practical experience requirements.

Eligibility

Each of these courses do not limit the intake of students from other streams like science, arts and others. In fact, a basic graduation in any field gives you a good playing field.

Frequency of examinations

• With most students now opting to study and work simultaneously, an increased frequency in number of available terms adds to the flexibility and ease. Both CFA & ACCA score in this section by offering students the option to appear in an exam across multiple windows in a calendar year as per their order of choice.

Note: CFA Level 1 has four testing windows in 2023 – February, May, August and November

Format of examinations

All these courses offer different set of exam patterns. Hence, a candidate can choose from the most suitable option.

Accounting Standard & It’s Usage

Accounting Standard used across these courses is a major difference one should be aware of. Depending on the career choice, one should pay careful consideration to this as it goes a long way impacting the career opportunities at your disposal.

Standard Job Profiles

Given the wide acceptance and skills level showcase by its successful candidates, there is a never-ending demand for its certified professionals. Some of the mot common job profiles which students can expect to enter into post qualification are:

Salary in India

Salaries for freshers in India are quite competitive across all three courses and there is very little to choose from. At the same time, the number of years of relevant experience and the level of hiring has a big impact on the total salary.

If you have any further doubts or want to check your eligibility, please feel free to Contact VG Learning Destination @ +91 9700000038 or mail us at contact@vgldi.com