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This question is about what an accountant does.
CFA vs. CPA
A CFA is a chartered financial analyst who has completed the requirements of the program set out by the CFA Institute, while a CPA is a certified public accountant that has been certified by the American Institute of Public Accountants (AICPA).
A CFA typically scrutinizes financial reports, most often financial statements, and puts together those reports or audits them. CFAs are best known for their participation in investment analysis and wealth planning.
CPAs are most often associated with taxes, audits, and accounting and can provide counsel on how to reduce the amount of taxes a company or client will owe each year. In addition, if a client is worried about a possible IRS audit, a CPA is adept at minimizing the chance of such an audit. If the audit does occur, a CPA can represent the client.
Here are the key differences between a CFA and a CPA:
| A CFA is a certified financial analyst. | A CPA is a certified public accountant. |
| A CFA must complete the requirements of the program set out by the CFA Institute. | A CPA gains certification from the American Institute of Public Accountants (AICPA). |
| A CFA analyzes financial reports and puts them together or audits them. | A CPA is a tax specialist who most often deals with taxes, audits, and accounting. |
| A CFA participates in investment analysis and wealth planning. | A CPA can represent an individual or company in the event of an IRS audit. |
| A CFA earns an average salary of approximately $180,000 per year. | A CPA earns an average salary of $110,095 per year. |
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