The rising pandemic rates have placed a huge demand for professional certifications in the accounting world, namely for certifications such as the CFA, CA, and the US CPA. Accounting professionals have realized the need for upskilling as this has allowed them to reconsider their career paths. There is a growing interest in accounting programs that enhance the skills and competencies that future financial leaders need most. New and seasoned professionals alike are seeing a positive outlook for the sector as they take advantage of the opportunity to strengthen their strategic skills and become valuable business partners during this time of crisis and uncertainty.
With graduate education, certification, and continuing professional education (CPE), accounting programs help professionals evolve in their careers and satisfy a thirst for lifelong learning. The Institute of Management Accountants (IMA) reported 17% year-over-year growth for the Certified Management Accountant (CMA) program over the last year.
There is always a need for accountants to find the right course that will help them choose a career path. Below listed are some of the most sorts after courses which will help you make the right decision
CFA, CA and a US CPA
|Offered by||A CFA is a globally recognized professional designation given by the CFA Institute
(formerly the AIMR (Association of Investment Management and Research)), that measures and certifies the competence and integrity of a financial analyst
|CA stands for Chartered Accountant which specializes in Financial Accounting and finance and caters to all fields of finance. ‘The qualification is given by ‘The Institute of Chartered Accountants of India’. After passing the exam, the candidates are entrusted with several fields within finance and accounts||CPA stands for Certified Public Accountant, and these exams are conducted by the American Institute of Certified Public Account (AICPA)|
|Exam Papers||Three Steps of Exam(Level I, Level II, Level III)||Chartered Accountancy Course is divided into 4 levels – CA Foundation, CA Intermediate, Articleship Training, and CA Final||Four sections of Exam ( AUD, FAR, BEC, REG)|
|Exam months||February, May, August, November||May and November||All through the year|
4 year of Work experience
|10+2 Qualification||Post-Graduation after B.COM|
|Focuses on||Investment banking, hedge funds and portfolio management||Financial, Management Accounting, Taxation, Business Analysis||Auditing, Taxation, Assurance, Accounting|
|Time to Complete||2-3 years||3-5 years||1.5 years|
As explained above you could look into CA if that’s your goal and see if that’s the limit. You would also like to consider some additional credentials like CFA or US CPA to your name. These credentials add value to both your name and your profile. An additional qualification gives you an edge over your competitors.
Since it is not possible to specify which course you should take, it is up to you to decide which one is more appropriate for your career or academic background. If you are looking for an accounting job in the U.S., don’t overthink it and go for the CFA or the CPA.
At the end of the day, it is advisable to talk to a counselor to better understand the career choice that is best for you and help you make the right choice for your future.
We hope this comparative analysis helps you choose the right career for yourself. In case of doubts or queries about these certifications, feel free please reach out to us, and will be more than happy to assist you. Please share your thoughts on the comparison above and let us know your thoughts.