The US CPA designation:

- US equivalent of CA
- 12 months course
- Only 4 parts | Covered over 28 Sunday classes
- Exams in Dubai or US
@Miles, India’s largest CPA review, and
“Registered Course Provider” with the AICPA, US;
Lead Instructor - Varun Jain, CPA, CMA, Harvard B-School alumnus
Section 1

The CPA Career

Roadmap to CPA = The US CPA designation
12 months
CPA = US Equivalent of CA

• CPA is the US
equivalent of • Global recognition (vs. National
Indian CA International recognition for CAs)
• CPA exam USPs Credibility • Opportunity with Big 4 & MNCs
• 4 exams only across India
• Exams in Dubai
(or US)
• 12 months / • Accounting (FAR)
1000 hours Knowledge • Auditing (AUD)
study Base • Tax (REG)
• Extensive career • Finance (BEC)
opportunities with
MNCs and Big 4
[fresher salary
• 4 exams only, 28 Sunday classes
packages > INR
• Can complete within 12 months
600k] Course USPs • Anywhere: US or Dubai
• Anytime: 8+ months/year

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Roadmap to CPA = The US CPA designation
12 months
Why only 2-4 exams for US CPA/CMA certifications?

• US professional • Indian (or even UK)

qualifications US Indian CA / professional
“COMPLEMENT” CPA / CMA UK ACA qualifications tend
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, 13-16 exams, 3 under-graduate!
crisper in content and single-level 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

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Roadmap to CPA = The US CPA designation
12 months
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, Tata Steel, HDFC, ICICI, Infosys,
Wipro
• F&A players like
Accenture, •Auditors of these MNCs
Genpact, IBM • For audits, the partner on the audit for a US SEC-registrant needs to be a
Capgemini, HP, CPA, and they always prefer to have CPAs on the engagement team
Infosys, others
• Especially Big 4 – Deloitte, EY, KPMG, PwC

• MNCs [especially, •F&A companies

US-based MNCs]
• Includes Accenture, Genpact, Capgemini, IBM, HP, Infosys, Arvato, Xerox,
Wipro, TCS, Cognizant, EXL, Steria, WNS, others

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Roadmap to CPA = The US CPA designation
12 months
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 CPA Exams & License

Roadmap to CPA = The US CPA designation
12 months
CPA Examinations – Only 4 Exam Parts

• Financial • Auditing & • Regulation • Business

FAR

AUD

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 (4 testing windows): Jan 1 - Mar 10, Apr 1 - Jun 10, Jul 1 - Sep 10, Oct 1 - Dec 10
• ANYWHERE in the US or few Middle East locations (incl. Dubai) 8
Roadmap to CPA = The US CPA designation
12 months
CPA Eligibility - Expert guidance by Miles

• Minimum education requirements for US CPA exams and license:

• Generally, most Indian
B.Com graduates are CPA Exams = CPA License =
eligible to take the 120 credits 150 credits
CPA exams

• For non-eligible • General rule: Every year of university education in India is equivalent to 30
candidates, Miles CPA semester credits of US education.
Review facilitates an • Using 1 year = 30 credits,
“online” Post • B.Com = 3 years x 30 credits = 90 credits
Graduate Diploma in • Exception: If B.Com is completed in 1st division from a NAAC ‘A’
Public Accounting as
university, the 3-year B.Com would be treated as 4 years of US
a bridge course; the
education, i.e., 120 credits for B.Com alone
diploma is from Amity
• B.Com + M.Com/MBA = 90/120 credits + 60 credits = 150/180 credits
University, a NAAC-A
• B.Com + CA/CS/CWA = 90/120 credits + 60 credits = 150/180 credits
rated University based
in Noida, India • CA/CS/CWA recognized by few states as 2 years of US education

• Not Eligible [may go through the 1-year Post Graduate Diploma in Public
Accounting facilitated by Miles CPA Review]

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Roadmap to CPA = The US CPA designation
12 months
CPA Exams & License – cracking the code!

CA CPA
• 55 State Boards of
Accountancy ELIGIBILITY - ICAI 55 SBAs
(SBAs) – each rules decided by: [varying rules with different
authorized to issue choice of evaluation agencies]
the CPA license,
and decide their
EXAMS – ICAI AICPA
own eligibility rules
conducted by: [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 / ICAI 55 SBAs
examinations
LICENSE – [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]

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Roadmap to CPA = The US CPA designation
12 months
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
(PGDPA / PDPSF)
• Experience – Miles
has full-time • As per regulations, for CPA exams taken in international locations
licensed CPAs who
(like Dubai), the exam credits lapse unless the candidate is able to
are able to verify
experience for the get to the CPA license within 3 years of clearing the CPA exams
CPA license • One the most critical requirements for international candidates is
• Ethics - Exam from “Experience” – and Miles is the only review course provider in India
India; no travel with licensed CPAs (including, of course, the National Instructor -
Varun Jain, CPA) who are authorized to verify the accounting/finance
experience of candidates to help them achieve their CPA license

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Section 3

CPA Training @Miles CPA Review

- India’s largest CPA review
- “Registered Course Provider” with the AICPA, US
- Lead Instructor - Varun Jain, CPA, CMA, Harvard B-School alumnus
Roadmap to CPA = The US CPA designation
12 months
Miles CPA Review - Course Offerings

• Miles CPA Review • 200+ hours of classroom training over 28 Sundays

is the largest
provider of CPA • Miles CPA Review Concept Books in exam-focused notes
classroom training
in India
format and including multiple aids for conceptual
• Miles is also a understanding and memory
“Registered Course
Provider” (RCP)
• Miles Online Test Bank Access for online practice questions
with the AICPA, US and mock exams (8000+ MCQs and 500+ Simulations
• Miles provides the
best in-class study
including enhanced Simulations and DRS’)
material, a unique • Logistical support - Exam Eligibility, Foreign Credential
classroom delivery
model and extensive Evaluation, NTS, UAE /US travel
student support to
help candidates get • CPA licensure assistance
to destination CPA • Placement assistance (for self-sponsored candidates)

13
Roadmap to CPA = The US CPA designation
12 months
Miles Training Videos = Concepts + Annotations
CPA.MilesEducation.com
• Miles’ videos are
pre-recorded by
Varun Jain, CPA,
CMA, who is India’s
favorite CPA and
CMA instructor
• About Varun:
• Co-founder of
Miles Education
• Ex-investment
banker at Morgan
Stanley
• Harvard B-School
alumnus

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Roadmap to CPA = The US CPA designation
12 months
Miles CPA Training Delivery Model = “iCPA”

• Miles CPA Review

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

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

Concepts &
Annotations
• Classes conducted
in Ahmedabad,
P • PRACTICE QUESTIONS
• “Live” / c.20% of class time allocation

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

Mumbai, Pune
Samples videos available on: MilesCPAreview.com/videos
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 Roadmap to CPA = The US CPA designation
12 months
Miles ensures the needed “discipline” to be a CPA

• CPA exam prep

•9 •7 • 7 • 5

AUD

REG
FAR

BEC
requires strong sense
Sunday Sunday Sunday Sunday
of discipline. Herein, classes classes classes 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 FLEXIBILITY DISCIPLINE
the class schedule [Is already there [Required to clear
• Study atmosphere for CPA exams] the CPA exams]
in class; interaction
& networking with
peers & faculty

16
Roadmap to CPA = The US CPA designation
12 months
Miles CPA Course Fees

Classroom + Online
Classroom Training = Online Training =
Training =
INR 109,800 INR 109,800
INR 133,400

• Miles Concept Books • Miles Concept Books • Miles Concept Books

• Online Testbank • Online Testbank • Online Testbank
• Classroom Training • Webinar Training + • Classroom/Webinar
Online Videos + Online Videos
• Training videos • Assistance for • Assistance for • Assistance for
recorded by Varun Evaluation, State Evaluation, State Evaluation, State
Jain, CPA, CMA - Board & NTS Board & NTS Board & NTS
India’s favorite CPA • Assistance for CPA • Assistance for CPA • Assistance for CPA
instructor license license license
• For sample videos,
visit: www.
MilesEducation. • Classroom training model is recommended as it helps in enforcing
the “discipline” needed to clear the CPA exams
com
• Online model is for those who need flexibility in their exam
preparation or in locations where Miles classroom sessions are not
conducted

17
Roadmap to CPA = The US CPA designation
12 months
CPA Exam Expenses*
Phase I (Exam Preparation @Miles CPA Review) - Payable to Miles CPA Review
Total CPA exam Study Materials $533 ₹ 39,000
expenses estimated Training Fee (classroom OR online) $819 ₹ 60,000
at INR 388K which Net Miles CPA Review Course Fee $1,352 ₹ 99,000
includes GST @18% (on Training Fee) $147 ₹ 10,800
Total Miles CPA Review Course Fee * $1,499 ₹ 109,800
• Miles fees
• Evaluation fee
(payable to Phase II (Applying for the Exam) - Payable to US agency / state board
evaluation agency) Foreign Academic Credential Evaluation $300 ₹ 21,975
CPA Exam Application Fees : $950 Exam fee approx. $2,400 ₹ 175,800
• Exam fee (payable
+ $1426 International testing additional fee
to US state board)
Total Official Expenses ** $2,700 ₹ 197,775
• UAE visa, travel &
stay – 2 trips PHASE III (Taking the Exams - Dubai travel expenses)
(payable at the time Return ticket to Dubai (UAE) – for 2 trips as recommended $500 ₹ 36,625
of UAE travel) UAE - Visa Fees $200 ₹ 14,650
Stay cost in Dubai (2 trips x 4 days @$50/day) $400 ₹ 29,300
Total for Dubai Travel Expenses ** $1,100 ₹ 80,575

Grand Total of CPA Exam Expenses* $5,299 3,88,150

* Exchange rate used: US $1 = INR 73.25 (excludes foreign currency markup fees)
** Expenses stated are only indicative and may vary due to reasons outside of the control of Miles CPA Review. 18
Roadmap to CPA = The US CPA designation
12 months
Timeline
Month 1 [e.g., Jan] Miles CPA – 28 Sunday classes Miles: INR 110K
[with few breaks]
Month 2 [e.g., Feb]

Month 3 [e.g., Mar] 8 hrs on Sunday + 12 hrs during

Evaluation: INR 22K
the week = 20 hrs / week
Month 4 [e.g., Apr] => 80 hrs / month
=> c.550 hrs over 7 months
Month 5 [e.g., May]

Month 6 [e.g., Jun]

Month 7 [e.g., Jul] Exam Fees: INR 176K

Month 8 [e.g., Aug]

Revision & exams
Month 9 [e.g., Sep] over 4.5 months
Month 10 [e.g., Oct] 2 exams => 100 hrs / month Dubai: INR 40K
=> c.450 hrs over
Month 11 [e.g., Nov]
4.5 months
Month 12 [e.g., Dec] 2 exams Dubai: INR 40K
Total = c. 1000 hrs of study 19
Roadmap to CPA = The US CPA designation
12 months
Miles’ Finance & Accounting Offerings

• Miles Education is
the “official” and
India’s largest training
provider for US CPA
and US CMA Certified Public Certified Management
• Miles has partnered Accountant (CPA), US Accountant (CMA), US
with Wiley for WCBA  US equivalent of CA  Global finance professional
and IIM-L analytics
 4 exams, 12 months timeline  2 exams, 6 months timeline
programs
 @Miles, AICPA’s Registered  @Miles, IMA’s “official” &
• Miles partners with Course Provider Platinum Partner
corporates and trains
working professionals
to enable their career
progression
• Miles works with
universities to train
students to help them
be industry-ready as
they graduate

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Roadmap to CPA = The US CPA designation
12 months
Miles Education - Presence in India
www.MilesEducation.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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