B.Com (Bachelor of Commerce) is one of the most highly versatile, globally recognised, and in-demand undergraduate programs. Amity University offers a three-year online B.Com degree where students learn the basics of business and economics thoroughly. This results in endless career opportunities in finance and accounting.
Moreover, a B.Com graduate can become a Chartered Accountant (CA), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or Company Secretary (CS). There are many advantages to enrolling in the online course at Amity University. The university offers a specialisation in International Finance and Accounting, which helps students crack CFA and CPA exams.
This blog gives detailed information about the importance of online B.Com for CFA and CPA.
Looking for an Online Degree Scholarship? Amity University Online offers various options to make education more affordable, including:
- Sports Scholarship (CHAMPS):- For exceptional sports achievements
- Defense Scholarship:- For defense personnel and their families
- Divyaang Scholarship:- For Students with disabilities
- Merit-Based Scholarship:- For outstanding academic performance
- ISAT-Based Awards:- Based on Amity's flagship scholarship test
To help students achieve their goals without financial stress.
Get Complete Details From Expert
What is a Chartered Financial Analyst (CFA)?
The CFA is the most dignified position in the financial industry. Clearing the CFA exam is mandatory to pursue this career. After passing the examination, the CFA certification is offered by the institute based in the United States. The certification shows the candidate's expertise in the financial field. The CFA designation is globally recognised. This certification results in career advancement in finance sectors such as investment management, financial analysis, and so on.
CFA Exam Eligibility:
The CFA Institute has set some eligibility criteria for students before registering for the examination. The main eligibility conditions to consider include:
- A bachelor's degree is a must.
- Final-year students are also eligible for the exam.
- At least four years of professional experience.
- English proficiency and a valid passport are a must for international students.
CFA Exam:
The CFA exam has three levels, each having a pass percentage required for eligibility. Level one tests the basic knowledge of finance. The pass percentage ranges between 40% and 45%. Level two stresses the real-time application of financial concepts. The pass percentage ranges between 40% and 50%.
Level three contains portfolio management and essay-type queries. The pass percentage ranges between 50% and 55%. It is difficult at all levels. CFA exam preparation is all about self-study, where students must invest several months before appearing for the exam.
CFA Paycheck:
There are many high-paying career opportunities for a CFA in the finance sector. Investment banker, financial consultant, and financial analyst are typical job roles. The yearly salary of a CFA in India ranges between Rs. 6,00,000 and Rs. 20,00,000 and beyond, depending on the job role and experience. Thus, investing in the online B.Com CFA program is smart as it accelerates career possibilities in the financial industry.
What is a Certified Public Accountant (CPA)?
A Certified Public Accountant is a highly reputable position in the accounting and finance industry. In India, a CPA is an accounting qualification license provided by the American Institute of Certified Public Accountants (AICPA) and has been active since 2021. The CPA in India is equivalent to a chartered accountant.
CPA Exam Eligibility:
- A bachelor's degree in accounting or a related field.
- A master's degree to fulfil the 150 hours of the semester.
- One or two years of work experience.
CPA Examination:
The CPA exam must be cleared within 18 months to earn a CPA license. The exam has four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).
CPA registration is an online process where the candidate must pay the international evaluation application fee and then register and upload the required documents to NASBA. After evaluation by NASBA, candidates can register and pay the exam fee.
CPA Career Opportunities and Paycheck:
CPAs can work in private or government sectors, public accounting firms, or nonprofit organisations. Financial analysts, auditors, tax consultants, or CFOs are some of the job roles a CPA can pursue. They get competitive salaries due to the unusual demand in our country. For instance, an entry-level and mid-level CPA earns around six lakhs to twenty lakhs per annum. The salary increases with experience.
Also Read:- Debit Note and Credit Note in GST: Key Differences Explained
CFA Vs. CPA
Both CFA and CPA are prestigious certifications in the financial and accounting sectors, providing different career opportunities and variable salaries. These are some of the core differences between the CFA and the CPA. The table below highlights the key differences between both the examinations:
How Helpful is an Online B.Com Degree for Cracking a CFA or a CPA Exam?
The CFA and the CPA are highly reputed positions in the finance and accounting industry. The online B.Com specialisation in International Finance & Accounting by Amity University provides in-depth knowledge of the fields. It opens doors to career opportunities within the financial and accounting sectors, making it one of the best degrees for CFA and CPA certification. Here are some of the benefits of this program for cracking the CFA or CPA exam:
- Amity Online's B.Com curriculum covers core subjects like Accounting, Financial Management, and Economics, providing a solid theoretical base essential for both the CFA and CPA exams.
- The online learning model at Amity Online allows students to manage their time efficiently. It enables them to pursue CFA or CPA exam preparation alongside their degree.
- This online program is designed in alignment with industry needs, offering exposure to global finance principles, taxation, and auditing. These are some of the concepts that are highly relevant to the CPA and CFA exam syllabi.
- Students benefit from expert faculty guidance, digital libraries, recorded lectures, and webinars, which help clarify complex topics that are part of both professional exams.
Take the next step in your career ?
Conclusion
A CFA or CPA certification can enhance career prospects, and salaries can hike by 50-100% compared to non-certified candidates. Thus, graduates need to plan their careers after B.Com very skillfully. Those who want to become a certified CFA or CPA and accelerate their jobs to a higher level must enrol in the Bachelor of Commerce with a specialisation in International Finance & Accounting at Amity University.
Visit the Amityonline for complete information on the offered courses and their application process.
