These days I’m kind of confused… After passing the CFA exams, worked in strategy/fund accounting, I have moved to biz development work and occassionally do investment valuations. Then these days my boss keeps asking me “are you accounting trained?”, I said I was not but only did fund accounting before. Then he seems not really trust whatever I told him about accounting but check with another person working in accounting department in progress of finishing ACCA exam, and the answer is either just the same or that person may not know/or being wrong (after I check with PWC/Delloite report on accounting).
Seriously, what the hell? Should I register for ACCA exam and become CPA? Honestly I’m not fond of accounting (not my bowl of rice) but it seems like there are some tasks that required you to be CPA to be authorized to do something, eg: become company’s secretary, Financial controller, (don’t know what else). All thoughts and comments and advices are very much appreciated.
How tough/considerable time and effort to become a CPA comparing to become a CFA? Also 3 years studying? Do we need to have accounting working experience to be approved as a CPA?
I don’t think its anywhere near as hard or time consuming as one level of the CFA. The issue, at least in the US, is you need 1 year of qualifying work experience (which is more strict than CFA’s definition) and you also need the qualifying education which is an extra 24-30 hours of upper level accounting classes. I can’t speak to the requirements in your area.
First question - when you discuss CPA, are you talking about the US version? Or are you talking about the new Canadian version? Or are you talking about the CA, which is more of an international designation (but not well known in the US)?
Or is this something different entirely, like the Car Parking Attendant?
The Canadian one is largely based on the CA program, but with influence from the old CMA/CGA designations, which are being phased out in most provinces now (if they haven’t been already). I think the Canadian one has more education beyond your undergrad, both have final uniform type exams. I think most would have considered the US CPA and the old Canadian CA roughly equivalent, but that’s a little more unclear now.
Most States require public practice experience for the CPA (US) designation. That’s not the case in Canada under the new program, where private industry experience will be acceptable (though it has to be in specific functions). The old CA program was definitely public practice focused.
