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life changing decision!!!!!!

chintan (practising CA) (229 Points)

16 August 2010

I have one question for which I am consulting all senior members of caclub.

I have cleared PCC in June 09 (1st attempt) , just recently cleared TYBCom(84%).

Now My CA final attempt is due in May 2011. Just recently , I thought I wanna do CFA. The bigger thought was I wanted to do it super fast!

So now my plan goes as follows:

Attempt CFA level 1 in dec 2010, Level 2 in June 2010, CA final in nov 2010 and CFA level 3 in June 2011.

This way, I am giving myself 5 months of study for CA final and 7 months of study for CFA L-3.

What do you think? Should i Risk(postpone) my CA final so that i become CA,CFA at 22 ?!

Or like the elders say: Be patient and go slow!! Attempt CFA L-1 in dec 2011 and complete CFA in june 2012.

Do you think CFA is manageable to be done in consecutive attempts?

Please reply.....Last date for filing CFA form is 24/08/2010.

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11 Replies

chintan (practising CA) (229 Points)
Replied 16 August 2010

The longer I think about this, the more I am conveinced to do CFA this december.

But then logic from my friends stops me to take this decision ..hence I am asking you all now!!

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Keshav Gupta (Articleship) (40 Points)
Replied 16 August 2010

hi chintan .. i have the same condition but have not yet cleared my b.com exams .. but as per my views CA FINAL is something which cannot be taken lightly.. and above all we need 2 years work experience before appearing in L-3.. SO, we should postpone CA FINAL 6 months and then we should appear for L-3..that would be the perfect judgement in my opinion and as far as i think that is possible.

Keshav Gupta (Articleship) (40 Points)
Replied 16 August 2010

we should give CFA EXAMS this DEC only.. don't postpone this .. L-1 is not so difficult..

chintan (practising CA) (229 Points)
Replied 16 August 2010

Originally posted by : Keshav Gupta
	we should give CFA EXAMS this DEC only.. don't postpone this .. L-1 is not so difficult..

thanx....L-1 is not difficult,, but what about L-2? Will i be able to clear it with 4 months preparation..??

Or it will be better if i take L-2 after clearing CA final so that some topics get automatically cleared out..?

chintan (practising CA) (229 Points)
Replied 16 August 2010

The main constraint is the cost......!!

saala first exam ka 50000 lete hai..!!!

if it would have been any other university exam , i would not have thought..!!

but ...yahaan toh ek attempt laga toh phir se 35000 gone!!

thats what worries me!

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chintan (practising CA) (229 Points)
Replied 16 August 2010

Originally posted by : Keshav Gupta
	hi chintan .. i have the same condition but have not yet cleared my b.com exams .. but as per my views CA FINAL is something which cannot be taken lightly.. and above all we need 2 years work experience before appearing in L-3.. SO, we should postpone CA FINAL 6 months and then we should appear for L-3..that would be the perfect judgement in my opinion and as far as i think that is possible.

are u sure about 2 years work experience for L-3??

please gimme the link if you have it....CFA ke website pe toh nahi mila.!!

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
Replied 16 August 2010

Dear All, Good discussion going on.

Plans are great, but Just remeber one thing.......josh ke saath Hosh bhi Jaroori hai........

And Guys, Exp. is not required for L-3 exams.......

chintan (practising CA) (229 Points)
Replied 17 August 2010

guys, thanx for responses!!!

anyone else with experience can comment here!!

please ,,be urgent!!

Rohit ([ ] ) (1140 Points)
Replied 19 August 2010

I don’t know if I would qualify as 'senior member ‘ but here are my views:

Just focus on your CA-Final for now. You have your PCC in 1st attempt, focus a bit more on your CA Final and try to be a first attempt CA, if you get a rank even better

For CFA- what is the hurry? First, the study pattern, concepts, content in CFA, all are very different from your CA-Final so there is no synergy in terms of doing these courses together except at some places where you can leverage your CA knowledge for CFA L1.

Second, this is a bit cheap but…still most of the good companies would sponsor your CFA if you start after joining employment so why spend 1-1.5 lac for it if you can get your company to pay for it.

If you are still not convinced and still want to start with CFA, I would say go for Level 1 in December this year but then Jan onwards focus on CA Final and do not go for Level 2 in June. You can do it in 4 months but you should not do that at the cost of your CA Final.

Finally, most of the people who have CFA in India are having either CA+CFA or MBA+CFA, so for your CFA to be competitive in India, you would still want your CA to finish first and you cannot use CFA credentials until you have applied for the CFA charter which ‎requires minimum 48 months of qualifying experience and articles would not count. ‎

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Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
Replied 19 August 2010

Originally posted by : Rohit
	I don’t know if I would qualify as 'senior member ‘ but here are my views: Just focus on your CA-Final for now. You have your PCC in 1st attempt, focus a bit more on your CA Final and try to be a first attempt CA, if you get a rank even better For CFA- what is the hurry? First, the study pattern, concepts, content in CFA, all are very different from your CA-Final so there is no synergy in terms of doing these courses together except at some places where you can leverage your CA knowledge for CFA L1. Second, this is a bit cheap but…still most of the good companies would sponsor your CFA if you start after joining employment so why spend 1-1.5 lac for it if you can get your company to pay for it. If you are still not convinced and still want to start with CFA, I would say go for Level 1 in December this year but then Jan onwards focus on CA Final and do not go for Level 2 in June. You can do it in 4 months but you should not do that at the cost of your CA Final. Finally, most of the people who have CFA in India are having either CA+CFA or MBA+CFA, so for your CFA to be competitive in India, you would still want your CA to finish first and you cannot use CFA credentials until you have applied for the CFA charter which ‎requires minimum 48 months of qualifying experience and articles would not count. ‎

Thanks rohit..Very rightly Guided.........I totally agree with you. Just need to say one thing, it happens that many company sponsors, but in that case you need to stick with that company for a while, so take that into als0 consideration.

Thanks Rohit.

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chintan (practising CA) (229 Points)
Replied 20 August 2010

Originally posted by : Rohit
	I don’t know if I would qualify as 'senior member ‘ but here are my views: Just focus on your CA-Final for now. You have your PCC in 1st attempt, focus a bit more on your CA Final and try to be a first attempt CA, if you get a rank even better For CFA- what is the hurry? First, the study pattern, concepts, content in CFA, all are very different from your CA-Final so there is no synergy in terms of doing these courses together except at some places where you can leverage your CA knowledge for CFA L1. Second, this is a bit cheap but…still most of the good companies would sponsor your CFA if you start after joining employment so why spend 1-1.5 lac for it if you can get your company to pay for it. If you are still not convinced and still want to start with CFA, I would say go for Level 1 in December this year but then Jan onwards focus on CA Final and do not go for Level 2 in June. You can do it in 4 months but you should not do that at the cost of your CA Final. Finally, most of the people who have CFA in India are having either CA+CFA or MBA+CFA, so for your CFA to be competitive in India, you would still want your CA to finish first and you cannot use CFA credentials until you have applied for the CFA charter which ‎requires minimum 48 months of qualifying experience and articles would not count. ‎

Thanx a Ton SIR....!!!!!!!!!!

unfortunately for me....i read your post a bit late.....

Just got registered for L-1 yesterday!!!

Even i was thinking of going only for CA final in may 11 and CFA -L 2 in june 2012.....

So now, already spent/invested/wasted - (only time will tell!!) Rs.51706.45......i have no other option but to study....

Hope the big amount brings some sincerity with it!! :P

best of luck to other guys also!!

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