Which one is harder to pass CA or CFA?

[system]

@Hairymarkowitz

@sooraj

The prof who tought me FRA for level 2 was CA (India) and CFA charterholder. He said CA is way tougher than CFA…

I had an Indian CA studying with me for CFA L 1 . He failed twice in this exam. Plus he said that the CA exam way much predictable and guidebook oriented and that it was possible to pass when given in group of 4 subjects in a go with only about 50% needed for passing in each subject and around the same needed in total.

This is certainly very less rigorous than the CFA exam and you cannot compare a subjective step-marking exam with an exam in which either you are right or you are most certainly wrong. Plus the CA guys dont even know many

stuff about structured finance, bonds and derivatives that CFA students do. CA people know more about Indian taxes and might be about costing but thats about it. There is not even a remote chance that CA is tougher than CFA even after discounting the fact that the difficulty level is compounded in CFA because most guys are doing a full time job.

I am saying this after seeing an umpteen no. of CA guys while working in banking industry in India in public sector

which itself is a monster to break into with entrance examinations and passing rate south of 5% ( all aptitude work) . The CA guys get a direct route here without examination, which they have introduced one just lately directly in a higher scale without any work ex. while the MBA guys are put at a disadavantage and these Banking people in India hardly know anything about CFA.

The CA holders are just on some kind of propoganda is what I have observed and they somehow learn how to

be a dominatrix and impose a unwritten doctrine plus they are supported with past alumni of CA who somehow pervade in every Indian financial institution and some fields like Audit and Taxation are their exclusive fiefdom in India. Somehow I managed to overcome their jinx and stick to my job but obtaining a job in Finance in India is even more geared towards a CA than CFA because these guys somehow only like to perpetuate a CA dogma i.e. If you are a CA and you failed while doing your job thats because there was not better way to do it, whereas, if you were a non CA but a CFA , MBA or of sorts even an ICWA you should have known better! Its almost like " Life is a dogma live by it".

That said I would say some CA know their stuff but there are certainly some I know who are total idiots but all are definetly overpowering by nature. This culture certainly doesnt help and is not reassuring when all the bosses in India are with the designation of CA and I dont even know where the penetration of CFA in India stands and what high positions do these guys actually hold because it is still young in India and most charterholders are not like old geezer CA with arcane high positions trying to flock the herd on a camel.

Respect…This guy has guts to speak the truth.

[system]

@Hairymarkowitz

@vicky\_cool400

Hairymarkowitz have u given CA exams ?

I already have an MBA in finance and work ex of more than 4 years in budgets, corporate finance , pricing and Banking involving a telco, a mult. engg. major and currently working a a manager in a public sec. bank. I have never appeared for a CA examination and I dont find the utiltiy in doing so anymore but I am pretty confident that I would nail it if I do.

This guy looks like my brother from another mother.

[system]

@vgmalu

Being from India, I can say that Indian CA is the most Overrated degree in the whole world.

ICAI has no standards and declares results / sets papers w/o any scientific reasoning behind it.

Indian CAs also think of themselves to be Financial Wizards, when infact many of them don’t know anything. This is from past experience of working with them.

Also Dummy artcileship is common in India, so many CAs have no professional knowledge when they passout.

All in all CFA adds more value imo then CA.

I agree…Thanks god some Indians are honest…

[system]

@Sidtoaf

But my limited point is that CA is as good, if not better than CFA. CA gives you the best of many fields - Accounting, Audit, Taxation, but also Finance (through SFM) and Management Accounting.

In any case, please do see the syllabus before commenting. Even though it is not as detailed as LOS, but still. FYI.

http://220.227.161.86/169final_new_syllabus.pdf

trollish comment

[swatbsba]

Am in love with this thread. Good stuff. Just kicking back / enjoying the fireworks.

[system]

Are Indian CAs not legit then?

[system]

@StallionDis

Are Indian CAs not legit then?

They are legit.You have to be a CA to do accounts related work in India.Unfortunately the finance industry is not well developed in India.Hedge fund/PE/CDS/derivatives/securitizations etc are all undeveloped in India.Indian CA teaches a bit of finance in Strategic financial management paper and it is sufficient for Indian Economy.

CFA/FRM other designations are over kill for Indian financial markets and as a results are not in great demand.

Indian CA has decent course content and students work really hard to pass this exams.Indian CA is best financial designation in India for Indian markets.

Inspite of all the pluses…Corruption is greatly present in the administration of CA exams.

[aks123]

I passed the CA exams way back in 2004,CFA in 2012 and FRM in 2013.

Difficulty wise: FRM 1 AND 2 >CFAL2>CFAL3>CA final>CFA L1.

Indian CA’s CPT (level 1)is a joke.

" " IPCC(Level 2) is difficult as compared to CA CPT.

CA final is a beast.

[vicky_cool400]

we shd compare ca with cfa l3 morning exam

[meeee20]

@Sidtoaf

@Chris_400

@Sidtoaf

I have cleared my CA this November 2013 from Institute of Chartered Accountants in India when the pass rate was 3.11%. I have never put more effort in my entire life than I have for the CA exams. It involved around 1000 hours of dedicated studying to be masters in 8 subjects. CA maybe more biased towards Accountancy, Audit and Taxes, but IMO it gives a very good persceptive about the finance industry as well.

@Hairymarkowitz- I would partially disagree with you that CAs dont understand BSM, Treynor Black etc. Derivatives, Portfolio Management, Capital Budgeting, Bonds, Corporate Finance is an integral part of the CA exam. Sure not everything that is covered in the CFA exam is also covered by the SFM (Strategic Financial Management Paper). But I can say, with recent personal experience. A CA should have no difficulty with L1 or L2 (I am a L2 candidate). Almost everything that I have studied for CA is applicable for CFA exams. FRA was a walk in the park with superior finanicial skills. Equity, Corporate Finance were also easy as the valuation models are already covered in the SFM paper. Fixed Income- Covered to a great degree for the L1 but not very much for L2 (new learning). Portfolio- 75%+ covered in SFM, Derivatives- 75%ish covered in SFM.

Irrespective of that, I would still say CFA is a nice course gives a clearer picture of the Finance world (more than CA) because clearly CA is meant for (but not limited to) Accounting, Auditing, and Taxation. But CFA is clearly meant for Financial Analysts. Also, I believe a CA is as qualified to whatever a Charterholder can without the degree.

Are you saying the Indian CA is more difficult than the US CPA? Just asking…

I got a job in New York on the basis of my Indian CA, now will take the CPA exams, from what I have heard from other CA friends, they feel that CPA shouldn’t be any problem.

respect for passing in the nov exam…

its the first time i am hearing a c.a fresher getting a job in usa.

what kind of job did u get?

the only problem i have with the c.a exam is that certain questions in accountancy and sfm have ambiguous solutions. also c.a is harder than cfa

[meeee20]

btw rahul roy since u said u did ur internship from a good financial firm maybe u can help me out here… http://www.analystforum.com/forums/careers/91334458

[system]

@meeee20

@Sidtoaf

@Chris_400

@Sidtoaf

I have cleared my CA this November 2013 from Institute of Chartered Accountants in India when the pass rate was 3.11%. I have never put more effort in my entire life than I have for the CA exams. It involved around 1000 hours of dedicated studying to be masters in 8 subjects. CA maybe more biased towards Accountancy, Audit and Taxes, but IMO it gives a very good persceptive about the finance industry as well.

@Hairymarkowitz- I would partially disagree with you that CAs dont understand BSM, Treynor Black etc. Derivatives, Portfolio Management, Capital Budgeting, Bonds, Corporate Finance is an integral part of the CA exam. Sure not everything that is covered in the CFA exam is also covered by the SFM (Strategic Financial Management Paper). But I can say, with recent personal experience. A CA should have no difficulty with L1 or L2 (I am a L2 candidate). Almost everything that I have studied for CA is applicable for CFA exams. FRA was a walk in the park with superior finanicial skills. Equity, Corporate Finance were also easy as the valuation models are already covered in the SFM paper. Fixed Income- Covered to a great degree for the L1 but not very much for L2 (new learning). Portfolio- 75%+ covered in SFM, Derivatives- 75%ish covered in SFM.

Irrespective of that, I would still say CFA is a nice course gives a clearer picture of the Finance world (more than CA) because clearly CA is meant for (but not limited to) Accounting, Auditing, and Taxation. But CFA is clearly meant for Financial Analysts. Also, I believe a CA is as qualified to whatever a Charterholder can without the degree.

Are you saying the Indian CA is more difficult than the US CPA? Just asking…

I got a job in New York on the basis of my Indian CA, now will take the CPA exams, from what I have heard from other CA friends, they feel that CPA shouldn’t be any problem.

c.a is harder than cfa

Have you passed ca?

hAVE you passed CFA?

Have you passed FRM?

Have you passed CPA/Acca?

If not then please stop saying CA is harder than CFA.

I think aks123 who has CFA/CA/FRM has given us a very clear picture.

I have answered your question in the career section.

[meeee20]

as for c.a i have passed inter and already covered most of the final ka material and looked at past paprrs so i know the level of difficulty. i never said c.a is harder than acca/frm/mba.i have no clue over that. i passed l1 with greater than 70 in all and have a decent probablity of passing l2…i have put in less way less hours than i did in ca.

i would say c.a requires more hard work and both c.a and cfa require almost equal intelligence

[Sidtoaf]

Are we really discussing this again?

[meeee20]

why not? i just got in

[system]

I give up.

CA is better than CFA+FRM+ACCA/CPA+MBA.

Bhai ab toh tumlog khus ho na??I think now you all should be happy…

I don’t want to debate on CA vs the world again.

[Sidtoaf]

I concur.

[klaudnine]

indian CA hardest hands down.

[system]

Indian CA is harder than CFA/ACCA/FRM/MBA/JD/CPA/PHD/MBBS ETC.

Still Indian CAs are doing CFA/FRM/ACCA/CPA/MBA after doing Indian CA.

[igor555]

आज मुझे घर ले गया, जो यो चालक अपने दोस्त के घर वापस सीए ले रही है और पहले से ही सीएफए है कह रही थी और वह सीए के लिए बहुत कठिन था. सम्मान