Update on 2024-04-15
What is FCA: The full Form of FCA is Fellow Chartered Accountant. FCA is a designation that is given to a Chartered Accountant. Once a candidate completes CA, the candidate is called Associate Chartered Accountant. FCA is designated to those candidates who have achieved a higher level of professional experience.
In general, there are two types of chartered accountants - Fellow Chartered Accountants (FCA) and Associate Chartered Accountants (ACA). Both FCA and ACA can be members of ICAI (Indian Council of Chartered Accountancy). Simply, FCA is one who holds a certificate of practice for more than five years whereas an ACA holds a certificate of practice for less than five years.
Full-Form |
Fellow Chartered Accountant |
Duration |
1.5 - 4 years |
Exam Frequency |
Level1: Twice a year (June and December) Level 2&3: only once (June) |
Conducting Body |
FCA Institute |
Exam Level |
Exam to become a Chartered Accountant |
Eligibility |
Bachelor's degree in a relevant discipline or four years of work experience |
Examination Mode |
Computer-based |
The full form of CFA has Chartered Financial Analyst. CFA is the most required design for investment professionals. CFA is a globally recognized professional credential in Financial Management and investment provided by the CFA Institute. The CFA course is known as the world’s most respected and recognized designation in investment management.
Candidates who pursue the CFA course acquire in-depth knowledge of the investment industry. This will increase their probability of getting a high-paying job. In India, Industrialisation and globalization are increasing the demand for CFA.
Aspirants who want the CFA institute certificate have to qualify in three levels of examination which are conducted by the CFA Institute:
CFA exams are conducted in the areas of Accounting, Economics, Security Analysis, and Money Management. Level I exams are conducted in the month of June and December and Levels II and III are only conducted in the month of June. now let us know the Full form of FCA and CFA
CFA Highlights |
|
Full-Form |
Charted Financial Analyst |
Duration |
1.5-4 years |
Exam Frequency |
Level1: Twice a year (June and December) Level 2&3: only once (June) |
Conducting Body |
CFA Institute |
Exam Level |
International exam to become a CFA Chartered |
Eligibility |
Bachelor's degree in a relevant discipline or four years of work experience |
Examination Mode |
Computer-based |
The full form of FCA is a Fellow Chartered Accountant. The main purpose of the FCA is that it will operate as a financial regulatory body in the United Kingdom but act independently in the UK Government. FCA is financed by charging fees to the associates of the financial service industry. The FCA operates the financial firms by giving services to the consumers and maintaining the integrity of the financial markets in the United Kingdom.
FCA was formed on April 1, 2013. It has headquarters at 12 Endeavour Square London. FCA mainly focuses on the regulation of conducting both retail & wholesale financial services firms. FCA is mainly responsible for conducting 58,000 businesses that employ 2.2 million people and also, and it contributes around 65.6 Euros billion in tax revenue to the economy in the United Kingdom.
The full form of CFA is a Chartered Financial Analyst. CFA Institute was established in the year 1947. Over more than 70 years, the CFA course has appeared as the benchmark qualification for the investment industry. Around the world, CFA has grown to over 150,000 charter holders in more than 165 countries. Today, these charter holders work as Equity Research Analysts, Portfolio Managers, Fund Managers, Wealth Managers, CFOs, and Risk Consultants.
FCA VS CFA |
||
Parameters |
CFA |
FCA |
Job profile |
Charted Financial Analyst or CFA Charted |
Chartered Accountant |
Conducting body |
Chartered Financial Analyst |
Chartered Accountant |
Details |
CFA is a program that provides regular training & education in the field of finance and also in investment analysis. CFA exam can only be cleared after the three levels, i.e., Level 1, level 2, and level 3. |
FCA is a certified qualification in the field of commerce and accountancy. FCA can be obtained after qualifying many rounds, i.e., CA Foundation, CA intermediate, and CA Final. |
Time to qualify |
1.5-4 years |
4-5 years |
Global Recognition |
Yes |
No |
Registration fees |
INR 1-2 Lakhs |
INR 1 lakhs |
Salary package |
INR 12-20 Lakhs |
INR 7-20 Lakhs |
The eligibility criteria for both the FCA and CFA courses are the same. Given below are the eligibility criteria for both courses. Have a look.
Important Dates |
||
Important Events |
June |
December |
Registration Starts |
August |
February |
Deadline for Early Registration |
October |
March |
Deadline for Standard Registration |
February |
August |
Late Fee Deadline |
March |
September |
Name of the Institute |
City |
Average Fees |
Central India Institute of Management Studies (CIIMS) |
Jabalpur |
INR 32,500 |
International College of Financial Planning (ICOFP) |
New Delhi |
INR 40,000 |
Narayana Business School |
Ahmedabad |
INR 1,25,000 |
International College of Financial Planning (ICOFP) |
Kolkata |
INR 40,000 |
Shri Chimanbhai Patel Institute of Professional Training (CPIPT) |
Ahmedabad |
INR 66,000 |
Particulars |
Details |
Morning Session |
120 Questions |
Afternoon Session |
120 Questions |
Duration |
3 Hours for each session |
Question Type |
MCQ |
Exam Month |
The first week of June and December |
Average Pass Percentage |
43% |
Particulars |
Details |
Morning Session |
60 Questions in 10 Case Studies |
Afternoon Session |
60 Questions in 10 Case Studies |
Duration |
3 Hours for each session |
Question Type |
MCQ based on caselet |
Exam Month |
The first week of June |
Average Pass Percentage |
45% |
Particulars |
Details |
Morning Session |
Essay Type |
Afternoon Session |
60 Questions in 10 Case Studies |
Duration |
3 Hours for each session |
Question Type |
Essay + MCQ |
Exam Month |
The first week of June |
Average Pass Percentage |
56% |
Topics |
Description |
Quantitative Analysis |
Deals with Descriptive Statistics, Probability Theory, and Investment decision-making aspects. |
Financial Reporting Analysis |
This gives you a thorough explanation of the financial reports along with their standards and procedures. |
Ethics |
It gives details about ethical behavior and the need for professionalism in the investment market. |
Equity Investment |
Describes the security markets, indexes, and equity investment areas of the economy. |
Fixed Income Analysis |
Helps you to Learn about the fixed income securities, factors risking it measures to maintain it and their measurement techniques |
Economics |
Economics with the supply and demand analysis of individuals and firms. |
Derivatives |
Derivatives subject helps in understanding the basics of derivatives and their market. |
Portfolio Management and Wealth Planning |
Portfolio Management and Wealth Planning help with the proper understanding of the fundamentals of portfolio management and wealth planning. |
Corporate Finance |
It briefs you on the corporate governance aspects. |
Alternative Investment |
This includes discussion on hedge funds, private equity, real estate, infrastructure, and others. |
Job Position |
Description of the Job |
Salary |
Chartered Financial Analyst |
Chartered Financial Analysts are responsible for analyzing financial portfolios and creating recommendations on the basis of the same. Chartered Financial Analyst set financial goals and identifies the key steps to achieve them. |
9.35 LPA |
Business Consultant |
The business Consultant's role is to look after the business problems and suggest possible solutions. It also Analyses the company’s financial statements and then helps them in meeting future goals. |
9.86 LPA |
Market Research Analyst |
The research Analyst's job is to examine the given data and provide the employer with a meaningful interpretation. |
6.50 LPA |
Investment Manager |
Investment Manager manages and suggests plans to their clients which helps clients to make money and fulfill their financial goals. |
7 LPA |
Portfolio Manager |
A portfolio Manager usually manages the investment and financial status of private clients. |
8 LPA |
Private Bankers |
Private bankers keep up the relationship with the bank’s clients and monitor their needs. Private bankers also provide credit, loans, and other solutions to the client. |
8.58 LPA |
Risk Manager |
The risk Manager basically analyzes the risk in the market, prepares a specialized plan for it, and then executes the plan to reduce the level of risk facing. |
10 LPA |
Chief Executive Officer |
Chief Executive Officer is the one who is truly responsible for all the vast decisions related to the business. They plan to get the better of the goals. |
41 LPA |
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