The guy who manages Kennedy family’s money has CPA, CFP and MBA not sure if CFA is also in the mix. I think getting certifications is not being confused but progressing through your career. I started out in public accounting and had to get CPA, then I wanted to learn more about financial industry (as I was auditing banks) in a structured way, so I went for CFA. Next step is to get MBA so I can make the career switch from accounting into finance. No confusion here. It’s all about why you are getting all these letters and how you can present them and what stage of your life/career you are in. If you are young, chances are your job is not that demanding and meaningful all the time, so you can supplement it with additional learning by going through CFA or CPA or whatever you want to learn. Having CPA and working on CFA helped me to get on very good projects in my company which I would get put on otherwise, which further enhances the work experience. Lastly I think CPA and CFA are becoming more complementary because of the amount of accountants getting CFA who already had CPA and the way accounting is becoming more complex. Of course no one will get CPA after CFA, but in a lot of case that’s not even possible, because CPA requires degree in accounting, if you went CFA route first you prolly have degree in finance.
Couldn’t agree with you more, CFA=NOLIFE. The others have “no perspective,” LOL. When you *combine* the tests / designations with experience, it then does become meaningful. We’re not just doing this for nothing…
CFA is more like a jaguar. was prestigous, but is going bankrupt They really need to tighten the requirements on being allowed to do it etc. Because its going to become to standard and lose any value or prestige that it has left.
Wow, lot of replies! Sorry for lateness in responding…I really hate how this forum has no email notification of responses (and going out with coworkers all night last night probably didn’t help me in responding either) I tried the trick to change the “read” in the url to “follow” but I still don’t get any emails… CFA=NOLIFE: Your comments are appreciated. And regarding the experience for CPA, I’m not in audit nor do I ever plan on being an auditor so I’m not going for the attest license (which would require audit hours). In California with the multiple pathways and educational requirements, I will be hitting the 1 year of general accounting experience in a couple of weeks (internship also counts for experience) and will be qualified to get the license. I had more than enough credits in school to pursue this route (in CA you basically need 2yrs experience if you had less than a certain amount of university credits and only 1 year if you had over that certain amount). I’m at KPMG. And yes, pay at Big4 is an absolute joke. Soma80: Good to know my accounting background will be helpful. I haven’t checked my material yet for what level of accounting info I will need to know. Volante99: Too late to back out now 
I’m in for it whether I like it or not…I’ve already told several people at work and the fees have been paid/materials have been bought. ABh555: Timing wise for CPA, I just started with whichever class Becker had available next. My order went AUD, REG, BEC, and FAR last. Started classes in July, took the first test in august, then next one in Oct, next in Nov, and last in Feb. I REALLY liked Becker for CPA. I was unconvinced at first but looking back on it, they did a f’ing good job (totally overprepared me and stressed me out though). Stalla seemed extremely expensive for CFA and everybody at work told me to just use Schweser. Everybody else: Great comments and I appreciate the insights!
I have mad respect for people trying to pursue CFA/CPA. I got my CFA in '07 and was in the process of getting my CPA, passed BEC/FAR in early '07 (suffice it to say 1H07 was a nightmare) but hit the wall on AUD/REG and didn’t put enough effort into it, now I’m screwed as Florida closed the loophole of awarding CPA’s to folks without accounting work experience. Oh well, to you question, I think the CFA is easier to study for in that CFAI gives you LOS for everything that is going to be covered, its indeed a lot of LOS and requires a ton of studying, but I think in terms of material, L1 is less material than all the 4 CPA levels (although I’m biased in my view as I have a Finance background and saw most L1 concepts in school). Anyway good luck, the CFA/CPA combo will be a powerhouse, especially if the Finance industry never rebounds to its old levels and to get good paying jobs you may have to go to Main St.
Is this messed up or what ? From the Washington state board of accountancy: Can I pay a licensed CPA to verify that I had experience supporting the attainment of the competencies ? Yes! http://www.cpaboard.wa.gov/CertificateLicense/verifying_cpa.shtml How do I document my experience ? You must establish a relationship with a licensed CPA willing to verify your experience. The licensed CPA does not have to be your work supervisor; nor does the licensed CPA have to work for the same organization that you currently work for or previously worked for. http://www.cpaboard.wa.gov/CertificateLicense/how_document_experience.shtml
WHat do you mean? The fact that the experience documentation requirements are weak or something else?
I heard this from several folks. “You either have an accounting mind set or you dont”. Pretty much, I got laid off 4 months ago and have decided to acquire a new skill set the cheapest way possible, going back to school to get a post bachelor’s in accounting and sitting for the CPA exams in the future. I don’t agree with my friends in that you either get accounting or you dont. What do you think?
Rasec Wrote: ------------------------------------------------------- > I heard this from several folks. “You either have > an accounting mind set or you dont”. Pretty much, > I got laid off 4 months ago and have decided to > acquire a new skill set the cheapest way possible, > going back to school to get a post bachelor’s in > accounting and sitting for the CPA exams in the > future. > > I don’t agree with my friends in that you either > get accounting or you dont. What do you think? Make sure accounting firms recruit from the school you are/will be attending. Otherwise, with no prior accounting experience you will have a tough time landing a decent gig even after passing the CPA exams.