To do a decent job with a bright future in the financial sector, you need to get the relevant certificate. Several certification courses are available for freshmen and experienced professionals. These accreditation courses help individuals learn, achieve, and improve the skills they need to become financial professionals.
CFA and ACCA are two of the most popular accreditation programs. Those who successfully complete the CFA or ACCA certification program will find a high-paying job at a major financial company.
ACCA stands for Association of Chartered Certified Accountants. This is done by the Association of Chartered Certified Accountants of the United Kingdom. The AACA course has three levels that must be completed in order to qualify for ACCA.
The levels are:
- Applied knowledge
- Applied Skills
- Strategic professional
The main purpose of the Multilayer ACCA course is to acquire accounting, finance, auditing and tax skills. Owning an ACCA certificate will have a significant impact on your career progress. The cost of a full course is about £ 1200-2000. Course fees include exam fees, registration fees, and subscription fees.
The Chartered Financial Analyst, or CFA course, is offered by the Chartered Financial Analyst Institute (USA). CFA is an internationally recognized accredited course. It is considered the “gold standard” of the financial sector. The CFA-certified professionals are highly skilled and hold senior positions at financial institutions. CFA standards are as high as their reputation. To pass the exam, you need to go through a rigorous process to gain in-depth knowledge of finance. To earn a CFA degree, you must have good grades and pass all three consecutive levels.
Which is more difficult: CFA or ACCA?
Both CFA and ACCA are well-known accreditation courses in the financial sector. However, CFA is much more difficult than ACCA. It has been observed that only 10% of candidates enrolled in a CFA course complete it successfully. In addition, there are only 4 years to complete the course, compared to the 10 years allotted to complete the ACCA course. Even the CFA curriculum is longer than the ACCA curriculum. ACCA-certified professionals are recognized around the world and job vacancies have risen to a high level. You can hold the prestigious positions of Accountant, Internal Auditor, Finance Manager, Finance Advisor, and Tax Manager. The difference between the two lies in the career prospects offered by both certifications. The CFA is designed for professionals who want to develop their expertise in equity research and financial analysis. ACCA certification, on the other hand, is a reputable entry-level course suitable for finance, audit, and accounting professionals. ACCA opens up a broader career perspective by offering you more opportunities.