CFA (Certified Financial Analyst) CFA is short for Chartered Financial Analyst. Also known as "Chartered Financial Analyst".
Textual research crowd
Its examination focuses on the most advanced international financial theory and technology, including investment analysis, portfolio management, financial statement analysis, corporate finance, economics, investment performance evaluation and professional ethics. CFA qualification certificates are awarded to professionals in various investment fields, including fund managers, securities analysts, chief financial officers, investment consultants, investment bankers and traders.
Examination scope
CFA exam content is divided into three different levels, namely Level 1, Level 2 and Level 3. Examinations are held all over the world, and each candidate must complete three different levels of examinations in turn.
CFA qualification examination is conducted in English. Candidates should not only have financial knowledge, but also have good English reading ability. Successfully passing CFA course is an achievement, which can win the high respect of employers, investors and the whole investment community.
With the increasing number of CFA exam references, since 2003, the Investment Management and Research Association has increased the first-level exam from once a year to twice a year. In addition to being held in 65,438+060 test sites around the world in May/June, it will be held again in 23 regions including Singapore and Hong Kong in 2003. Therefore, from 2003, the first-level candidates will have two opportunities to take the exam.
Chinese mainland has set up examination rooms in Beijing, Shanghai, Guangzhou and Hong Kong in June, and Beijing, Shanghai and Hong Kong in June and February. China candidates generally feel that the exam is very difficult and expensive, and it costs at least 20,000-30,000 RMB to complete all the exams.
The contents of the examination are: ① moral and professional standards; ② Financial accounting; ③ Quantitative techniques; 4 economics; ⑤ Analysis of fixed income securities; ⑥ Analysis of equity securities; ⑦ portfolio investment management.
Career prospects
The world-renowned institutions that employ the most CFA staff include Merrill Lynch, Goldman Sachs, Morgan, Citigroup and PricewaterhouseCoopers. There is an urgent need for high-end financial talents: many companies clearly put forward that people with work experience and professional certificates (CPA, CFA, FRM) are preferred, especially foreign-funded institutions.
According to incomplete statistics, China will need150,000 professionals in the financial field every year in the next decade. At present, the employment prospects in China are very broad. The salary is between 500- 1 10,000. At present, in China, people in the financial industry basically work in a few relatively narrow and limited markets such as banks, stocks and futures.
The world financial institutions that most favor CFA people are Merrill Lynch, Citigroup, Morgan and so on. Compared with the financial industry in developed countries, with innovation and business expansion, it has penetrated into a very wide range of fields. Derivative products, fixed-income products, financial venture capital and PE-related fields all need a new generation of young people in China to expand.
The domestic financial investment analysis industry is also very short of talents, so many enterprises need to have professional certificates and relevant work experience when recruiting, especially foreign companies. According to incomplete statistics, China needs 6.5438+0.5 million talents in the financial field every year in the future, so the prospect of holding CFA certificate is very optimistic, and the annual salary is about 300,000-500,000 yuan.
FRM (Financial Risk Manager) Financial Risk Manager (FRM). It is a professional qualification of international professional risk managers. Certification and examination of Global Risk Management Association (GARP).
Three thresholds
Threshold one: the exam is more difficult. The examination subjects are comprehensive, covering market risk, credit risk, operational risk and corporate governance. But also involves modern management, finance, economics, quantitative statistics and many other disciplines, and the knowledge structure is complex. Therefore, candidates need to undergo strict professional training, otherwise it is difficult to understand the complex quantitative relationship and the risk nature of business and products.
Threshold 2: The examination cost is higher. With a wide range of knowledge, the reading volume of textbooks and review materials is about 6.5438+0 million pages, so candidates spend a lot of time reviewing.
Threshold three: it is not easy to obtain qualifications. The application conditions of FRM certification examination are relatively relaxed, and there are no restrictions on candidates' academic qualifications and industries, and college students can also apply. However, if you want to get the professional qualification certificate issued by GARP, you must pass many obstacles. First of all, you must pass the difficult FRM exam; Then have more than 2 years working experience in the field of financial risk or other related fields before you are eligible to apply to become a GARP member; In addition, it is necessary to sign a professional ethics convention with GARP in order to really get started and become a professional financial risk manager.
Certificate prospect
At present, the accounting and auditing departments of domestic financial holding enterprises, securities companies, investment banks and commercial banks, asset management companies, futures dealers, insurance companies and large enterprise groups have strengthened financial risk control, which has led to a sharp increase in the demand for financial risk management professionals in these industries.
It is understood that financial risk managers are highly paid. Participating in professional training and obtaining qualification certificates is a shortcut to becoming one of the hot talents. At present, major banks and foreign banks in China are in urgent need of recruiting talents with this certificate. The annual salary is above 300,000-500,000 yuan.
Although institutions and organizations are used to using extremely complex risk analysis models to manage, control and prevent risks, in fact, risk managers can use the skills of empirical criteria to quickly assess and control risks and test and test the assumptions and results of the analysis models. The FRM exam attaches great importance to these operational skills. In addition, FRM tests also test the risks, regulatory practices and credit risk concepts of different financial markets and various financial instruments.
With the rapid growth of the domestic market demand for financial risk management talents who are familiar with international practices and have professional qualifications, more and more financial practitioners will obtain certificates by participating in various financial certification trainings to enhance their personal competitiveness. However, it is not easy to get a certificate, and you need to do what you can.
ACCA (Association of Chartered Certified Accountants) The British Association of Chartered Certified Accountants (ACCA) was established in 1904. It is the leading professional accountant group in the world at present, and it is also the professional accountant organization with the largest number of overseas students and the fastest growth in student scale.
Examination qualification
1, a college student (undergraduate) recognized by the Ministry of Education, who has successfully completed the freshman course examination, can sign up as a formal ACCA student;
2. Anyone with a college degree or above recognized by the Ministry of Education can sign up as a formal student of ACCA;
3. 16 years old, you can register FLQ students first, and then become ACCA students after obtaining the business accounting certificate, and you can be exempted from AB, MA and FA courses.
Examination content
ACCA has developed a detailed syllabus, special teaching materials and supporting learning materials, and * * * owns 15 examination course, which is formulated by accounting and financial experts in British universities, with unified teaching materials, unified examinations, unified marking and unified grading standards. Examination rooms are set up around the world in March and September every year, and the examination time of each course is about 3 hours. The themes are arranged as follows:
With ACCA certificate, college students can realize their dream of studying abroad. Because ACCA can be recognized by many universities around the world, in Britain, such as university of dundee and the University of Exeter, many famous financial schools recognize ACCA, and students of ACCA can submit applications for further study to many famous universities, complete overseas studies and receive open education. After graduation, overseas study experience will also become the wealth of life.
In addition, ACCA's knowledge system is very comprehensive, including management, business, accounting, finance and other fields, which means that ACCA members have a wide range of employment directions. You can go to accounting firms specializing in accounting and auditing, international banks, investment banks and other financial institutions, or you can be employed in management positions of major multinational companies.
Compared with the technical accounting that has become saturated in China, ACCA exam focuses more on financial management, financial planning, budgeting and planning the direction and future development of enterprises. This is very different from the traditional exam-oriented education in China, but it is a very good supplement. It is an excellent opportunity for students who study traditional accounting skills to broaden their logical thinking and macro-vision.
According to the survey, in the recruitment work, most recruitment positions, such as chief financial officer, assistant to general manager, assistant to chairman, CFO, etc., may be attached with ACCA qualification requirements. These positions require job seekers not only to have basic professional knowledge in finance, but also to have the ability of financial analysis and financial management, as well as the ability to make professional financial reports for non-financial personnel to understand and implement.
As the largest professional accountant organization in the world, ACCA is recognized as "the passport of the international accounting community". At present, the status quo of the accounting industry is that financial accounting has reached saturation, so management accounting talents with ACCA certificates have always been favored by the world's top 500 enterprises and large well-known international and domestic enterprises. In China, * * * more than 400 well-known international and domestic enterprises are "recognized employers" of ACCA, such as BP, Unilever, Coca-Cola, Airbus and GE. And ACCA can get a good personal career development by working in these enterprises.
In addition, here is a statistic from Zhaopin. The general salary of ACCA is 2-5 times that of ordinary financial salary, and the annual salary is generally 300,000-800,000 RMB, and some even reach millions.
CPA (Certified Public Accountant) CPA (Certified Public Accountant) is the abbreviation of CPA. Refers to the employees who have obtained the certificate of certified public accountant according to law and are entrusted to engage in auditing, accounting consulting and accounting services.
Apply for qualification
China citizens with college education or above, or with intermediate or above technical titles in accounting and related majors, may apply for taking the national unified examination for certified public accountants; Persons with senior technical titles in accounting or related majors may be exempted from some subjects. Persons who have passed the national unified examination for certified public accountants and have been engaged in auditing for more than two years may apply for registration with the Institute of Certified Public Accountants of provinces, autonomous regions and municipalities directly under the Central Government.
Examination content
Since 2009, the CPA examination has been reformed. The CPA examination under the new system is divided into two stages.
The first stage is the professional stage, which requires passing six exams for five consecutive years.
The second stage is the comprehensive stage, which requires passing the comprehensive vocational ability test within five consecutive years. Only by passing the two-stage exam can you get a general certificate. It can be seen that the requirements for certified public accountants are getting higher and higher now.
Certificate prospect
At present, the qualification examination for certified public accountants is the most difficult among all kinds of qualification examinations in China, but fortunately it can be passed within five years, so the gold content of certified public accountants is very high now. Many large and medium-sized enterprises have positions such as chief accountant, financial manager, finance minister, chief financial officer, chief accountant, etc. These positions all need to hold a certified public accountant certificate. The salary of certified public accountants is more than 5000-8000 yuan per month in economically underdeveloped areas, and about 10000-20000 yuan in economically developed areas. If you set up an accounting firm in partnership, you will earn 1 million yuan a year. The prospect is bright, and so is the "money" scene!
Many people take the CPA exam because they can enter many units related to financial work after taking this certificate.
Maybe you don't have rich work experience after taking this certificate, but you must have the opportunity to work in a firm.
Of course, you can't just enter an accounting firm after taking the CPA exam. State-owned enterprises are the second choice for CPA candidates besides firms.
At present, the certificate of certified public accountant has almost become a necessary certificate for financial management of many large enterprises, and some state-owned enterprises have great demand for certified public accountants. Therefore, it is definitely a good choice to enter the state-owned enterprises after the betting meeting.
Seeing this, I believe that everyone has a more specific understanding of several popular certificates. As a member of the research army, being in Na Pianhai requires candidates to choose their own leap, believing that crossing the other side of Wang Yang is the destination that everyone hopes to reach.