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Looking for advice - CA or CFA???

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JimMorrison
Occasional Contributor
Hi all, I am currently in my 4th year of finance (CA) studies and am struggling with this question. I am only interested in working in finance (ie strictly no auditing/accounting). Is the CA therefore really worth the extra effort at the end of the day?
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11 REPLIES 11
Shaun_Siddall
Super Contributor
Yes do the TOPP route and not TIPP route for articles.
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Shard
Super Contributor
Been through this, you're at UCT doing BBusSci right? Do your CA, if you can, I gave up the goat because it drove me to drink too much. Did CFA instead, but I still see CA's as having a jumpstart on me in the job market. That said the Accountancy profession doesn't pay to badly and having your CA opens hundreds of doors that CFA doesn't, so you get a fall back plan as a bonus. I've been through what you're stuggling with now, if you feel you can get through GDA, then 3 years as a slave to the man working as a lowly articles clerk and then top it off by passing board 2, go for it. Of course you could do them both, but then you wont have a life for the next 4 years :) Hope that helps
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doomsdayza
Super Contributor
You can maybe get away with the auditing (you will have to do internal auditing in TOPP) but you'll never get away from the accounting during articles so if accounting is really not your thing then it's something to consider. You can do CFA during your articles though and then be a qualified CFA and CA by the time you are done. Like Shard says you won't have a life for the next 3 - 4 years but it can be done.
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poo
New Contributor
Do the CA route, it is in far more demand than a CFA, plus a CA can apply for CFA job easily, but a CFA cant do the same as easily!!!
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JimMorrison
Occasional Contributor
Thanks for the good input. I hear they will be MERGING TIPP and TOPP by the time I would be starting articles, anyone know what that's all about? Also, I know that South Africa places a huge premium on CAs over CFAs, but is this really the same overseas?
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surfer
Regular Contributor
CFA,how smart are you.The whole world and his wife is claiming on doing CFA but hardly any one passess and get the full charter.Level one has a 38% pass rate and thats the easy one.150 thousand people write it every year,my mates that I studied with that are smart are struggling.CA is easier in that sense but there a loads more CA's than CFA's.Internationally if you have Cfa you are going to do do well(maybe not right now but a few years time).
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Shaun_Siddall
Super Contributor
4th year - you doing your honours? Its is to late to change then. TOPP - you can do articles at a private bank/corporate etc. I believe you learn more by going the TIPP route - more exposure to various businesses and all aspects of that business from tax, control, IT etc. You meet more business leaders and learn alot more about various industries etc. CA vs CFA - CA can do most jobs a CFA does but CFA cannot be CA as somebody else mentioned. So it is quite a simple choice if you have the ability to go the CA route. Either way its not easy but well worth it once qualified.
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Shard
Super Contributor
In BBusSci Finance (CA option), 4th year is effectively your 3rd year in terms of Accounting. You dont do accounts in your first year and do Accounts 1 in 2nd, Accounts 2 in 3rd etc
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surfer
Regular Contributor
another thing are you planning on staying in sa
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Not applicable
Hi I did the CA and CFA. Must admit the CA opens many more doors than CFA and you definitely have a fall back position. Just think of articles as the opportunity to see various companies internal workings and corporate structures with free rein. I would advise the TIPP route with the big four if possible, you will be with a bunch of like minded people doing the time but making great connections. Remember most firms also have an international exchange programme at the end of year 3 of articles which is a definite bonus if you want to go somewhere with all the details sorted out before you get there. Hang in the mate....my last years i to questioned whether the effort was worth the tip they pay for your services in articles...believe me it is worth it once you done the time.....
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Not applicable
Go the ca route. Although you may not plan to do auditing, the subject helps you refine your approach to business, and most importantly risks facing a business/sector. Furthermore, serving articles at the right organisation gives you the nuts and bolts exoerience you need.
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