ACCA (the Association of Chartered Certified Accountants) is a well know certificate for accountants internationally. I have taken this course for the first time and I’m studying now Taxation (F6) at Bangor management centre. Its a fun subject and I really have learned a lot. It teaches you how taxation works in UK along its calculations. You learn about how to calculate taxable incomes from various people. Be it employee , self employed , business man or investors you name it. My exam will be on December 6th and I have been told that I should train my self to answer past exams in order to pass. I was exempted from four ACCA modules (F1-F4) because I have done a master degree in accounting. The funny thing is my taxation tutor has told me that she needs to do higher studies and she already has enrolled in Msc accounting and finance like I did and now she is accepted in my past university (Bangor University). She told me that she needs it to develop her academic skills. She is already good at the professional side but maybe she needs the analytical skills that academics posses (remember my old post : Academic Entrepreneurship). Unfortunately I could not continue at Bangor university to do PHD because my targeted tutors are full and they can not supervise any extra students. So I asked my targeted genial tutor for a recommendation (related to my PhD topic) and she advised me 2 persons. I briskly checked them out and indeed they have a good reputation in accounting research. My current PHD topic which I’m willing to do is about Graphical representation of financial information by corporations. I like that topic and I insist not to change it for any reason. However that have a price as not a lot of academics around the UK universities share this interest, and that made me spent a longer time and bigger effort searching for the right person at the right location. I managed to find some good ones, but I did not choose them because these institutions don’t have a high RAE rating which is very essential for my future career in Kuwait. I’m still waiting for a response from one of the universities, the sooner I get the offer the better, as my time here in UK is crucial and limited.
I was searching for a stock market simulation game in the web and in iTunes. The search was good as I discovered plenty but with different quality. Before I tell you what I found , I would like to talk about stock market games and what they can do for us such as advantages and benefits.
Stock market simulation is an educational tool used today for educational purposes. The main users of this technology are professionals who are involved in investments. They practice their own techniques and strategies in order to improve their skills. Some schools and universities do use them to teach their students stock trading. The simulators mostly follow real market data in real time, they give you the feeling of being truly in the market.
Some organisations and schools organise stock trading competitions. Students are encouraged to manage virtual stocks portfolios and the winner of course is the one with more money or higher money return. My college for example—Bangor business school participates in a national event annually called “stock market challenge” .
Advantages of stock market simulation:
1- Learning by doing :They can teach you how trading and investing works by showing you the basics.
2- Familiarity with industries and companies: You can also get familiar with company names and industries.
3- Portfolio management: You will also learn how to work on your portfolio and manage it.
4- Wisdom and expertise: No one can succeed without making mistakes , learn from your mistakes and apply what you learn in real money
Disadvantages:
Risky behaviour: You are investing virtual money, so you might act with overconfidence and you get lucky with profits because the market trend is your friend (for now). You might think you are ready for the real world and your strategy is superb, you take your wallet and foray some real stocks , BOMB ! You lose money. What happened ? your current strategy don’t work this time. So to protect your self from being caught in this kind of situation, don’t rush into real money, take your time and keep practicing.
Experience bias: I think you know some people who have been driving cars for many years but still bad drivers. Either their skills are not good or they have developed bad habits. The same case goes for investing. No matter how much time you have invested playing stock market game, that does not necessarily make you a good trader. You must learn the rules of the game. Read books , attend seminars and interact with experts- share with them your experience and ask for a feedback. Investing my friend is a group (team) activity and should not be done alone.
My personal advice : Its OK to make mistakes that’s what the simulation is for. However, if you want to learn best , then pretend that the virtual portfolio is a real one.You can act serious by doing what most successful investors do before buying stocks. I wont mention their habits or the process they go through here in this post because its lengthy and worth to be explained properly in separate posts. I will consider it in the future.
There are plenty of simulators out there, I have tried 3 and here they are :
My daughter Fouz and my son Ahmad go to a school named Hills Groove. Its located in Bangor not far from my home in Anglesey, its only 10-15 minutes by car if there is a traffic in the morning. Well I went to see their Christmas play this afternoon, the funny thing is that I took my little daughter Amina with her mom with me. Amina was asleep the whole time, thanks God she did not cry up there while every one was listening. Speaking of loudness, couple of kids made a huge noise, that attracted every one’s attention. Anyway, they were two plays, one for the little once-Ahmad’s class, and the other was for Fouz-the older class.
While I was there, I missed the Gulf Cup – currently in Yemen- match between our national team Kuwait Vs. Saudi Arabia, because they were playing at the same time as the play. I was told the result and its a draw-nil.
The hot news nowadays in UK is the English (mainly) student protest against the increasing college fees and the unemployment. The students worry about not being able to pay for the high fees, and if they do –if they take loans as usual- they wont have jobs- which will make them unable to pay for their debts. From what I observe about what’s happening in USA and UK now reminds me of a book I read long time ago Rich Dad Poor Dad by Robert Kiyosaki. The book mainly argues that the common advice that we are getting from our parents: “Go to college and get a job” is an obsolete advice. The author finds it very risky to accept this advice in the information age we are living in. He explains that this idea is for and works well in the industrial age. Well what can I say more , I find the reality very much confirms the book’s message. I think many of us are still dependant on pay checks and our jobs, and we don’t feel the risk and the trouble of such dependence until we lose it. People seem to look for security and interestingly when you look for security you lose it. As Kiyosaki puts it: the most secured place in earth is the prison. So if you want security you will live like a prisoner without freedom. This job-no job topic is big, and I’m going to talk about it alone in the future. My advice for myself first and you, is to try to liberate our minds as a first step toward being an information age inhabitant. We also have to watch what kind of advice we are getting and the type of people who are delivering it. Our kids in Hills Groove and the others in the universe should be taught by their parents on how to live according to their generation rules and not ours.
Happy Eid every one and Eid Mubarak. Today is a good day in Anglesey, sunny but a bit cold. I took the kids today to “The Fun Centre” in Caernarfon. They did not go to school, because I wanted them to celebrate the Eid. Its a holiday today in most Muslim countries but not in here the UK. This is my third Eid outside Kuwait (my home). I’m getting used it to it, although I miss being with my family- mom, dad and the rest. The atmosphere is fantastic up there. I spoke to mom (who is in Brighton with my sister) and I congratulated her. I also spoke to my family in Kuwait. My wife and Amina remained at home, because i think its too early for them to leave the house, for one thing its cold and my wife is still tired. Its worth to mention that the number of Kuwaiti students is increasing here at Bangor University in North Wales. Last year we were only 6 students. This year there are almost 13 students. I guess people in Kuwait started to get familiar about Bangor, as it was not known for the majority before. I also find the relationship between the Kuwaiti students warm and strong. Every one seems to care for, help and respect the other. Sometimes being far away from home makes the the students care for their own people.
I have a suggestion for the National Union of Kuwaiti Studentsofficials in London, to consider establishing a student representative for the Kuwaiti students in North Wales, as the number is increasing each year.It would be very helpful for both the students and the Union. I would like to suggest for the Kuwait Cultural Office-Kuwait to improve their web site and add more services and guides for the students. The thing that I have noticed here in UK – for example- , when a new student arrives (including myself), he/she has to find his rights/benefits from older student (that if he knows one) ! The Kuwaiti government provided services for its students, but no one knows them unless you ask or you are being told. I think it would be a better idea if they provide these information on their website or print them in hard copies.
I have been away from my country Kuwait since June 2009. Me and my family are staying this year and the next 3-4 years perhaps in the UK , to be specific in LLandegfan – North Wales . Its a beautiful little town at the heart of Menai Bridge in the Isle of Anglesey, great nature and friendly people. If you have read my “About” page you would notice that I mentioned my reasons for moving to UK. Yes Im doing at the moment an MSc Accounting and Finance at Bangor Business School for one year. Its a great course and It does teach you a great deal about investments and companies . So why I’m studying this major , well Its been 5 years now since I began trading and learning about the investment quarter. So i decided to improve my skills and knowledge and be a professional , I will also write about my learning experience in accounting and finance while Im studying in my blog efouz. I believe this will add value to my original topic “Entrepreneurship” some how and I hope you find it fun and informing.
tutor for a recommendation (related to my PhD topic) and she advised me 2 persons. I briskly checked them out and indeed they have a good reputation in accounting research. My current PHD topic which I’m willing to do is about Graphical representation of financial information by corporations. I like that topic and I insist not to change it for any reason. However that have a price as not a lot of academics around the UK universities share this interest, and that made me spent a longer time and bigger effort searching for the right person at the right location. I managed to find some good ones, but I did not choose them because these institutions don’t have a high RAE rating which is very essential for my future career in Kuwait. I’m still waiting for a response from one of the universities, the sooner I get the offer the better, as my time here in UK is crucial and limited.
