i had been going through the discussions for a long time.. I am a software pro considering a career in finance in the long run. right now i am into SAP implementations and support
I have some questions in mind
a) Why CFA ICFAI when there r options for CFA AMIR. or are there any stipulations reg. AMIR.I have heard that they need a work ex in the mentioned areas or else they refrain from granting the CFA charter.
b) For those aspiring for MBA Finance (DLP) i think when u do a DLP program its all the same where u do it from ... on the contrary a CFA gives u a charter.
Now the question...... is this charter valid in other countries Okay do not consider US or Canada but wht about other places. UK, Middle east, australia , other europe
babu and tumtum pl. get to my queries as i am in tune to start off with a CFA
regards Visions
Hi vision,
1)After you clear CFA AIMR L 3, i think you need 4 years experience to get CFA charter. 4 year relevant analyst or associate experience. But you have passed CFA AIMR examns and that holds value.
2) Yes the CFA charter from ICFAI is valid in all countries except US and canada. In India, ICFAI patented CFA charter in 1991.
Thanks there very much Babu for the information !!
Will keep asking more questions.....
Are there any updates on the legal war between ICAI and ICFAI ?
Isnt the word "chartered" the bone of contention.
Is it likely that ICFAI would eventually loose the case as ICAI was formed by the Act of Parliament unlike ICFAI, which puts ICFAI at disadvantage !
In case ICFAI looses what will the CFAs stand to loose ?
Who do you think stands a better change at being a CFO, a CA or a CFA considering that a CFA has no authority in signing the balance-sheet of a company and does not have the indepth knowledge of accounting and taxation ?
first a CFA is not supposed to sign balance sheets
ICAI ( Institute of chartered accountants of india) CHARTER is an exclusive charter in ACCOUNTANCY which is no where Finance..yes certain instruments of accountancy are used for financial analysis.
question is do we have a similar body in financial analysis And is that body CCFA THE COUNCIL OF CHARTERED FINANCIAL ANALYSIS (INDIA) visit the site www.ccfaindia.org they are the people who is supposed to grant the CFA charter after ICFAI CFA.
MS Finance degree from ICFAI is not the concern okay ... u get it after u clear all their levels.....
point is the charter .... because a charter cannot be given by an university Only a goverment body can issue this ... why ?
because this is not a degree... this is a kind of licence ....
one who has this govt. licence in accounting is called a CA and can practice accounting as n individual .. his name is regfistered as a practicing accountant. And the govt. imposes certain restrictions on them else their membership is cancelled.
so shall we consider the CFA ICFAI as such a licence to practice financial analysis..in india can u use the words 'CFA' after ur name...in India....
BABU AND TUMTUM please . get back u see these questions are the foundations for the decisions that we would make ...
a) why CFA ICWAI and y not CFA AIMR any specific reasons for that ..
There is no support for CFA AIMR. They have a small 50 people group in Mumbai and they generally answer Programme related issues rather then subject problems. It is best suited for investment professionals as course is focussed on capital markets. CFA ICFAI have lot of support and training, covers entire gamut of finance and is highly regarded in India. No body is going to hire a candidate because he is CFA from AIMR and have spended 1.5 lakhs. You will get the offer letter because of your knowledge: Hardcore Investment Analysis Knowledge.
) U say that they got a patent in 1991. But there was a US law suite against them the charter in invalid in US or Canada
Now ...does this charter hold the same value as a CHARTER in accounting i.e CA .. since the ICA India is a regulatory body of the Govt. Of India.
SHALL WE CONSIDER THIS AS A CHARTER IN FINANCIAL ANALYSIS in INDIA authentic enough
or the qualification will be more considered as MS finance.. from ICFAI
CFA AIMR registered the CFA trademark in US and canada only initally in late 60's or early 70's. CFAI's charter started in the US, but if they wanted a global trademark, they needed to apply for a trademark in every country individually. That is the normal standard with patents too. So they should have applied for it in UK, Japan, China, India, Germany, etc. separately. If the Indian institute got in first in India, thats just the way it is. Same way the Indian institute cannot use it in US because AIMR got in first. simple.
CFA stands for Chartered Financial Aanalyst, which is quite a generic name. Many countries have professional charter/designations such as CPA or CA as we have here. That does not make their designation global. AIMR's CFA designation was never designed to be global but over the years they decided that there was a vacuum in this area in most part of the world and they started filing CFA as a global trademark.
Thanks there very much Babu for the information !!
Will keep asking more questions.....
Are there any updates on the legal war between ICAI and ICFAI ?
Isnt the word "chartered" the bone of contention.
Is it likely that ICFAI would eventually loose the case as ICAI was formed by the Act of Parliament unlike ICFAI, which puts ICFAI at disadvantage !
In case ICFAI looses what will the CFAs stand to loose ?
Who do you think stands a better change at being a CFO, a CA or a CFA considering that a CFA has no authority in signing the balance-sheet of a company and does not have the indepth knowledge of accounting and taxation ?
Regards !
Trademark battles like these are decided mainly keeping 2 things in perspective:
1) Who used the Trademark first? ICFAI used CFA trademark in India first way back in 1985. They registered the patent in 1991 and CFA AIMR filed the case in VA in 1998.
2) Was there any passing off? Since ICFAI prospectus clearly distinguish itself from CFA AIMR trademark and qualifications, ICFAI have a very strong case.
I read one CFO requirement AD last week. They asked for CA/MBA Finance/PG in commerce. Since you will be MS finance which is regarded as PG in commerce, you should be eligible for CFO.
To become a CFO after 2 decades, no organisation cares what you did as education 2 decades ago. They need relevant experience, knowledge and personality.
the facts reg. the patent and the suite was convincing... But u have ommited an emminent point ...
ICFAI was using the 'CFA' designation for its students that was protested by the AIMR..
Only CFA designation after your name can be obtained after u complete the CFA from aimr.
for instance a chartered accountant would write the initials C.A after his name can a ICFAI CFA write the same 'CFA' after his name ... pl give this point a weight This is where the tussle between USA CFA and ICFAI began... and ICFAI lost the case
They converted the name of the course to MS finance.. thereafter.
reg. getting a job or being a CFO of some company should not be point of discussion.. To be a CFO u have to have the fate at the first place.. and then ur credibility so thats a different issue..
We are discussing on a technical issue that needs to be concluded on right arguments.
the facts reg. the patent and the suite was convincing... But u have ommited an emminent point ...
ICFAI was using the 'CFA' designation for its students that was protested by the AIMR..
Only CFA designation after your name can be obtained after u complete the CFA from aimr.
for instance a chartered accountant would write the initials C.A after his name can a ICFAI CFA write the same 'CFA' after his name ... pl give this point a weight This is where the tussle between USA CFA and ICFAI began... and ICFAI lost the case
They converted the name of the course to MS finance.. thereafter.
reg. getting a job or being a CFO of some company should not be point of discussion.. To be a CFO u have to have the fate at the first place.. and then ur credibility so thats a different issue..
We are discussing on a technical issue that needs to be concluded on right arguments.
regards
They started to award MS finance when it got university status. I think in 2002. Before that it was awarding only CFA charter from CCFA. If you complete ICFAI CFA , you will get MS finance and CFA charter from CCFA. You can use CFA charter from ICFAI all over world except US and canada.
Dhawal Mehta Email-Designation- Senoir Fund ManagerAge- 35Educational Qualification : B. Sc. (Maths.) CFA, ICWAI, Post Graduate diploma in Management - Finance from IIM KolkataExperience : Mr. Mehta has an experience of nearly 12 years in the Indian Financial Markets mainly in the areas of Equities research and fund management. His previous employment was with Alliance Capital Asset Management (India) Pvt. Ltd., ASK-Raymond James and Associates ltd., UTI Securities Exchange Ltd., UBS Securities (India) Pvt. Ltd., S S kantilal Ishwarlal Securities Pvt. Ltd. and IndBank Merchant Banking Services Ltd.
hi ritesh i m anand and doing my MBA from Delhi. i m also doing CFA and will be aappearing for group Gamma & Delta. howz ur preperation going of the 4 subjects? and which center have u choosen in delhi?
hi ritesh i m anand and doing my MBA from Delhi. i m also doing CFA and will be aappearing for group Gamma & Delta. howz ur preperation going of the 4 subjects? and which center have u choosen in delhi?
Hi......m giving from karol bagh centre.......well not started yet with prep .......now smmrs going on.......wl try to start prep after 5th june.......
