CFA (Chartered Financial Analyst) - Overview

[Acid]

What Is the CFA Program?

It's a self-study, graduate-level program for investment professionals.

The three-year program requires you to study for and pass three levels of exams. If you pass the exams and meet other requirements, you earn a CFA charter.


Fast Facts

History: Into Our Sixth Decade

• First proposed by Benjamin Graham in 1942 as a member of the New York Society of Securities Analysts (NYSSA, founded 1937)
• Founding members of CFA Institute include the world’s oldest corporate financial manager societies, the Investment Analysts Society of Chicago (founded 1925) and NYSSA

Recognition: Worldwide

• The Economist ranked the CFA Program as the gold standard among investment analysis designations
• Employers around the world recognize the value of the charter

Academics: Rigorous

• Self-study curriculum: Developed by a broad-based global practice analysis conducted every five years
• Three levels of exam: Each level demands a minimum of 250 hours of study, with substantially more, depending on individual circumstances
• Generalist approach: Emphasizes principles that are relevant in every market

Member Network: Invaluable

• Global network of nearly 100,000 members
• Highly active professional membership organization
• Members play leading roles in:
  • Investment companies
  • Mutual funds
  • Broker-dealer/investment banks
  • Banks
  • Consulting firms
  • Insurance companies
  • Pensions and foundations
  • Research and academic institutions

Source: CFA Website

[ABBAS ALI]

It nice to you to share information of CFA.

[Acid]

Great. Are you planning to do CFA? I like the learning outcomes of CFA but unsure If its worth it after ACCA..

What do you think?

[ABBAS ALI]

I don't think so. Because this is the field of investment.

[Acid]

Why not in investment? I have seen people are reluctant in going to investment but dont understand why! Also do you have any idea if CFA is relevant to the consultancy services provided by Big4 or other firms ?

[Ash123]

Dear Acid,

Please Check the following website:

www.investopedia.com

http://www.investopedia.com/articles/analyst/060302.asp

http://www.investopedia.com/articles/professionaleducation/08/cfa-or-mba.asp?viewall=1 = (CFA, MBA or Both)

It will give u an insite oo CFA qualification

It also offers guidance on choosing CFA as ur further qualification, The job prespective and CFA rating compared with MBA and some other professional qualification.

I think if u are interested in Corporate Finance or investments u should go 4 CFA after ur ACCA. Make sure to opt for P4 and P5 as ur option papers. I m not sure about P5 but studying P4 really gives u the grip to cope some aspects of CFA syllabus!

Also, Many ACCA Candidates wont go for it as a qualification firstly because its very challenging. The passing criteira is one hell of a blow in this qualification. Further U really need to be in touch with the topic in order to answer the Item Test and Eassy Questions! (Not like ACCA!) and Secondly, most candidates prefer an ACCOUNTANCY related qualification after their ACCA such as ICAP, CPA, ICAW!

I qualified this Feburary and am planning to either go for CFA or MBA in Finance or Islamic Finance for my further qualification! ;)

Regards
Ash123

[Acid]

Thank you for your detailed insight and experiences. You are the best person to take advice from as you have qualified.

Tell me, Is being an CFA more interesting than and External auditor ? And What do you think about doing CIMA after ACCA? Would it make any difference?

I will also opt for an Islamic finance qualification, probably Cert IF from CIMA..

What are your reasons to do CFA?

[Ash123]

Your most welcome!

Yes, i belive being a CFA is more interesting than External Auditor. The reason, i find more scope and challenge in CFA and m a kind of person who is driven to challenge. Further, being an external auditor is a good begining of an accountancy career but as a full time career....HMMM! (would u be willing to work off-hours, running after clients, filling... all ur life?){Forensic Auditing & Internal Auditing is more in demand dese days}

CIMA i think is not that much in demand... bcoz more ppl here in kuwait are either shoting for CPA or CFA and if not these two its CIPM also offered by CFA institute. Other than that its still d MBA at the top. There mite be a different trend elsewhere! There is not much difference except for the career u can progress from the two qualification.

Islamic finance is d best choice ever (being a Muslim by religion). As u mite be aware of the concept of Interest is forbidden in Islam and finance/investment mostly deals with interest so i think if ur opting for a finance career, Islamic finance is the best. Also, Since the downfall of the US market and the markets worldwide there has been a considerable demand for Islamic finance in western countries... So ur choice is IN DEMAND :)

My REasons for CFA:
Well, when i studied P4 in ACCA Opts i jst FELL IN LOV WID Financial Management..so shifted my plans from ICAP to CFA. And living in Kuwait doesnt offer u much in educational sector. We dnt have a vast variety of options to choice from.

Currently there is no ISLAMIC FINANCE COURSE or programs here in kuwait else i would hve gone for it. The only one, is offered by the Middle EAst sociery termed as CIPA (Certified Islamic Public Accoutant) with exams held in Bahrain 2 times a year. [If ur in middle east U mite wana look into this one)...

So m planning to achieve a CFA qualification after my ACCA.. and Inshallah in the upcoming years wid a career will try out MBA in Finance/Islamic Finance. There is a university planning to offer that in near future!

Good Luck to U in Ur planning
Hoping This was Of Some Guidance! ;)

Regards
Ash123

[ABBAS ALI]

My tutor done CFA after ACCA he got the good oppurtunity from UK. But now due to recession in world he lose his job because lack of investment. He got the job of invesment manager.

It totally depend to you if u eager to do CFA so forget any think and do it .

[Acid]

Hi Ash123,

You have provided an excellent analysis (again).

Although I havent taken P4 and am doing P5 but now after reading your post I am fully inclined to do CFA after ACCA. Nowdays I was really thinking what next to do, although this is not the ideal time but I always want to know what next is there in the agenda!

About the Islamic Finance, I am aware of the interest forbiddance ofcourse. So far I only knew about Cert IF offered by CIMA but now I will look at the one you just mentioned. I live in ME (Saudi Arabia) so I shouldnt be much of a problem. I have seen that Cert IF is quite a low level certification, I may be wrong, but thats a persepective.

I was very very interested in pursing career in forensic accounting but people here told me that this hasnt got much scope in Middle East, It has got much popular scope in the WEST.. I dont know how far that is true.

One thing, What kind of stuff we do after doinf CFA?