Be “Future Proof”!

Be a US CMA
 2 exams [11 core practice areas]
 6-9 months timeline
 @Miles, IMA’s India partner
Section 1

The CMA Career

Roadmap to CMA The US CMA designation

CMA by IMA (US) = US equivalent of CMA

• CMA - Certified
Management
• Global recognition
Accountant International • Opportunity with MNCs in India
• CMA exam USPs • MoU between IMA & ICWAI ensures
Credibility mutual recognition
• 2 exams only
• Exams in India
• 6 months / 400
hours study • Finance & Accounting
• Extensive career Knowledge • Financial Reporting, Planning,
opportunities with Base Performance, Control, Decision-making
MNCs in finance & • No Audit / Tax
accounting

• 2 exams only, 11 Sunday classes

• Can complete within 6 months
Course USPs • Anywhere: India or globally
• Anytime: 6 months/year

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Roadmap to CMA The US CMA designation

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

• US professional • Indian (or even UK)

Indian CA /
qualifications US professional
International
“COMPLEMENT” CPA / CMA qualifications tend
qualifications
UNIVERSITY to “SUBSITUTE”
EDUCATION – e.g., UNIVERSITY
to be a CPA, CMA or Global EDUCATION – e.g.,
CFA, a university recognition you can be an Indian
degree is mandatory CA, CMA or CS
• Therefore, these are without being an
2-4 exams, 13-20 exams, under-graduate!
crisper in content and single-level multi-level
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

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Roadmap to CMA The US CMA designation

CMA @F&A roles = “Value Creation”

• Management
Accounting is about Inside the organization
“value creation”
whereas Public
Design Implement Manage Report
Audit
Accounting treads
into “valuation”
• CMAs work inside
the organization Management Accounting Public Accounting
creating value by
providing high Management Accountants help create value,
quality financial rather than simply measuring it!
information to
management. Key responsibilities of Management Accountants:
Public accountants • Act as trusted business advisors
(CPAs) attest to the • Support management decision making process
validity of that • Involved in strategic development initiatives
information • Work “hands on” to add value in organizations
• Use broad-based business knowledge to improve
company performance

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Roadmap to CMA The US CMA designation

Be a “future proof” finance professional

• CMA helps you to

be “future-proof” as
you will increasingly
be expected to
provide “insight” and
“foresight”

Source: Gartner Inc., as published in Strategic Finance, Tech Practices, January 2015

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Roadmap to CMA The US CMA designation

IMA’s global recognition | MoU with ICWAI (India)

• The IMA (US) and

ICWAI (India) MoU
is testimony to
IMA’s (and US
CMA’s) global
recognition
• IMA’s global The Institute of Cost Accountants of India (formerly ICWAI) has
presence: entered into a Memorandum of Understanding (MoU) with the
• US
Institute of Management Accountants (IMA), US, to enable
mutual recognition and cooperation between the two institutes
• Europe
to develop the profession of Management Accountancy.
• Middle East
• China (exams in The MoU enables recognition of the professional qualification
Chinese as well) of the respective Institutes. A member of ICWAI can get
• Singapore enrolled as a member of IMA (US) and vice versa.

Refer: http://icmai.in/icmai/aboutus/mou/MOUwithIMA.php
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Roadmap to CMA The US CMA designation

Miles’ Corporate Tie-ups for CPA/CMA training

• Big 4 and MNCs

across India
sponsor the
CPA/CMA program
including the Miles
study materials and
training fees for
their professionals
• This reflects the
industry demand for
CPA/CMA as well
as Miles’ credibility
for CPA/CMA
training
Section 2

The CMA Exam & Certification

Roadmap to CMA The US CMA designation

CMA Exams = 2 Parts

• The 2-part CMA

exams cover a
broad-base of topics
– all a Management
Accountant or
Financial Analyst
needs to know!
• Students would
need approx. 400
hours to prepare for
the exams
• Exam pass rates of
over 40%

Key pointers:
• Exam pattern = 75% objective pattern / 25% essay questions
• Passing score of 360 out of 500 on each part
• Global Pass Rate > 40%
• ANYTIME across 3 exam testing windows: Jan-Feb, May-June, Sep-Oct (6 months/year)
• ANYWHERE in India or abroad 10
Roadmap to CMA The US CMA designation

Overlap between CPA and CMA curriculum

4 parts on the CPA exams:

• Financial • Auditing & • Regulation (US • Business

REG
AUD

BEC
FAR

Accounting & Attestation tax & business Environment &

Reporting law) Concepts

Indicative coverage on the CMA exams:

Covered Not Not Covered

on CMA covered covered on CMA

CMA = Focus on Finance & Accounting

= CPA (-) Audit (-) Tax/Law
Roadmap to CMA The US CMA designation

CMA Certification Requirements

• Students can clear

the 2-part CMA
exams along with Exams: Education: Experience: CMA
their graduation; Only 2 parts Bachelor’s 2 years Certificate
later, meet the other
requirements for the
CMA certificate
• Professionals with To obtain the CMA certificate, candidates need to fulfill the following criteria:
2+ years of • Examination - Clear Part 1 & Part 2 of the CMA exams
experience only • Education Qualification - Bachelor’s degree
need to clear the 2-
• Note: The education requirement may be completed prior to or within 7 years of
part CMA exams to passing the examination. This implies that students who are pursuing their
earn the CMA bachelor’s are eligible to take the CMA exams
designation
• Experience - 2 years of professional experience in accounting or finance
• Note: The experience requirement may be completed prior to or within 7 years
of passing the examination

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Section 3

CMA Training @Miles CMA Review

- India’s largest CMA review
- Only Platinum Partner of IMA, US, in India
- Official IMA study materials by Wiley
- Special bundle discount via IMA-Wiley-Miles partnership
- Corporate tie-ups & Placements for CMA
- Lead Instructor - Varun Jain, CPA, CMA, Harvard B-School alumnus
Roadmap to CMA The US CMA designation

IMA-Wiley-Miles Tri-party Arrangement in India

• IMA-Wiley-Miles
Institute of Management
have a tri-party
agreement whereby Accountants, USA – Offers
Miles CMA Review the CMA certification
is the only
Platinum Course
Provider of IMA
(Institute of Wiley – Publisher of “official”
Management IMA study materials & online
Accountant) in India
test-bank

Miles Education – IMA’s only

Platinum course provider for
CMA in India

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Roadmap to CMA The US CMA designation

Miles CMA Review - Course Offerings

• Miles CMA Review • Wiley CMA-excel Review Learning System

is the “official”
partner of IMA • IMA approved study materials
(Institute of
Management • Online test bank access
Accountant) in India
• Miles CMA Review Notes compiled in exam-focused
• Training is provided
using “official” notes format and including multiple aids for conceptual
IMA-licensed
study material understanding and memory
published by
Wiley • 75+ hours of Classroom training spread over 11 Sundays
• Classes conducted
• Advisory support for CMA exam application, CMA
across 10 cities in
India certification, etc.
• Placement assistance (for self-sponsored candidates)

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Roadmap to CMA The US CMA designation

ONLY “official” study materials licensed by IMA

• Use of “official” IMA

study materials
entitles candidates
to a special
discounted bundle
pricing whereby
the cost of these
study materials is
pre-dominantly
covered in the IMA
fees CMA Learning System (published by Wiley)
• IMA approved study material
• Includes:
• Study material for Part 1 and Part 2 [useful for conceptual
understanding]
• Online test bank access for Part 1 and Part 2 [useful for
practice questions and mock exams]
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Roadmap to CMA The US CMA designation

Miles Training Videos = Concepts + Annotations

http://wiley.milescma.com/videos
• Miles’ videos are
pre-recorded by
Varun Jain, CPA,
CMA, who is
undoubtedly India’s
favorite CPA and
CMA instructor
• About Varun:
• Co-founder of
Miles Education
• Ex-investment
banker at Morgan
Stanley
• Harvard B-School
alumni

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Roadmap to CMA The US CMA designation

Miles CMA Training Delivery Model = “iCMA”

• Miles CMA Review • INTERACTIVITY

has taken the “best
of both worlds”
i • “Live” / 2-way / c.20% of class time allocation

• “Live” Interactivity
and Mock • CONCEPTS
Questions
• “Pre-recorded”
C • “Pre-recorded” / c.40% class time allocation

Concepts &
Annotations • MOCK / PRACTICE QUESTIONS
• Classes conducted
in Ahmedabad,
M • “Live” / 2-way / c.20% of class time allocation

Bangalore,
• ANNOTATIONS
Chennai, Delhi,
Kochi, Kolkata,
Hyderabad,
A • “Pre-recorded” / c.20% of class time allocation

Mumbai, Pune
Samples videos available on: Wiley.MilesCMA.com/videos
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 Roadmap to CMA The US CMA designation

Miles ensures the needed “discipline” to be a CMA

• CMA exam prep

Part 1 Part 2
requires strong sense
of discipline. Herein, • 6 Sunday Classes • 5 Sunday Classes
Miles Sunday
classroom model is
very effective:
• Full-day of study on
Sunday with 100%
concepts covered
• Driving the pace of
preparation as per
the class schedule
FLEXIBILITY DISCIPLINE
• Study atmosphere
[Is already there [Required to clear
in class; interaction
for CMA exams] the CMA exams]
& networking with
peers & faculty

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Roadmap to CMA The US CMA designation

CMA Exam & Certification Expenses

Students: CMA Training Fees Students # Professionals

• ₹45,900 training Miles CMA Training & Support Fees ₹ 38,900 ₹ 38,900
GST @18% ₹ 7,000 ₹ 7,000
• $975 bundle payable
Total CMA Training Fees (incl. of taxes) ₹ 45,900 ₹ 45,900
in 3 installments
 $525 (₹38,850)
Study Materials + IMA Fees Bundle * Students # Professionals
 $25 Official IMA study materials - textbooks & $975 $975
 $425 online test-bank (Wiley CMAexcel
Learning System) **
Professionals: IMA Membership Fee $39 $245
• ₹45,900 training CMA Certification Entrance Fee $188 $250
• $1,325 bundle CMA Exam fees (Part 1 & Part 2) $622 $830
payable in 3 Total (Study Materials + IMA fees) $1,824 $2,275
installments Less: Bundle Discount for Miles ($849) ($975)
Net (Study Material + IMA Fees) ^ $975 ₹ 72,150 $1,325 ₹ 98,050
 $525 (₹38,850)
 $100
* Exchange rate used: US $1 = INR 74.00 (includes foreign currency markup fees)
 $700 ** Includes $25 (INR 1,850) for Miles notes to Wiley CMAexcel Learning System
^ Payable in 3 installments [Installment #1 and 2 payable on enrollment, Installment #3 when
registering for the CMA exams]
# To qualify for Student membership, candidates must be enrolled in a full-time college or
university degree/diploma
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Roadmap to CMA The US CMA designation

Timeline
• Miles - INR 46K
Month 1 [e.g., Jan] Miles CMA – 11 Sunday • IMA Installment 1 - $525
classes [with few breaks] • IMA Installment 2 - $100
(professionals), $25
Month 2 [e.g., Feb] 8 hrs on Sunday + 12 hrs during (students)
the week = 20 hrs / week
=> 80 hrs / mth
Month 3 [e.g., Mar] => c.300 hrs over 3-4 mths

• IMA Installment 3 - $700

Month 4 [e.g., Apr] (professionals), $425
(students)
Revision over 2-3 months
=> 80-100 hrs / mth
Month 5 [e.g., May] => c.200 hrs over 2-3 mths

Exams in 5th & 6th month

Month 6 [e.g., Jun] Total = c. 500 hrs of study

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Roadmap to CMA The US CMA designation

Miles CMA Review - Presence in India

Wiley.MilesCMA.com

• Miles is present
across 10 cities in
India
• Batches for CPA
start in each city
every 2-3 months
[refer website for
latest schedules]

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