If you’re a commerce student or someone interested in the finance field, you must have heard about CFA and ACCA. Both are globally recognised professional courses that open doors to international job opportunities. But the big question many Indian students have is: “CFA vs ACCA – which one is better for me?”
CFA is better if you want to work in investment banking, stock markets, or financial analysis, while ACCA is better if you want to build a career in accounting, auditing, or taxation. CFA is well-known in the finance world and is great for jobs in investment companies. ACCA is popular in multinational companies and Big 4 firms, and it gives you more flexibility in your studies.
Let’s discover the difference between the two, who can apply, what subjects they include, and the job options after each.
What Is CFA?
CFA (Chartered Financial Analyst) is a globally respected professional course that focuses on investment analysis and portfolio management. It is offered by the CFA Institute, a well-known organisation based in the USA.
The CFA program has three levels of exams—Level 1, Level 2, and Level 3. Each level tests you on different topics related to finance. Earlier, the exams were paper-based, but now they are computer-based and held multiple times a year in many Indian cities.
The syllabus covers a wide range of subjects, such as ethics, financial reporting, corporate finance, stock market investments, bonds, derivatives, alternative investments, and how to manage portfolios.
What Is ACCA?
ACCA (Association of Chartered Certified Accountants) is a professional course focused on accounting, finance, and business management. It is offered by a well-known organisation based in the UK.
The ACCA qualification has 13 exams divided into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. You can take these computer-based exams anytime during the year, giving you great flexibility.
The syllabus covers many important topics like financial accounting, management accounting, business law, taxation, and audit (assurance).
CFA vs ACCA: Overview
Feature | CFA | ACCA |
Full-Form | Chartered Financial Analyst | Association of Chartered Certified Accountants |
Offered by | CFA Institute (USA) | Association of Chartered Certified Accountants (UK) |
Focus | Investment management, financial analysis, portfolio management | Accounting, auditing, taxation, business finance |
Recognition | Globally recognized, especially in the investment and finance sectors | Globally recognized, especially in accounting and finance |
Eligibility | Bachelor’s degree or final year student, or 4 years of relevant work experience | Completion of 12th grade or equivalent; foundation courses if needed |
Duration | 3 to 4 years (3 levels of exams) | 3 to 4 years (13 exams in 3 levels) |
Career Opportunities | Investment analyst, portfolio manager, risk manager, equity research analyst | Chartered accountant, auditor, financial accountant, tax consultant |
What Are The Key Differences Between CFA And ACCA?
- Focus of the Course
- CFA (Chartered Financial Analyst) focuses on investment analysis, portfolio management, and financial markets. It is ideal for those who want to work in investment banking, asset management, or equity research.
- ACCA (Association of Chartered Certified Accountants) focuses on accounting, auditing, taxation, and business finance. It suits those looking for careers in accounting, finance, or consulting.
- Subjects Covered
- The CFA syllabus is focused on financial analysis, investment tools, ethics, asset valuation, and portfolio management.
- The ACCA syllabus covers a wider range of topics in financial accounting, management accounting, business law, taxation, and audit.
- Exam Structure
- CFA has three levels of exams. Each level is conducted in a specific format and tests a deeper understanding of finance and investments.
- ACCA has 13 papers divided into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Some students may get exemptions based on their previous qualifications.
- Recognition and Popularity
- CFA is more recognised in the USA, Canada, and global investment hubs.
- ACCA is widely known in the UK, Europe, India, the Middle East, and Southeast Asia.
- Cost
- The total cost of doing ACCA is around ₹3.5 to ₹4 lakhs. This includes exam fees, registration fees, yearly subscriptions, and study material. If you get exemptions, the cost might be a little less.
- The CFA course costs about ₹1.5 to ₹2 lakhs for each level. Since there are 3 levels, the full cost can be around ₹4.5 to ₹6 lakhs. This does not include the cost of books or coaching, so it can go higher.
ACCA VS CFA: Eligibility Criteria
ACCA Eligibility:
- You should have completed 12th grade or an equivalent qualification.
- Some students may need to complete foundation courses before starting ACCA.
- Usually, you must be at least 18 years old to enroll.
CFA Eligibility:
- You need to have a bachelor’s degree or be in the final year of your graduation.
- If you don’t have a degree, you must have at least 4 years of relevant work experience or a mix of work and study adding up to 4 years.
To move beyond Level 1 exam, you must pass the Level 1 CFA exam first.
ACCA VS CFA: Syllabus
CFA Syllabus
Levels | Subjects / Papers |
CFA Level I – Basic Concepts |
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CFA Level II – Asset Valuation Focus |
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CFA Level III – Portfolio Management & Strategy |
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ACCA Syllabus
Levels | Subjects / Papers |
Applied Knowledge (3 Papers) |
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Applied Skills (6 Papers) |
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Strategic Professional (4 Papers) | Compulsory:
Electives (choose 2):
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CFA vs ACCA: Which is better?
Deciding whether CFA or ACCA is better depends mostly on your career goals and interests.
If you want to build a career in investment management, stock markets, or financial analysis, then CFA is the right choice. It focuses mainly on investments, portfolio management, and financial markets.
On the other hand, if you are interested in accounting, auditing, taxation, and business finance, then ACCA suits you better. It covers a broader range of topics related to accounting and finance.
Both qualifications are highly respected and offer great career opportunities. The best option for you will depend on the kind of job you want and the field you wish to work in.
CFA vs ACCA: Career Options
Career Options After CFA
- Investment Analyst
They study markets, industries, and companies to help firms decide where to invest their money. Investment analysts make reports that guide big investment decisions. - Portfolio Manager
They manage the money of clients or institutions by building investment portfolios. Their main goal is to grow their wealth while managing risks. - Equity Research Analyst
They research listed companies and give recommendations like “Buy,” “Sell,” or “Hold” for their shares. This role is key in stock market firms and brokerage houses. - Risk Analyst
They identify and assess risks in financial investments or business decisions. Their main job is to help the company avoid losses. - Wealth Manager
They work closely with individuals (often high-net-worth clients) to plan and grow their wealth through smart investments. - Credit Analyst
They assess if borrowers, whether individuals or companies, can repay loans. Most of the Banks and financial institutions hire for this role.
These roles are in demand at investment banks, mutual fund companies, stockbroking firms, and global finance companies. In India, top cities like Mumbai, Bengaluru, and Gurugram are key hubs for CFA professionals.
Career Options After ACCA
- Financial Accountant
They prepare financial reports, balance sheets, and income statements. Their job is to ensure that a company’s accounts are accurate and legally compliant. - Management Accountant
They help the company with budgeting, forecasting, and cost control. Their insights support internal decision-making and financial planning. - Tax Consultant
They provide advice on tax matters. This includes filing returns and helping clients legally save money through smart tax planning. - Internal Auditor
They review internal business processes and financial operations to ensure everything runs smoothly and follows regulations. - Finance Manager
They manage a company’s financial activities, such as budgeting, financial reporting, and strategy planning. - Compliance Officer
They make sure the company is following all laws and financial regulations. This is important for companies working in multiple countries. - Financial Controller
They lead the finance team and oversee everything from budgeting to reporting. This is often a stepping stone to the CFO (Chief Financial Officer) role.
ACCA professionals are widely hired in accounting firms, MNCs, shared service centres, and the Big 4 companies (Deloitte, PwC, EY, and KPMG). Many Indian companies that work globally also prefer ACCA-qualified candidates.
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Conclusion
Choosing between CFA and ACCA is like choosing two different paths in the finance world. If you’re interested in investments, the stock market, and managing money, then CFA is a better choice. But if you want to work in accounting, auditing, or helping companies manage their finances, then ACCA is the right fit.
There’s no “best” option for everyone. It really depends on what you like, what you’re good at, and where you want to work in the future.
Both CFA and ACCA can give you great job opportunities in India and abroad. So, take your time, think about your goals, and choose the course that matches your dream career. In the end, the best decision is the one that helps you grow and succeed.
Frequently Asked Questions
Q1: Which is easier, CFA or ACCA?
Ans: Generally, ACCA is considered easier compared to CFA because CFA exams are tougher and need more study time.
Q2: Can I do both CFA and ACCA?
Q3: How long does it take to complete CFA and ACCA?
Ans: CFA usually takes about 3 to 4 years, while ACCA can take around 3 to 4 years, depending on exemptions and exam attempts.
Q4: Which course is more expensive, CFA or ACCA?
Ans: CFA is usually more expensive because of the fees per level and study materials. ACCA costs less overall, but can vary.
Q5: Is CFA recognized in India?
Ans: Yes, CFA is well recognized in India, especially in investment banking and finance jobs.
