CFA Accounting Knowledge

[Spexs]

How would the accounting knowledge of a CFA charterholder (assuming accounting was not their undergraduate degree) compare to the following:
i) A person with an accounting diploma
ii) A person with an undergraduate degree in accounting but no designation
iii) A person with a professional accounting designation (CA, CPA etc.)

 

[S2000magician]

I’m not sure I understand the distinction between i) and ii).
For the most part, someone with a CA or CPA will have greater accounting knowledge than a CFA charterholder. But there are some topics in the CFA FRA curriculum that most CAs and CPAs would not know, as it doesn’t appear on their exams (e.g., currency translation/remeasurement).

 

[Spexs]

Distinction between i and ii being that a diploma is a two year program (in the US I think it is sometimes refered to as an associates degree) and an undergraduate (Bachelors) degree is a 4 year program

 

[S2000magician]

I’d say that a charterholder knows more than someone with an associate’s (AA) degree, but less than someone with a BA in Accounting.
I have a BA in Accounting, and it was a huge help when I studied for the CFA exams; the only new stuff that I recall was the multinational currency stuff.

 

[Portfolio Manager]

S2000magician wrote:
I’d say that a charterholder knows more than someone with an associate’s (AA) degree, but less than someone with a BA in Accounting.
I have a BA in Accounting, and it was a huge help when I studied for the CFA exams; the only new stuff that I recall was the multinational currency stuff.

I would agree with that. However, a CFA charterholder would have (much) less accounting knowledge than a CPA holder.
I hold a CPA holder in my country (I work in a Big Four firm), and I am surprised at how little CFA helps in accounting matters here. However, the CFA helps immensely in understanding financial instruments, investments and complex financial structures.

 

[CADFX]

I’m a CA in Canada - CFA accounting curriculum is probabaly 20-25% of what I learned in the CA program.
We do learn translation/consolidation of foreign subs in Canada, perhaps it’s different in the US.
I also did an accounting undergraduate, would say that the CFA program covers maybe 60-65% of the material from my school (sample size of 1). Overall is not significant, I would expect someone who majored in accounting for their undergrad to know significantly more than a CFA charterholder (excl. work experience).