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Tax Accountant - worth getting CFA?

  • Last Updated:
  • Oct 26th, 2019 5:08 pm
[OP]
Jr. Member
Oct 9, 2009
133 posts
106 upvotes
Vancouver

Tax Accountant - worth getting CFA?

I am currently a designated CPA who is looking at other options of study. I'm also currently in the tax-in-depth program.

Would the CFA be beneficial in my line of work?
6 replies
Deal Fanatic
Sep 23, 2007
5061 posts
1158 upvotes
Nyalist wrote: I am currently a designated CPA who is looking at other options of study. I'm also currently in the tax-in-depth program.

Would the CFA be beneficial in my line of work?
The best thing you can do is find a way to get into public practice. Work under someone for the experience. Later open up your own firm. If you've worked with enough clients, you might develop a reputation and can grow from there.

CFA is completely useless if you are aiming to be a public tax accountant. I think if you want to get into tax, public practice is the way to go. A lot of large companies don't rely on in-house accountants to handle the tax issues. Usually using an external firm to do tax work. At best a very small department even for a large organization.
Sr. Member
User avatar
Jun 6, 2013
519 posts
529 upvotes
Toronto, ON
Why in the hell would you get a CFA as a tax accountant
Deal Fanatic
Jun 7, 2005
8938 posts
719 upvotes
I know a friend who got MBA, CMA, and CFA , and tried getting into Investment Banking but didn't succeed......

Until you can get a job in Investment Banking, why would OP want to get a CFA in tax accounting field ? OP can focus your study and career in tax accounting. I heard you can make pretty good money if you are tax expert working for big corp.
Deal Addict
Apr 7, 2011
1898 posts
418 upvotes
I'd say no, it's not worth it. The thing with CFA is that it's very hard to get the required work experience to qualify post exams.

Where CFA and CPA with a tax emphasis could be useful is in ultrahigh net worth portfolio management. Even if you're not client facing there are a few opportunities there.

You're better off practicing in a big four firm for a few years doing taxes then considering branching out with a CFA.
Jr. Member
Oct 27, 2018
123 posts
52 upvotes
I'm a senior manager in tax at a big 4 firm.

You dont need a CFA. It's a waste of money and time. People I know just have a CPA.

The only course you need to take is Indepth from CPA.

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