Comparison of CPA and CFA Qualifications
The CFA and CPA titles represent qualifications in different sub-sectors of the accounting and finance field. CPA is for accounting, while CFA is for finance.
- CPA:
- For accounting, auditing, and taxation.
- CFA:
- Prepares candidates for investment portfolio management and corporate finance.
Distinction in Career Paths
The main difference is that CPAs produce and audit financial reports, whereas CFAs make financial forecasts based on these reports.
Exam and Course Differences
- CPA:
- About 50% pass the exam.
- CFA:
- About 7% clear all three levels.
- CFA course is more lengthy and detailed compared to CPA.
CFA Certification and Recognition
- Awarded by the CFA Institute.
- Highly sought after in financial institutions for top-tier talent.
Individual Exam Levels
Achieving the CFA charter or CPA distinction requires successfully navigating individual exams. The CFA exam is structured across three levels: CFA Level I, II, and III.