Great News: US CPA exams in India

@Miles, India’s #1 CPA Review,

Resolve to pass all the 4 CPA exams in 12 months
The US CPA designation:
- US equivalent of CA
- Only 4 exam parts
- Exams now in India
- Appear for 1-exam-at-a-time [spread over 4 quarters]
- Start with Live Online Sessions from 13th Nov, 2021
@Miles, India’s largest CPA review, and
Tie-up for CPA with 100+ MNC’s (including all the Big 4)
Lead Instructor - Varun Jain, CPA, CMA, Harvard B-School alumnus
Section 1

Why CPA?
The CPA Career
Roadmap to CPA The US CPA designation

CPA = US Public Accounting License

• CPA is the US
public accounting
• Global recognition
license International • Opportunity with Big 4 & MNCs
• CPA exam USPs Credibility across India and globally
• 4 exams only
• Exams now in
India
• c.800 hours of Industry- • Accounting (FAR)
study • Auditing (AUD)
relevant • Tax (REG)
• Extensive career
opportunities with Skills • Finance (BEC)
MNCs and Big 4
[fresher salary
packages > INR
• 4 exams only, c.800 hrs of study
600k]
• Can complete in less than 1 year
Course USPs • Anywhere: India, Dubai or US
• Anytime: Throughout the year

4
Roadmap to CPA The US CPA designation

Why only 2-4 exams for US CMA/CPA certifications?

• US professional • Various non-US

Non-US
qualifications US professional
Professional
“COMPLEMENT” CMA / CPA qualifications tend
Qualifications
UNIVERSITY to “SUBSITUTE”
EDUCATION – e.g., UNIVERSITY
to be a CMA, CPA or Global EDUCATION – e.g.,
CFA, a university recognition you can be a CA in
degree is mandatory many countries
• Therefore, these are without any university
2-4 exams, 13-20 exams, education
crisper in content and single-level multiple levels
focus only on skill- • Therefore, these are
gaps that are lengthy and also
needed to be a F&A University University encompass what a
professional degree required degree candidate would
• Designed to be have covered (or
pursued alongside simultaneously
a full-time job and to covers) in a
facilitate the career university degree
progression for
professionals

5
Roadmap to CPA The US CPA designation

Career opportunities for CPAs in India

Opportunities in India • Subsidiaries of US-based MNCs in India [i.e., MNCs based out of
for CPAs are with: US or US SEC-registrants]
• Big 4 [India offices • Need to convert Indian GAAP financials to US GAAP for consolidation with
and US outsourcing] the US parent. US GAAP financials – that’s the job of CPAs!
• US regulations & compliances apply. E.g., SOX, FCPA

• Few Indian MNCs who have raised $ from US capital markets

• These are US SEC-registrants; hence, have reporting requirements with the
SEC - in US GAAP or IFRS. E.g., Tata Motors, HDFC, ICICI, Infosys, Wipro

• F&A players like • Auditors of these MNCs

Accenture, • For audits, the partner on the audit for a US SEC-registrant needs to be a
Genpact, IBM CPA, and they always prefer to have CPAs on the engagement team
Capgemini, HP,
• Especially Big 4 – Deloitte, EY, KPMG, PwC
Infosys, others
• F&A companies
• MNCs [especially,
• Includes Accenture, Genpact, Capgemini, IBM, HP, Infosys, Arvato, Xerox,
US-based MNCs]
Wipro, TCS, Cognizant, EXL, Steria, WNS, others

6
Roadmap to CPA The US CPA designation

Miles’ Corporate Tie-ups for CPA training

• Big 4 and MNCs

across India
sponsor the CPA
program including
the Miles study
materials and
training fees for
their professionals
• This reflects the
industry demand for
CPA as well as
Miles’ credibility for
CPA training
Roadmap to CPA The US CPA designation

100% Placements for Miles CPA Alumni

Hear it from few of our alumni who got placed during the Pandemic:
https://youtu.be/4ysNWv37FjM
Roadmap to CPA The US CPA designation

CPA Canada
▪ Canada’s accounting profession of 200K+ members is represented by a single
national body - Chartered Professional Accountants of Canada (CPA Canada)
▪ Earlier, there were 3 accounting qualifications in Canada:
• US CPA’s can directly ▪ CA (Chartered Accountant)
earn CPA Canada ▪ CGA (Certified General Accountant)
without any additional ▪ CMA (Certified Management Accountant)
exams ▪ In 2013, all these 3 qualifications were merged to form the new
designation – CPA Canada
• This is significantly
different from the ICAI ▪ MRA (Mutual Recognition Agreement) effective Jan 2018 - between:
- CPA Canada MRA ▪ All Canadian CPA bodies, and
which requires CA’s to ▪ NASBA and AICPA - represented by IQAB (International Qualifications
Appraisal Board)
pass the CFE
(Common Final ▪ No additional exams for US CPAs to earn Canada CPA. Eligibility:
Examinations) which ▪ Active US CPA license (and in compliance with required CPE)
is a 3 day examination ▪ Note: Need to pass all 4 parts of the US CPA exam before
and requires becoming a resident of Canada
▪ Education - 150 credits
candidates to be in
▪ 24-30 months of relevant experience
Canada to appear for
the same ▪ From 2020 to 2023, Canada will welcome 1 MM+ new immigrants
▪ Many pathways to immigrate to Canada & secure Canadian PR (e.g.,
Express Entry System)
▪ Can immigrate and look for job opportunities (job offer is not a pre-
requisite for immigration)
▪ Extensive job opportunities
9 for CPA (US) and CPA Canada
Section 2

What’s the roadmap to CPA?

The CPA Exams & License
Roadmap to CPA The US CPA designation

CPA Examinations – Only 4 Exam Parts

• Financial • Auditing & • Regulation • Business

AUD
FAR

REG

BEC
Accounting Attestation (US tax/law) Environment
& Reporting & Concepts
• Auditing • US federal
• US GAAP & standards & taxation & • Business
IFRS procedures business law transactions
• 4 hour exam • 4 hour exam • 4 hour exam • 4 hour exam
(50% (50% (50% (50%
multiple multiple multiple multiple
choice and choice and choice and choice, 35%
50% 50% 50% simulations
simulations) simulations) simulations) and 15%
written)

Key pointers:
• Objective pattern – FAR / AUD / REG = 100% objective | BEC = 85% objective
• Passing score of 75 on each part (on a scale of 0-99)
• Global Pass Rate > 45%
• 18 months to clear from date of clearing 1st exam
• ANYTIME throughout the year
• ANYWHERE in India, Middle East or US 11
Roadmap to CPA The US CPA designation

CPA Eligibility - Expert guidance by Miles

• Minimum education requirements for US CPA exams and license:
CPA Exams =
• Generally, most Indian 120 credits; CPA License =
B.Com graduates are
90 credits (pre- 150 credits
eligible to take the
education option)
CPA exams (with a
bridge course
enrollment) • General rule: Every year of university education in India is equivalent to 30
semester credits of US education.
• For bridge course,
• Using 1 year = 30 credits,
Miles CPA Review
• B.Com = 3 years x 30 credits = 90 credits
facilitates an “online”
• B.Com + M.Com/MBA = 90 credits + 60 credits = 150 credits
2-year M.Com –
• B.Com + CA/CS/CWA = 90 credits + 60 credits = 150 credits
Professional
• CA/CS/CWA recognized by few states as 2 years of US education
Accounting &
Finance from Jain • B.Com Only? Options:
University. Miles CPA • Pre-education eligibility - Enroll for “online” M.Com - Professional
content tested on this Accounting & Finance from Jain University. Appear for CPA exams alongside
integrated program M.Com (just need to send bonafide from Jain University)
(i.e., no extra studies!) • Exception (being phased out): If B.Com is completed in 1st division from a
NAAC ‘A’ university, the 3-year B.Com would be treated as 4 years of US
education, i.e., 120 credits for B.Com alone. However, note that this
exception only applies for CPA exam eligibility (NOT for CPA license – so for
CPA license, B.Com will anyways be counted as 90 credits) 12
Roadmap to CPA The US CPA designation

CPA Exams & License – cracking the code!

CA CPA
• 55 State Boards of
Accountancy ELIGIBILITY - CA 55 SBAs
(SBAs) – each rules decided by: Institute [varying rules with different
authorized to issue choice of evaluation agencies]
the CPA license,
and decide their
EXAMS – CA AICPA
own eligibility rules
conducted by: Institute [irrespective of state board
• NASBA - the selection; hence, these are
association of the called “Uniform” for the CPA
55 SBAs
examinations]
• AICPA – conducts
the “Uniform” CPA
CERTIFICATE / CA 55 SBAs
examinations
LICENSE – Institute [varying rules; but note that
• Prometric – CPA awarded by: ALL the states are substantially
exam test centres equivalent; i.e., license from
any one state board is valid
across the US and the world]

13
Roadmap to CPA The US CPA designation

CPA License - Miles helps you become a CPA!

• Just passing the CPA

Exams does not make
you a CPA – you need
to fulfill the other 3 Es:
• Education – if
required, Miles can
help you with a
bridge course
(M.Com)
• Experience – Miles
has full-time • As per regulations, for CPA exams taken in international locations
licensed CPAs who
(like India or Dubai), the exam credits lapse unless the candidate is
are able to verify
experience for the able to get to the CPA license within 3 years of clearing the CPA
CPA license exams
• Ethics - Exam from • One the most critical requirements for international candidates is
India; no travel “Experience” – and Miles is the only review course provider in India
with licensed CPAs (including, of course, the Lead Instructor - Varun
Jain, CPA) who are authorized to verify the accounting/finance
experience of candidates to help them achieve their CPA license
14
Section 3

How do you earn your CPA?

Only Miles to CPA – India’s #1 CPA Review
Roadmap to CPA The US CPA designation

Miles CPA Review - Course Offerings

• Wiley CPA - Test Prep Guides - International Series – authored by

• Led by Varun Jain Varun Jain
(India’s favourite
CPA instructor),
• Miles Online Test Bank Access for online practice questions and
Miles CPA Review mock exams (8000+ MCQs and 500+ Simulations including DRS’)
is the largest • Online Training:
provider of CPA • 130+ hours of pre-recorded videos by Varun - includes both
training in India "concepts on the whiteboard" & "annotations on your book"
• Miles provides the • 100+ hours of live online training by Varun + Team spread
best in-class study over 36 sessions via webinars every Saturday & Sunday
material, a unique • Classroom training: 200+ hours of face-to-face training over 28
classroom delivery
Sundays [masterclasses by Varun Jain in most cities; classes will
model and extensive
student support to resume post-pandemic]
help candidates get • Logistical support - Exam Eligibility, Foreign Credential Evaluation,
to destination CPA NTS, UAE /US travel
• CPA licensure assistance
• Placement assistance (for self-sponsored candidates)
• Additional Support - Support-till-you-pass, Miles 2021 Pass
Guarantee, MAC Membership, Subvention Facility (EMIs)
Roadmap to CPA The US CPA designation

Wiley CPA - Test Prep Guides - International Series

Authored by Varun Jain

• Wiley CPA - Test Prep

Guides - International
Series
• Authored by Varun
Jain
• Reflects the best-in-
class quality of Miles
CPA study materials
• Unlike others in India,
Miles does not simply
“resell” US materials
• About Wiley:
• 200+ years of
legacy
• 470+ Nobel
Laureates as
authors

17
Roadmap to CPA The US CPA designation

Miles Training Videos = Concepts + Annotations

mileseducation.com/cpa
• Miles’ videos by
Varun Jain, CPA,
CMA, who is India’s
favorite CPA and
CMA instructor
• About Varun:
• Co-founder of
Miles Education
• Author of Wiley
CPA - Test Prep
Guides -
International Series
• Ex-investment
banker at Morgan
Stanley
• Harvard B-School
alumnus

18
 Roadmap to CPA The US CPA designation

CPA Gameplan - Pass all 4 exams by Q4 2022

One Mile at a time!

• One-mile-at-a-time -
Prepare for only 1 part • Classes: BEC exam in
at one go
• During classes:
BEC Nov 13 – Dec 18
Jan-2022
• Varun’s Webinars
@6 hrs/week
• Varun’s Videos • Classes: FAR exam in
@6 hrs/week
• Online test-bank
FAR Feb 12 – Apr 2,
2022 May-2022
@8 hrs/week
• Post-classes: Revision
@20 hours/week • Classes: AUD exam in
AUD May 21, 2022 -
June 18, 2022
Sept-2022

• Classes: REG exam in

REG Oct 2, 2022 –
Nov 26, 2022 Dec-2022
19
 Roadmap to CPA
Why is Miles India’s #1 CPA review?
• Miles is India’s largest
and #1 CPA review
• Since 2011, 80%+ new
CPAs in India are Miles
alumni
• Miles has been
instrumental in building
the CPA ecosystem in
India - presence in 9
cities and partnerships
with 100+ MNC’s
including all of the Big 4
• Wiley CPA Test Prep
Guides, Videos, live
online training and face-
to-face masterclasses by
Varun Jain (India’s
favorite CPA instructor)
The US CPA designation
Miles CPA
Wiley CPA – Test Prep Guides –
International Series (authored by Varun
Jain)
Live online training & face-to-face
masterclasses by India’s favourite CPA
instructor – Varun Jain
Concept-focussed Videos with “concepts
on whiteboard” &
“annotations/highlighting on book”
Built the CPA ecosystem in India; 9
cities + Tie-up @100+ MNC’s (including
all Big 4); 80%+ pass rate
360 degree support – Eligibility, State
Board Selection, Exams, and most
importantly CPA License
Placement Assurance with Big 4 &
MNC’s in India
Others
Franchise model - simply resell content
of US providers
Only find the lead instructors on videos,
never “live”
Little focus on concepts; Videos may
have a sitting instructor making you
highlight on your books (that’s it!)
Limited commitment as only
franchisee/resellers of US course
providers; Very few enrolments in India
Limited support; little or no clue on CPA
license; you may even lose your CPA
exam credits in 3 years …
Little or no support/clue on placements
20
Roadmap to CPA The US CPA designation

CPA Exam Expenses*

Phase I (Exam Preparation) - Payable to Miles Education [after bundle discount]
Wiley CPA Study Materials: ₹ 39,000
Total CPA exam
₹ 9,750 x 4 = ₹ 39,000 [inclusive of GST]
expenses estimated
Miles CPA Test-Bank - Online Access: ₹ 20,000
at INR 333K which
₹ 5,000 x 4 = ₹ 20,000 [inclusive of GST]
includes Miles CPA Videos & Training Fee (Classroom + Webinar): ₹ 30,000
• Miles fees ₹ 30,000 x 4 = ₹ 1,20,000; 75% bundle discount
• Evaluation fee Miles CPA Support Fee [Evaluation / NTS / License] ₹ 10,000
(payable to ₹ 40,000; 75% bundle discount
evaluation agency) Miles CPA Additional Support Fee [Support-till-you-pass, Miles -
2021 Pass Guarantee, MAC Membership, Subvention Fees for EMI]
• Exam fee (payable
Net Payable to Miles CPA Review ₹ 99,000
to US state board)
GST @18% [on Training Fee & Support Fee] ₹ 5,400
Total Payable to Miles CPA Review ₹ 104,400

Phase II (Applying for the Exam) - Payable to US agency / state board

Foreign Academic Credential Evaluation $250 ₹ 18,750
CPA Exam Application Fees : $1300 Exam fee approx. $2,800 ₹ 210,000
+ $1484 International testing additional fee
Total Official Expenses * $3,050 ₹ 228,750

Grand Total of CPA Exam Expenses ₹ 333,150

* Exchange rate used: US $1 = INR 75.00 (includes foreign currency markup fees). Expenses may vary slightly 21
depending on the selection of the evaluation agency and state board
Roadmap to CPA The US CPA designation

Miles’ Finance & Accounting Offerings

• Miles Education is
the “official” and
India’s largest training
provider for US CPA
and US CMA Certified Public
Accountant (CPA), US Executive Program in
• Miles has partnered
▪ US equivalent of CA Analytics for Finance
with Wiley for IIM-L
▪ 4 exams, 12 months timeline ▪ Upkill to use analytics across the
Exec-Ed programs
▪ @Miles, India’s #1 CPA review F&A value chain. Go beyond
• Miles partners with ▪ Placements @Big 4 & MNC’s Excel, learn R & Tableau
corporates and trains
▪ Earn IIML MDP alumni status
working professionals
to enable their career ▪ 6 months online (4 hrs/week) + 4
progression days immersion @IIML campus

• Miles works with Executive Program in

universities to train
students to help them
be industry-ready as
Certified Management
they graduate Accountant (CMA), US
▪ Global finance professional
▪ 2 exams, 6 months timeline
▪ @Miles, IMA’s Platinum Partner
▪ Placements @MNC’s
Strategic Finance
▪ Upskill in strategic financial
leadership. For CFO’s and FP&A
leaders. Minimum 10 yrs work-ex
▪ Earn IIML MDP alumni status
▪ 9 months online (4 hrs/week) + 4
days immersion @IIML campus
Roadmap to CPA The US CPA designation

Miles Education - Presence in India

www.mileseducation.com/cpa

• Miles is present
across 9 cities in
India
• Miles also has
offices and staff in
UAE and US
• Batches for CPA
start every 2 months

23