Choosing to become a CFA or CPA
A lot of people are having difficulty in distinguishing the difference between a CPA, Certified Public Accountant, and a CFA, Chartered Financial Analyst. Most of the time, these people are confused about spotting the distinct characteristics between a CPA and a CFA. Although they are entirely different with one another, they bear similar attributes because these two programs have the same career focus.
A CPA (Certified Public Accountant) is a profession that is acquired by finishing a course in Accounting and is primarily responsible in the preparation of company tax returns. He or she, as a CPA should legally acquire a license as regulated by a federal governing institution. After having acquired the license, he or she may perform jobs in public auditing and accounting. Although, the skill to prepare tax income returns does not require a license, it would be best to still have the license. Some of the more critical jobs being performed by an accountant are attestation of company financial state, preparation of
company financial accounts and reports, and company’ annual book. Accountants are the one of the most sought after worker most
especially in highly urbanized countries where big firms are established.
A CFA (Chartered Financial Analyst) on the other hand is a profession similarly described and compared as the postgraduate in Finance with a little of accounting concepts, wealth management, economics, and statistics. The CFA may be broader in concept compared to Accounting but this program does not take as long as the bachelor’s course in Accountancy. Just like accounting graduates who need to have a license, a CFA cardholder needs to pass three levels of examination in order to fully perform and effectively discharge his responsibilities.
by Korbin Howard