CFA vs Finance major
Hey guys,
Hope you are all having a great Memoria day weekend :) :p
I was hoping for some opinions on whether the CFA would be equivalent to what a Finance major would know....
I am an Economics major and I would like to know if passing CFA level I would let an employer know I have enough knowledge of Finance.
Or does a Finance major know a lot more than what the CFA covers?
Please enlighten me, thank you,
and also if you know about the CPA, how does it compare to an Accounting major?
The finance in CFA level 1 is what finance majors learn in their intermediate finance classes. Arguably, the CFA level 1 would cover more ground than a finance major and would show employers that you do have an understanding of finance. But for entry level jobs, the CFA level 1 doesn't really matter in terms of getting the gig. Accounting majors take CPA after they take their required credit courses in accounting, so unless you want to go that route, you have to become an accounting major which I'm sure you don't want to.
I disagree what you said about CFA 1 covers more ground than a finance major. CFA 1 covers i would say alot of the entry level business program course like econ, accounting, stats and finance (econ finance) etc. The finance in upper year covers alot more complex topic like M&A, risk management, derivatives, financial modeling, etc.
I could be wrong here, as I am just a student. Here are my thoughts though.
CFA covers more than an UG finance curriculum. For instance, my school is a partner with the CFA Institute and claims to prepare students for "the" CFA exam. This is just level one, but they leave this out. I know better. Anyone who has passed all three exams will likely say the UG finance curriculum only scratches the surface.
As for CPA vs. accounting major. It is my belief an accounting major is part of the requirements for the CPA to some extent, along with 150 credit hours as opposed to the mainstream 120 required for a bachelors degree.
Feel free to correct me.
Are you talking about an American CPA (certified public accountant) or a Canadian CPA (chartered professional accountant)?
I'm assuming America based on your profile.If your school (in Canada) is recognized by the accounting institute (or whatever it is) called, as long as you take the proper courses I believe you are able to write the 1st exam right away. The other exams are unlikely to have been fully covered in your course content.
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