Author Post
Topic Directions CFA can take you
cowboys
@2018-07-01 12:37:01
Thinking very seriously about doing CFA1. I am in an "analyst" postition that I feel is dead-ended - it is also focused on internal cost controls (I am basically a controller). My position has some room for responsibility growth, but very limited. As far as I can see, there is not an obvious tie to CFA topics, but I know very little compared to some of you.

I want to sit for CFA1 to expand my knowledge and open doors down the road. In order to get my boss to pay for it, I am going to need to tell him specifcally how it will benefit my current position. Any thoughts on how I could tie the various topics covered in CFA1 back to a controller-type position?

Also - what types of companies (and positions) are explicity seeking CFA candidates other than the investment world?
master55
@2018-07-09 09:19:52
nobody is specifically seeking a CFA charterholder, its basically bells and whistles on a resume if you're qualified. it will help u in that u will learn some sht and want to leave that jb even more so the only help it will be will prob me to motivate u more when u realize what else is out there. as for ur boss just tell him the cfa will help u understand the products u guys report on which will help u better interact w/ front office, etc and hjelp them and be more efficeint. some bullsht in that vein would help.
weewolf
@2018-08-22 16:59:42
Hi cowboys, if you could expand a little on your background (major,minor subjects & accounting knowledge/qualifications if any) and exactly what your job as a Controller involves it might be easier for others to answer your basic question- and what are your longer term ambitions?

With the little info you have provided I suspect you could be good candidate to seek CFA designation. I presume you have a reasonably analytical mind.

As to near term benefits for your work:

From CFA Level 1 if you presently have a limited accounting knowledge you should develope a pretty good appreciation of Income Statements, Balance Sheets and Cash Flow, including quite a bit on ratio analysis. Interestingly there is not a great deal on cost allocation methods for such as Overheads etc but inventory methods do feature.

If you lack a background in statistics then the quantitative areas including probability, sampling, regression etc could well have application to your work. It would be up to you to see how!

There is a great deal of use of Discounted Cash Flow techniques across the patch.

If your Economics understanding is poor then the basic syllabus on micro and macro economics could well be useful for your work.

Most of the rest is directed more towards broader financial understanding of corporate financing, the securities markets and procedures for valuing debt and equity securities, leading on to formulating and managing portfolios for investment purposes.

CFA Level2 builds on but again does much of the above applying it to realistic situations; Big emphasis on both valuation methods and application, and making presentations of accounts comparable both domestically and internationally.


CFA Level3 I have not got to yet but it appears to give much greater emphasis to portfolio management and selecting and meeting investment objectives including in a Financial Advisory role. Overall probably requiring more judgement than pure application.

Hope this is some help as to initial possible synergy to your present job and the general direction of the qualification. Others may see it quite differently!

You can find a lot on the CFA web site including all levels of syllabus - go look for yourself.

Altogether you will need to be pretty disciplined over several years to complete the qualification.