Even though the two courses CFA and ICWAI are finance and account related courses, they differ in many aspects.

CFA Course

CFA is a graduate level programme which includes the study of investments and financial analysis. The Chartered Financial Analyst programme is offered by the non-profit group CFA institute. It includes the world’s largest union of investment professionals. Through this programme, students are able to acquire practical and theoretical knowledge. This will help them to achieve a broad range of career in the field of investment profession. After completion of this course, these professionals can look out for jobs in public as well as in private firms. Most of these CFA professionals work in the financial related sectors such as insurance companies, banks, etc.

ICWAI Course

The ICWAI programme is offered by the Institute of Cost and Works Accountants of India. The programme includes three stages of courses. They are the foundation, intermediate and the main course. Those qualifying all these stages can become a cost Accountant or ICWA’s. The examination of ICWA is organized twice every year, usually in the month of June and December. On qualifying these examinations the ICWA’s can find employment in the government sectors and as well as in the private sector. Some of the job profiles in this sector include cost accountant works, creation of government policies, etc. Other employment areas for the cost accountants include financial institutes, banks, insurance firms, MNC’s, and so on.

Key Difference between CFA and ICWAI

The key difference between these courses is that CFA is the graduate programme offered by CFA institute which the Global Association of Investment Professionals whereas the ICWAI programme is offered by the Institute of Cost and Works Accountants of India. Another difference between them is concerned with the course content that is CFA covers the technical and practical sessions in the finance area whereas ICWAI focuses more on the Cost Accounting works.

Which course is better?

Both these course are the self-learning programmes which gives a strong base in the finance and accounts areas. Through these courses, students may be self-reliant to work in the upper-most designations of the organizations which deal with the finance and accounts works. Both the professionals have immense career opportunities in public and private sectors. Candidates opting for the ICWAI courses have to qualify the crucial three stages of examinations to become a professional in this field and for this they need various skills also. CFA also includes study of many investment principles. So it is better to choose the ICWAI course for a bright career.