July 23, 218

Which should the ACCA, CPA and CFA choose for students who want to work in investment banking in the future?

There has been an inspirational story in the financial circle, and it has become the dream of most students majoring in finance and accounting to work in investment banks, the Big Four and the world's top foreign companies after graduation. Being able to have relevant certificates in college is also considered as a stepping stone to the dream company in the future. So how should students who want to work in investment banks choose which certificate to take?

At present, the three most well-known and recognized certificates in China's accounting field are ACCA, CPA and CFA. It can be said that these three certificates are well-deserved stepping stones in the financial circle, and they are also among the most difficult certificates in the financial circle. Let's analyze and compare them respectively:

1. CPA

As we all know, CPA is a necessary certificate for the elites in Chinese mainland's accounting field. CPA exam consists of six specialized courses and one comprehensive exam, which is relatively difficult and involves deep professional knowledge, so the passing rate of CPA exam is relatively low. The main tasks undertaken by CPA include auditing the accounting statements of enterprises, verifying the capital of enterprises, and handling audit services such as enterprise merger, liquidation and listing. Generally speaking, CPA is very useful in China at present. First of all, CPA is the most applicable in the CPA industry, and it is a necessary certificate for accountants working in accounting firms. In investment banking, CPA talents are also needed, and there are also many statements signed by CPA in investment banking business. However, CPA can't apply for the exam during the undergraduate period, and can only take the exam after graduation, and there is only one exam opportunity a year, so if you want to get the CPA, you should plan ahead.

2. ACCA

ACCA is a registered accountant in the UK. Compared with CPA, its subjects cover a wider range and tend to cultivate financial people's thinking and logic. There are 13 examination subjects, and there are four examination seasons in a year. Many students are discouraged at the sight of 13 exams, but ACCA exams can be taken four times a year. If it is successful, it is easy to get ACCA certificates within three years. And ACCA does not require a bachelor's degree, that is, if you have made a good plan for your future career development, you will have no problem taking the exam from freshman year. Moreover, ACCA is different from CPA in that it covers more comprehensive contents and can help accountants to have more divergent and decision-making leadership thinking besides professional knowledge. Moreover, ACCA has also become a popular certificate for students who are determined to go to the big four and multinational famous enterprises during their college years. Xiaobian sends another test data package, which can be shared with friends, self-raised, stamped: ACCA data novice guide+internal handout+analysis audio

3. CFA

CFA certificate, that is, chartered financial analyst, is currently the strictest and most valuable qualification certification in the global investment industry, and is called the first financial test, which sets norms and standards for the global investment industry in ethics, professional standards and knowledge system. CFA has two exam seasons every year. Exam 1 is divided into three levels, and candidates need to complete three different levels in turn. The examination covers a wide range of financial knowledge, while examining the latest financial market-related knowledge and the latest research results in the financial field. The difficulty of the exam increases with each level. Although it is not a registered exam, it is extremely difficult to pass Level II and Level III. CFA has always been regarded as a must for investment banks, and it is a certificate that many students who dream of working in investment banks are determined to win. Compared with CPA and ACCA, CFA is also a certificate that is more suitable for working in the financial industry.

Summary:

The next three certificates are briefly explained. Let's make a comprehensive comparison of these three certificates' help in entering the investment bank. First of all, it should be clear that CPA and ACCA are biased towards accounting, while CFA is biased towards finance. If the goal is to enter the investment bank, CFA can undoubtedly be your admission ticket; In the future, ACCA will be a big plus if it is biased towards the accounting field of the big four or foreign companies; In the future, CPA is an indispensable condition if you want to become an accounting elite among domestic brokers, firms or state-owned enterprises. However, my personal suggestion is that no matter whether you want to enter an investment bank or the Big Four, you can learn ACCA to lay a solid foundation during your undergraduate period, enhance your logical thinking as a financial person in the future, and also enhance your English ability. It will be much easier to learn CPA or CFA in the future, because CFA is still very unfriendly to Xiao Bai or students with weak foundation. Moreover, CFA can only register in the last semester of junior year, while CPA can only take the exam after graduating from undergraduate course. Therefore, taking the ACCA in college can not only enhance your soft power, but also prove that you have not wasted your time in college, but choose to learn more knowledge to enrich yourself, which will also become a stepping stone for you to enter your favorite company.

I would also like to remind you that it is not a guarantee that you can successfully enter the investment bank with a certificate, not to mention that the threshold for domestic investment banks is generally above graduate students from prestigious schools. And you should be clear about what your choice will make you face. In fact, it is by no means easy to take any of these three certificates. It takes determination and perseverance. If you can't make yourself strengthen your soft power while taking the certificate, even if you take the certificate, you may not even see the door of the investment bank. Therefore, I personally think that we should lay a solid foundation step by step in researching this matter. If we really want to enter the financial circle, contacts and emotional intelligence are also essential.

I hope the above analysis is helpful to everyone, and I wish everyone can become the talents they want to be in the future! Xiaobian sends another exam package, which you can share with your friends. You can mention it yourself and poke it: ACCA information novice guide+internal handout+audio analysis

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