Request to CMA(US) & CMA(UK) Degree Holders & Students

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 14 July 2010

Dear Rahul,

Please provide the link of all three articles here...and compile the queries you have received and post the same...for easy reference.

Good Luck

1 Like

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 14 July 2010

Questions >

1) What are the Study Materail available in the market.? What is their expected cost?

2) Whether the institute provides you any study material while registering.?

Regards

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 14 July 2010

Originally posted by : Rahul Gupta
	Questions > 1) What are the Study Materail available in the market.? What is their expected cost? 2) Whether the institute provides you any study material while registering.? Regards

For CFA (US) study materials are provided by the CFA Institute and are included in the fees but they are valid for 1 year only. With the change in each year you need to take the new materials from the institute and that is mandatory and is included in the fees.

Also, study materials from Kaplan, Schweser are available in the market.

Rishab Mathur (M.com, CA) (111 Points)
Replied 14 July 2010

Originally posted by : Rahul Gupta
	Questions > 1) What are the Study Materail available in the market.? What is their expected cost? 2) Whether the institute provides you any study material while registering.? Regards

For CPA (US) There are no. of study material available in market some of them are of Beker's & Wiley's. It costs from $200 for basic book material to $1500 which includes Books, CD, online help, notes (in short a complete package). The basic books are good enough but it depends on person to person. However, No material is provided by NASBA (i.e the institute) nor they recommend any of them. You have to choose yourself.

1 Like

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 14 July 2010

CPA (US)

Question > I also heard from 2011 onwards the CPA exam patern are going to change. Will you be able share your views regarding how difficult or easy it is to pass CPA exams and is it possible for me to work as CPA in another state in US.

Answer > BY Rishabh Mathur, Pursuing CPA

1) Yes exam pattern is changing in 2011. But its not the pattern which will going to effect your passing the exams. Even today CPA exams are much diffrent from any other professional exams held in India and you have to work hard to come over it even more in your case since your commerce experiance is till graduation & you dont have an exposure of what a CPA or CA does. However, dont loose heart there are tutorial classes which can help you out with it.

2) For your question regarding whether you can practice in any other state. The answer is no. Each state has diffrent requirements & you have to settlle there requirements to get a license to practice there

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 15 July 2010

CMA (UK)

Question >

Presently I am eagerly awaiting for my CA Final Result. I have a confidence to pass my examination then I like to pursue CMA(US) or CMA(UK). I read your article, you have mentioned about the fees for the course, but you have not mentioned about any thing study material for both the course, cost of the material. Is any exemption(subject wise) available to members of the ICAI? and how to go about, if i pursue CMA(UK), should i register for level by level. Please clarify all of my doubts.

Answers > By Me

For study material of the courses, I didn't mentioned beacuse i am not aware of the material available in the market. May be if you search you will find many in the market. Also, the fees will be extra for such study materails. Nothing has been mentioned at the institute site for providing the study material in the said course fees. However, you can get them online or from market, but certainly it will cost extra. The fees mentioned is just the registration and exam fees.

For exemption, there is no Exemption in CMA(US) for anybody. For CMA(UK), the link for teh exemptions for CA is given in the article. You can check it from there. Also one important thing for exemptions from CMA(UK) is that the exemptions mentioned on the site are not confirmed. As per the provisions of CIMA, you need to first register, then only CIMA will confirm you the exemption. Till then , no exemptions is confirmed. This is bit hard, but nothing can happen.

Also, for Registration with CIMA(UK), in your case, you need not to go for Certificate Level, also after CA some papers at operational and management level are exempt. so you need to give only the rest. This can be given in any order. However, strategic level can be given only after passing operational and mangement level..

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 15 July 2010

I HAVE BOOKMARKED THIS POST AS THIS ONE CONTAINS SOME VERY USEFUL INFO AND LINK FOR ALL THREE GR8 ARTICLES. NOW IT IS EASY TO REFER THIS LINK TO OTHER MEMBERS.

REQUEST OTHER MEMBERS TO DO THE SAME...

THANKS

1 Like

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 19 July 2010

Question >

plz. site d relevance and future prospects of IFRS..n highlight d releative importance of it if pursued frm ICAEW instead of ICAI..

p.s.-also brief m, if possible, about CFA (US) & CPA (US) & CMA (US) & CMA (UK)...
not thre descripttion..just thre relevance for m..thnx again :)

Answer given by me >

First of all thanks a lot for reading may article.

Regarding IFRS relevance, I need to say that these are the accounting standards which are issued and created by IASB, which are in the process of implementation. The main purpose for its implementation by all the countries is to bring uniformity in the principles of accounting among all the countries. In India, these IFRS will be implemented in various phases starting from April 2011. All existing accounting standards will in near future will be replaced by IFRS or will be made compatible to IFRS. So, the it has its own relevance in future. For more discussion on IFRS, you can also check the IFRS Forum section on CA Club. Also check the following link >

/forum/ifrs-a-big-question--93046.asp

In my personal view, IFRS course from any institute is same in terms of contents since it willl cover IFRs knowledge only which will be same. However, its way and use differs. Like in ICAI, there are classes, e learning and exam, so it may not be suitable for person who can't go for classes. Also, for a member of ICAI, it will be cost effective too. similarly, for an Indian, IFRS from ICAEW will enable it to have an international degree and may enable him to understand some of the concepts and practices followed in UK.
So the choice depends upon the circumstances and preferences.

Regarding relevance of other courses as said in my articles, that CFA is more a Financial function, investment banking, portfolio management, equity and like whicle CPA is more like a CA, however it can be done in US and is more popular in US. Although in job, it will help you since today mostly companies have presence in US and other countries. But with CPA degree you can't practice as auditors outside US.

Regarding, CMA(US), it is a short term course in a the field of management accounting and reporting. while CMA (UK)
is a long term course and involves deep study of accounting and management concepts, budgeting , cost planning, management reporting and like.

Moreover, lastly I can say, whatever course you do choose based on your interest, cost, time devotion, it will add value to your profile and career.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 23 July 2010

keep sharing !!!

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 24 July 2010

Useful Comments by seniors on My article on IFRS (ICAEW,UK) & IFRS (ICAI,India)

Sivanesh Rajendran

Wrote on 18 July 2010

Ppl don't waste your time in studying IFRS now itself. The Indian Accounting Standards are not ready as yet. So wait for some time. Some institutes like KPMG are cheating by charging so much for what is not ready as of now.

CA SURENDRA KUMAR RAKHECHA

Wrote on 23 July 2010

Dear Rahul, very good presentation on your side. But I agree with Sivanesh Rajendran that big audit firms are cheating the participants in the name of IFRS "game." One can refer the book of Deloitte which is easily available at affordable price.

Rahul Gupta

Wrote on 24 July 2010

Rajendran & Surendra Sir > Ur experience vl definitely guide us. Here, I just explain course structure, its sole decision of user to do it as per its own requirement. I hope my article & ur advice vl help them in better way. Thanks 4 sharing and guiding.

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 24 July 2010

Link for the forum on article on CFAor CPA Course >

/forum/article-on-cfa-or-cpa-94785.asp

Rahul Bansal (Finalist) (35929 Points)
Replied 25 July 2010

bookmarked..............best of best...........

thanks a lot brother

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8014 Points)
Replied 09 August 2010

Question asked on 1st Aug, 2010

I am CA ( India ) qualified in Nov 2007 batch & working with MNC currently . I want to know when USA CPA exams will be held at overseas Locations & I am Graduate by correspondence ( not regular ) DU , so am i eligible for CPA USA as per the state requirement .

Answer By Rishabh Mathur >

As per the present rules you need to get your credentials evaluated to know whether you are eligilble for CPA or not. You can choose any of the evaluators on site https://www.naces.org/members.htm and for choosing the state for appearing, go to site Nasba.org. Pls. go through this site it will provide answers to most of your questions.

Regards