CA vs. CFA - Which is best and why?

Everything You Need to Know About CA and CFA

Let us discuss various pros and cons related to these two degrees. We will be considering answers to various questions in your mind about your career. What is the CA course? What is the CFA course? How do you become a chartered accountant? What is CFA certification about? Who is a chartered financial analyst?

We will consider all aspects of these two specializations such that you can find your dream career among these two. We will talk about salary to the job profile, opportunities abroad to government jobs in India, the competition level of the exam to college fees. In the end article, you will get a clear picture of both these courses to wisely be able to choose the best one for yourself.

CA COURSES

When do you ask a new commerce student what is the best-paid job related to accounts in India? They will answer you back that it is the job of a CA. What is a chartered accountant course? What does his or her job look like? Can you do CA courses online?

Chartered Accountants is among the highest paying jobs in India after some technical field jobs. CA is a certification awarded to you after education and exams in the field of business, taxation, and accounting.

Yes, it is being said that being a chartered accountant is hard and very time-consuming but a degree that gives a promising career after an investment of time and money is always worth it. CA professionals are employed in various business organizations in India from private to public. A qualified CA is hired to handle the business account details, tax dues, and investments of an organization. He or she is responsible to keep a check on money in and money out. CAs are also involved in helping in solving disputes and avoiding bankruptcy.

Chartered Accountancy or CA Eligibility Criteria

1. Minimum Qualification Required to become a CA is a 10+2

2. Minimum Marks required or aggregate that you have to score in 10+2 to become a CA is 55% only.

CA Selection and Structure:

There are three levels of CA certification:

• CPT or Common Proficiency Test

• IPCC or Integrated Professional Competence Course

• FC or Final course

Read more: How to Pursue a Course in US CPA or CA in India?

1. Requirement for Accounting Technician Course (ATC):

Firstly a CA aspirant has to appear for the CA foundation course or CPT and then enroll for the accounting technician course. The minimum qualification needed is a 10+2 degree with at least a 55% score

After clearing the Entrance Examination called Professional Education (Examination-I) or CA Foundation course, you can register directly for the ATC program.

You can apply for ATC if you have applied for the Intermediate Professional Competence program or Professional Education (Course-II) before this can also register for ATC.

Also read: ACCA, CMA, or CA: Which One Should You Choose?

2. Apply for IPCC:

Requirements- You should have secured at least 50% marks in CPT after 10+2. CPT is a 200 marks paper.

Please note- If you wish to register for IPCC, it must be done nine months before the month of the exam date.

The course has 7 subjects, each subject has 100 marks. To clear the course, aspirants will have to score at least 40 % in every subject.

3. Articleship in CA:

After clearing the IPCC or CA intermediate course you have to go for an internship of 2.5 years under a certified CA is mandatory for all candidates. The articleship is to acquire a practical perspective in the field of accountancy.

Also read: Top Chartered Accountancy Colleges in India 2021

4. Final Course:

During the last six months of the 2.5-year articleship, the candidate can appear for the final course exams. After you clear the final course, aspirants are awarded the designation of Chartered Accountant.

After doing CA courses you can get job profiles like-

1. Auditor Accounts Clerk

2. Business Services Accountant

3. Chief Financial Officer

4. Cost Accountants

5. Financial Controller

6. Tax Accountant

Also read- Certified Management Accountant

CA online classes

You can take online CA course from these places:

• Takshila Learning

• Unacademy

• UpGrad

Best colleges for CA courses in India

• CMS

• Kabir commerce classes in Noida

• Elite IIT

All About CFA Program

CFA or Chartered Financial Analyst course is the one that is structured to enhance financial and investment management skills in an aspirant. It is one of the globally recognized programs that provide a strong base for the investment analysis world. This degree is offered internationally by an American organization called CFA institute.

This body is responsible for regularizing the syllabus, curriculum details, etc. of the CFA program. CFA helps you to get an overview of the real investment market. Many aspirants apply for the CFA courses every year, but only 40-50% qualify for the 2nd level.

It is one of the most difficult exams for students aspiring for such career options. You need to have four thousand hours of professional work experience in the investment decision-making process in a minimum of 36 months period that will be given to you.

Also read- Financial Analyst

Why CFA Program?

There are several advantages related to your CFA program. After you complete this course you will be getting several great opportunities.

• There are a large number of job opportunities in the Market. There are large job profiles and opportunities open for a person who completed his or her CFA degree successfully. You can work in sectors like Accounting, Auditing, Taxation, Financial Services, and many more.

• There is a Great Scope for Career Advancement – after successful completion of this program, you can easily get numerous opportunities to incorporate and a great job.

• You get a Higher Salary – The average salary will be around 4 Lakhs- 40 Lakhs per annum on completion of the CFA courses which is an amazing salary for the start.

Also read: Best Tips to get hired after completing CA

After doing CFA program your job profile can be

1. Portfolio management

2. Research

3. Consulting

4. Risk analysis and risk management

5. Investment strategy

6. Asset management

7. Private wealth management

8. Commercial banking

9. Investment banking

10. Insurance

CFA online course

There are many CFA courses available on the web.

You can try to use some of the sites for online CFA course like-

1. Upgrad

2. Udemy

Understand that it is not at all like the full-time course.

Best colleges for CFA in India

• Lovely Professional University

• Indian Institute of Technology (Delhi)

• Chandigarh University

Difference between CA and CFA

Conclusion

As we have discussed in detail about CA and CFA courses, we are much aware and got a better idea to choose the career. Both courses have a great scope in future and career opportunities. You must choose your career wisely. Opt for a CA course when you have an interest in audit and taxation whereas opting for CFA when you have an interest in investment banking and portfolio management. To sum up, it is recommended to every candidate who wants to pursue these courses that neither go for CA online classes nor CFA online classes. Join the renowned institute where you can get all your queries answered.

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