CFA vs ACCA: Which Should You Choose?
Investment management or accounting? Two global finance qualifications compared: focus, structure and careers.
CFA and ACCA are both global qualifications popular in India, but they train for different careers. CFA is an investment qualification covering valuation, portfolio management and markets; ACCA is a professional accountancy qualification covering financial reporting, audit, tax and financial management.
CFA
Chartered Financial Analyst
- Levels
- 3 (I, II, III)
- Result Basis
- Cohort-based MPS (~45% pass)
- Time to Complete
- ~2–4 years
- Starting Salary
- ₹9–30 LPA (India, role-dependent)
Eligibility
Education: Bachelor's degree, OR in the final year of a bachelor's, OR 4,000 hours of relevant work/education experience. No age limit.
Age: No age limit.
ACCA
Association of Chartered Certified Accountants (ACCA Qualification)
- Levels
- 3: Knowledge, Skills, Strategic Professional
- Papers
- 13 exams (fewer after exemptions)
- Pass Mark
- 50% in every paper
- Exam Sessions
- 4 per year: Mar, Jun, Sep, Dec
Eligibility
Education: Entry after Class 10+2 (typically ~65% in Maths/Accounts & English, 50% in others). Graduates (e.g. B.Com) and CA / CA-Intermediate candidates qualify for exemptions. Applicants below the entry bar can start via the Foundations in Accountancy (FIA) route.
Age: No formal upper age limit (typically 18+ for direct registration).
Key differences at a glance
- CFA focuses on investment analysis and portfolio management; ACCA on accounting, audit, tax and financial reporting.
- CFA has 3 levels; ACCA has 13 exams across 3 levels, with exemptions reducing the number you sit.
- ACCA can be started after class 12; CFA needs a bachelor's degree, final-year enrolment or 4,000 hours of experience.
- ACCA has four exam sessions a year and a 50% pass mark in every paper; CFA uses a minimum passing score set for each level.
- Both require relevant work experience to qualify: 36 months for ACCA and 4,000 hours for the CFA charter.
Which should you choose?
Choose CFA if you want to work in investment management, equity research, portfolio management or investment banking. Choose ACCA if you want to work in accounting, audit, financial reporting or corporate finance, especially with multinational companies or in roles that use IFRS. ACCA can be started after class 12; CFA's entry route is through a bachelor's degree or equivalent experience.
CFA vs ACCA: FAQ
Is CFA or ACCA better?
It depends on your career. CFA suits investment roles; ACCA suits accounting, audit and corporate finance.
Which can I start after class 12?
ACCA. Candidates can register after class 12, while CFA needs a bachelor's degree, final-year enrolment or relevant experience.
Can I do both?
Yes. Some finance professionals combine them, using ACCA's accounting base for CFA's financial reporting and analysis topics.
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