CFA is Offered by Chartered Financial Analysts (CFA) Institute, it is one of the most competitive financial credentials, widely considered the “gold standard” of financial analysis and investment management. It is undoubtedly one of the most rigorous certification programs in finance, which covers several key knowledge areas in finance making it best fit for those interested in developing a career as a financial analyst or in the field of investment banking. Although a MBA in Finance from one of the top institutes could be the preferred credentials for top investment banks, CFA Charter comes in a close second
Eligibility: To appear for CFA you need to be a graduate. You can also appear for CFA Level 1 exam in the final year of your graduation, however, that cannot happen for CFA Level 2 exam and beyond. To attain a charter, you must have four years of qualifying experience as well. ACCA, on the other hand, requires you to be a high school pass out pursuing graduation from a commerce stream. Graduates from another stream with foundation in accountancy can attain ACCA as well.
Popularity and recognition: Both the courses are recognized globally, in almost all countries. ACCA is one of the oldest and most recognized credentials in accounting, so is CFA in finance. One major differentiation is that CFA is highly in demand in the US, which is not the case with ACCA.
Scope in India: World over, the accounting and auditing jobs are at threat because of automation and artificial intelligence. In that case, India is comparatively a better place for ACCA as of now. CFA helps you understand finance and investment which enables you to take better decisions related to the same. With specialized employment increasing in India, CFA will be a hot property in near future.
Pass percentage: Both CFA & ACCA have almost similar passing percentage but as per the data on internet CFA wins this race by a few points.
Both CFA & ACCA are brilliant on their own accounts and your perusal for each mainly depends on your interest. It is not a bad deal to go for both if you think you are an all-rounder. If you are confused, you can always take help of a professional career counselor or someone who has been in the industry for long.
CFA is more inclined towards the finance and drill down to all the facets of the Finance domain whereas ACCA is more inclined towards Accounting, Taxation and ancillary work related to them.
You can find some overlapping in syllabus at intial level but at the end they will prepare you for totally different working area.
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