Be “Future Proof”!
Transcript of Be “Future Proof”!
#CMAmatlabMiles
Be a US CMA in 2022
Pass the 2 exams in 6-9 months @Miles, IMA’s platinum partner Batch starts Jan 22, 2022
Why CMA?Global credibility as a F&A professionalIndustry-relevant skillsAssured jobs & career progressionin India & USA
#CMAmatlabMiles
ROI =Return
Investment
Global Credibility as a F&A professionalIndustry-relevant skillsAssured jobs & career progressionin India & USA
Approx. 500 hours of study over6-9 months (@22 hours/week)Cash outflow of approx.INR 1.2 lakhs - INR 1.5 lakhs(including IMA exam fees)
Why CMA?
Let’s talk ROI
Why only 2-4 exams for US CMA/CPA certifications?
US CMA/CPA
Non-USProfessional
Qualifications
Global recognition
2-4 exams,single-level
University degreerequired
13-20 exams,multiple levels
Universitydegree
US professional qualifications “complement” university education – e.g., to be a CMA, CPA or CFA, a university degree is mandatory
Therefore, these are crisper in content and focus only on skill-gaps that are needed to be a F&A professional
Designed to be pursued alongside a full-time job and to facilitate the career progression for professionals
Various non-US professional qualifications tend to “substitute” university education” - e.g., you can be a CA in many countries without any university education
Therefore, these are lengthy and also encompass what a candidate would have covered (or simultaneously covers) in a university degree
#CMAmatlabMiles
Why CMA?
CMA @F&A roles = “Value Creation”
Management Accounting is about “value creation” whereas Public Accounting treads into “valuation”.
CMAs work inside the organization creating value by providing high quality financial information to management. Public accountants (CPAs) attest to the validity of that information.
Inside the organizationAudit
Design Implement Manage Report
Management Accounting Public Accounting
Management Accountants help create value, rather than simply measuring it!
Key responsibilities of a Management Accountant: Act as trusted business advisors Support management decision making process Involved in strategic development initiatives Work “hands-on” to add value in organizations Use broad-based business knowledge to improve company performance
#CMAmatlabMiles
Why CMA?
Be a “future-proof” finance professional!
CMA helps you to be “future-proof” as you will increasingly be expected to provide “insight” and “foresight”.
Analytics tested on the CMA exams starting 2020.
Source: Gartner Inc., as published in Strategic Finance, Tech Practices.
Oversight
Insight
Hindsight
Foresight
#CMAmatlabMiles
Why CMA?
CMA + “Global Passport” for finance professionals
Founded in 1919, IMA is present globally: US Europe Middle East China Singapore India
Miles is IMA's Global Platinum Partner
Miles has been instrumental in building the ecosystem for CMA in India
#CMAmatlabMiles
Why CMA?
Miles’ Corporate tie-ups for CPA/CMA training
With Miles’ credibility and high-quality training delivery, Miles is an empanelled training partner with all Big 4 and 220+ MNCs (includes 75+ Fortune 500 companies).
Corporate tie-ups also ensure Miles gets recruitment mandates (many of them exclusive) for placements of Miles alumni.
Why CMA?
CMA Exam = 2 Parts
The 2-part CMA exam cover a broad-base of topics, all that a Management Accountant or Financial Analyst needs to know! Candidates would need approx. 500 hours to prepare for the exams.
Exam pass rate of over 40%.
The CMA exam now also test “Technology & Analytics”.
Part 1 Financial Planning, Performance and Analytics(4 hours - 100 questions and 2 essay questions)
Part 2 Strategic Financial Management(4 hours - 100 questions and 2 essay questions)
External Financial Reporting Decisions
Planning, Budgeting & Forecasting
Performance Management
Cost Management
Internal Controls
Technology and Analytics
15%
20%
20%
15%
15%
15%
Level C
Level C
Level C
Level C
Level C
Level C
Financial Statement Analysis 20% Level C
Corporate Finance 20% Level C
Decision Analysis 25% Level C
Risk Management 10% Level C
Investment Decisions 10% Level C
Professional Ethics 15% Level C
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
About CMA
Overlap between CPA and CMA curriculum
4 parts of CPA exam:
Financial Accounting& Reporting (FAR)
Auditing & Attestation (AUD)
Regulation(US Tax/Law) (REG)
Business Environment& Concepts (BEC)
Indicative coverage on the CMA exam:
Covered on CMA Not Covered Not Covered Covered on CMA
CMA = Focus on Finance & Accounting
= CPA (-) Audit (-) Tax/Law
About CMA
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CMA certification requirements
Students can clear the 2-part CMA exam along with their graduation; later, meet the other requirements for the CMA certificate.
Professionals with 2+ years of experience only need to clear the 2-part CMA exam to earn the CMA designation.
To obtain the CMA certificate, candidates need to fulfill the following criteria:
Examination: Clear Part 1 & Part 2 of the CMA exam
Education Qualification - Bachelor’s degree Note: The education requirement may be completed prior to or within 7 years of passing the examination. This implies that students who are pursuing their bachelor’s are eligible to take the CMA exams.
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.#CMAmatlabMiles
About CMA
Experience Education
Examination
CMA=
3 E’s to becoming a CMA
+
CMA Training@Miles CMA ReviewWorld’s largest CMA course provider*
Global Platinum Partner of IMA, USSpecial bundle discount via IMA-Miles partnershipCorporate tie-ups & Placements for CMALead Instructor - Varun Jain, CPA, CMA, Harvard B-School alumnus
#MilestoCMA
*Highest no. of enrollments globally for CMA exam in English
IMA-Miles in India
Miles Education has been instrumental in building:
DEMAND for CMAs from 220+ corporates (for hiring and L&D) SUPPLY of CMAs for B2C (training at 70+ universities & autonomous colleges)
8 SUCCESSFUL YEARSof building theCMA ecosystem in India
#MilestoCMA
Miles is IMA’s Global Platinum Partner & the world’s largestCMA course provider*
*Highest no. of enrollments globally for CMA exam in English
Miles CMA - Course offerings
Led by Varun Jain - world’s favourite CMA instructor.*
Miles is the global platinum partner of IMA.
Miles is world’s largest CMA course provider.*
Miles CMA Study Materials compiled in exam-focused notes format and including multiple aids for conceptual understanding and memory.
250+ hours of blended learning experience: 50+ hours of pre-recorded videos including both "concepts on the whiteboard" & "annotations on your book" by Varun Jain 200+ hours of live online & classroom training by Varun Jain & Team spread over 100+ webinar & classroom sessions
Up to 100+ one-on-one mentoring sessions.
Advisory support for CMA exam application, CMA certification, etc.
100% Placement assurance (for self-sponsored candidates).
*Highest no. of enrollments globally for CMA exam in English*Varun’s CPA & CMA videos on YouTube have over 20M views
#MilestoCMA
One-Mile-at-a-time!
CMA Gameplan - Pass the 2 exams by Sep 2022
#MilestoCMA
During classes: Concept webinars @6 hrs/week Practice webinars @6 hrs/week Varun’s Videos @4 hrs/week Practice sessions @6 hrs/week
Post-classes:Revision @22 hours/week.
CMA
Part 2Classes
JAN2022
FEB2022
Part 2Exam
Part 2MentoringSessions
MAR2022
APR2022
MAY2022
Part 1Classes
JUN2022
JUL2022
Part 1MentoringSessions
AUG2022
Part 1Exam
SEP2022
Miles training videos = Concepts + Annotations
Miles’ training videos by Varun Jain, world‘s favourite CPA/CMA Instructor.
50+ hours of pre-recorded videos including both "concepts on the whiteboard" & "annotations on your book”.
About Varun Jain: Co-founder of Miles Education Investment Banker at Morgan Stanley Harvard B-School alumnus
mileseducation.com/cma/varun-jain-cma-videos
#MilestoCMA
Section BLong-Term Financial Management
CM
A P
art
1
Section BForecasting Techniques
Section CCost & Variance Measures
CM
A P
art
2
Section AWorking Capital Analysis
Why is Miles world’s largest CMA course provider?
MILES CMA
IMA’s global platinumpartner; world’s largestCMA course provider*
Live online training &face-to-face masterclassesby world’s favourite CMA instructor Varun Jain
Concept-focusedvideos with “concepts onwhiteboard” & “annotations/highlighting on book”
360 degreesupportto clear CMA (2022 pass guarantee)
100%placement rateat MNC’s
Mostly non-approved; very few enrollments
Average quality of instruction
Little focus on concepts
Little or no support/clue on placements
Limited-period support. No Pass Guarantee
OTHERS
Miles to CMA
*Highest no. of enrollments for CMA exam in English
Franchise model - simply resell content of US providers. US content istailored for US accounting graduates (not for international candidates)
CMA exam & certification expenses
Students: ₹84,400 study materials & training (with EMI options) IMA fee in 2 installments $118 $400 [for exams]
Professionals: ₹84,400 study materials & training (with EMI options) IMA fee in 2 installments $283 $600 [for exams]
Miles CMA Fees
Miles CMA Study Materials
Miles CMA Training & Support Fees
GST [on Training & Support Fees] @18%
Total CMA Training Fees (incl. of taxes)
Students Professionals
₹ 49,000
₹ 30,000
₹ 5,400
₹ 84,400
₹ 49,000
₹ 30,000
₹ 5,400
₹ 84,400
Less: Savings in IMA fees (by virtue of Miles beingan IMA Platinum Partner)
Net Incremental Cost [calculating the way a management accountant would!]
(₹ 35,264) (₹ 40,280)
₹ 48,776 ₹ 44,120
IMA Fees Bundle *
IMA Membership Fee (for students = 3 years;for professionals = 1 year) + GST 18%
CMA Certification Entrance Fee + GST 18%
CMA Exam fees (Part 1 & Part 2)
$188$34
$622
$245$44
$250$45
$830
$117$21
Total (Study Materials + IMA fees) $982
Less: Bundle Discount for Miles ($464)
Net (Study Material + IMA Fees) ^ $518
₹ 74,632
(₹ 35,264)
₹ 39,368
$1,414
($530)
$883
₹ 107,464
(₹ 40,280)
₹ 67,184#CMAmatlabMiles
#MilestoCMA
#MilestoCMA
Miles Education is India’s largest training provider for US CPA, US CMA, US CFA.Miles is partnered with 220+ MNCs and 70+ Universities.Miles works with universities to train students to help them be industry-ready as they graduate.
Not just CMA, it’s #FinancematlabMiles
Certified PublicAccountant (CPA), US US public accounting license 4 exam, 12 months timeline @Miles, India's #1 CPA Review Placements @Big 4 & MNC’s
Certified Management Accountant (CMA), US Global finance professional 2 exam, 6-8 months timeline @Miles, IMA’s Platinum Partner Placements @MNC’s
Chartered Financial Analyst(CFA), US Investment management 3 levels, 2-3 years timeline @Miles, exclusive India partner of Kaplan Schweser
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Miles Education - Global Presence
www.mileseducation.com
Miles is present across 20+ cities in India, UAE and US.
Batches for CMA start every 2 months.
#MilestoCMA
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