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I have my CPA and currently studying for CFA lvl 2. In my experience the CFA is a lot harder. For context the CFA level 1 had more material than the entire CPA combined (all 4 parts ). And if not mistaken the CFA has a much lower pass rate. However, the CFA does cover more interesting finance concepts. FYI using Kaplan to study for the CFA. This is an equivalent to Becker for the CPA. Happy to answer any questions
Yes, there's like 10 sections of study in level 1 alone
All depends on your interest. CFA covers more material, and requires more critical thinking, and will take more out of you. CPA, on the other hand, is relatively easier because it covers lesser material. However, personally, the CPA is more boring.
I don’t remember exactly what’s on REG but tax concepts are covered on the CFA but they may not be in the same manner. They’re certainly mentioned in level 3. The audit section does mention type 1 and type 2 errors for audit sampling which is a statistical concept that’s covered on the CFA in relation to choosing portfolio managers. A bit of a reach there but you’ll have bits and pieces I’m sure. The issue from an FDD perspective is that you’ll never get to use most of the concepts learned to their full capacity. And unless you get to practically apply what you’ve learned, your memory of the content will fade over time. The CFA is a great way to learn the concepts so I take nothing away from any who wants to give it a go but unless it’s a requirement or you’re trying to leverage the exams to get yourself into a relevant job you’re going to have to really enjoy the material and studying.
If you have the option go for it. CFA is interesting and challenging imo. You don’t have to make it through all three levels if your goals change. Even passing level 1 gives you a decent baseline and I do think it’s relevant to FDD even if others disagree.
I’ve done CFA and ACCA (UK equivalent of CPA).
CFA is definitely harder in the sense that each level covers a lot of different topics (think 8 exams rolled into 1) so while each topic may not be in full depth like you there is still too much going on.
Also I would think CFA is a lot more demanding in terms of your time but atleast with 2 exam cycles each year people can be more relaxed about exam dates.