Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
If someone wants to learn about stocks and investments, is that easy to understand for a person with little to none background in finance.
What is the best way to learn ?
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
If someone wants to learn about stocks and investments, is that easy to understand for a person with little to none background in finance. What is the best way to learn ?
You dont need to have a background in finance to learn about stocks and investments. it is a big subject and I dont think I could do it justice in one post here. I have thought about starting a series of threads on this subject.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Ehsan Bhai, very nice introductory piece. Congratulations on a successful career and continued success with the halal meat business.
On a side note, 1974 was also the year India toured England and got out for 42 all out, with Eknath Solkar being the higher scorer at 26 (and Sudhir Naik being "caught for shoplifting". But I digress!
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Ehsan Bhai, very nice introductory piece. Congratulations on a successful career and continued success with the halal meat business.
On a side note, 1974 was also the year India toured England and got out for 42 all out, with Eknath Solkar being the higher scorer at 26 (and Sudhir Naik being "caught for shoplifting". But I digress!
I do remember that 42 all out, was watching it on TV.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
EB , thanks for sharing all this valuable information.
Question : I have heard and seen accountants complain that they have very long working hours and the companies arent very flexible about it .. is that a genuine problem with this career? is it not a straing 9-6 job?
Question: another thing I wanted to ask , how are auditors targetted? I mean are they targetted on client revenue or number of hours worked etc? and then when a person becomes a manager how is he targeted then? actually I wanna know how they are targeted at different levels of seniority .. For example a senior manager , then a director and finally a partner and a senior partner .. i have always wondered what key difference remains in their job roles and the targets they have to achieve monthly or quarterly ...
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Ehsan Bhai,wanted to ask a few questions yesterday. So here goes:
I always wondered about Enron. If I recall I think it was Anderson who was the auditor. How come the auditors missed what was going on.
Also, recently S&P, Moody's and Fitch (?) downgraded Citigroup, BOA et al after the horse had left the barn. Do these rating agencies do their own audits of individual companies or do they rely on auditors to provide tem data.
I assume auditors are paid by the companies to audit them. Is this not a conflict of interest. How come the general public was in the dark about the extent of damage done to these big banks?
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
You dont need to have a background in finance to learn about stocks and investments. it is a big subject and I dont think I could do it justice in one post here. I have thought about starting a series of threads on this subject.
Threads on stocks and investments, that would be awesome! If you can, please do it! :)
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
One question Ehsan - how was the seniors attitude during your early days of training at KPMG? I worked at Sidat Hyder in Pakistan (which is now EI). Back then there were all sort of making fun of the juniors and extortion of stipend at source for that juniors birthday party etc! :)
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Question : I have heard and seen accountants complain that they have very long working hours and the companies arent very flexible about it .. is that a genuine problem with this career? is it not a straing 9-6 job?
Extremely boring and non social profession!
Everywhere around the world if you see lights on a high rise in the commercial hubs, you can safely bet 75% are accountants there!
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
having worked in Saudi for 20 years my advice would be that if you are young and just qualified not only as a CA but any other profession go to middle east if you want to but spend a max of 4 years there, accumulate some money and return back to base and continue with your chosen profession. The longer you stay out there the more difficult it is to adjust back into your own country especially job wise. stay more than 10 years in Middle East and you hit 40, you have got very little chance of getting a job back in UK. When I came back to UK in 2002 I faced three big difficulties:
I was over 50 I had been out of the country for 20 years 9/11 had just taken place and I was a muslim
These three factors combined meant there was no job for me so I started my own. Today we employ nearly 200 people and also interviewed one of our team mod for a job in my organisation once. At that time she didnt know me and I didnt know her either. :D
MASHALLAH MASHALLAH.. my younger brother is gonna complete his ACCA soon he is in studying in dubai ..should i contact you for his job? :D
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
EB , thanks for sharing all this valuable information.
Question : I have heard and seen accountants complain that they have very long working hours and the companies arent very flexible about it .. is that a genuine problem with this career? is it not a straing 9-6 job?
Question: another thing I wanted to ask , how are auditors targetted? I mean are they targetted on client revenue or number of hours worked etc? and then when a person becomes a manager how is he targeted then? actually I wanna know how they are targeted at different levels of seniority .. For example a senior manager , then a director and finally a partner and a senior partner .. i have always wondered what key difference remains in their job roles and the targets they have to achieve monthly or quarterly ...
Not only accountants but I have seen lawyers and doctors working very long hours as well. It is as they say part of the job. I have done that but not now, 5pm and I am off and as soon as I leave work I switch off and dont take work problems home.
In your early career you just get paid a salary, at the higher level i.e manager and above things like performance comes into focus and they get rewarded in terms of bonuses and other perks based on their performance.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Ehsan Bhai,wanted to ask a few questions yesterday. So here goes:
I always wondered about Enron. If I recall I think it was Anderson who was the auditor. How come the auditors missed what was going on.
Also, recently S&P, Moody's and Fitch (?) downgraded Citigroup, BOA et al after the horse had left the barn. Do these rating agencies do their own audits of individual companies or do they rely on auditors to provide tem data.
I assume auditors are paid by the companies to audit them. Is this not a conflict of interest. How come the general public was in the dark about the extent of damage done to these big banks?
Enron was the end of road for Arthur Anderson as well. It no longer exists. Auditors have missed and messed up a lot of things, no one has ever questioned as to why the auditors missed all those glaring holes which in the end nearly brought down the worlds financial system.
I am not very familiar with the way S&P or Moody's operate but I assume that they have their own in house systems on which they rely for their ratings.
Auditors are paid by the company they audit. They are supposed to be independent and report to the shareholders not the board. But thats the theory reality is quite different.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Threads on stocks and investments, that would be awesome! If you can, please do it! :)
I have been busy and lazy but one of these days I will do it. :)
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
One question Ehsan - how was the seniors attitude during your early days of training at KPMG? I worked at Sidat Hyder in Pakistan (which is now EI). Back then there were all sort of making fun of the juniors and extortion of stipend at source for that juniors birthday party etc! :)
I found the attitude of the seniors friendly, helpful and professional.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
MASHALLAH MASHALLAH.. my younger brother is gonna complete his ACCA soon he is in studying in dubai ..should i contact you for his job? :D
:D
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
A question has been on my mind since I read the following:-
[QUOTE]
When I came back to UK in 2002 I faced three big difficulties:
I was over 50
I had been out of the country for 20 years
9/11 had just taken place and I was a muslim
These three factors combined meant there was no job for me so I started my own.
[/QUOTE]
Do you think going back to UK in 2002 was a smart move keeping in view the difficulties you faced?( Regardless of how you were successful later)
Or did you already have a backup plan before deciding to go back to UK?
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
A question has been on my mind since I read the following:-
Do you think going back to UK in 2002 was a smart move keeping in view the difficulties you faced?( Regardless of how you were successful later) Or did you already have a backup plan before deciding to go back to UK?
It was a move I had to make. As my family grew up first my son had to leave Saudi and come back to UK for his schooling as the British school in Riyadh only goes up to year 8. Than my daughter had to leave for the same reason in 1998 and along with that my wife left as well to be with our children. I spent 4 years on my own in Riyadh and that as you would know, living in Saudi on your own, can be very testing time. I was missing my family and than the prince I was working for died as well and even though his younger brother who took over the Arab News empire wanted me to continue I thought it was time to leave. I knew there were going to be difficult times ahead in UK but never realised that it was going to be that difficult. But than I love challenges, I have never shied away from them.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Some people form investment companies in British Virgin Island, Panama, Seychelles and other such places. And then they invest in the European Stock Exchanges - in shares, bonds and fiduciaries and transact in EUR, US$ and GB£. What is the advantage? Is there no corporate tax? The companies are legally in those countries but practically in Europe with their banks managing their portfolios.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
Some people form investment companies in British Virgin Island, Panama, Seychelles and other such places. And then they invest in the European Stock Exchanges - in shares, bonds and fiduciaries and transact in EUR, US$ and GB£. What is the advantage? Is there no corporate tax? The companies are legally in those countries but practically in Europe with their banks managing their portfolios.
These companies are formed for tax purposes. Most of the places that you have mentioned are tax havens and therefore you dont have to pay tax or minimal amount if you operate from there. Most of these companies are in complex form in so far that the actual owners are hidden and therefore the tax authorities in their home land find it difficult to trace them.
Re: Sneak Peek Series - EHSAN Bhai - Chartered Accountant ..
I found it really interesting to go through all the Ehsan Bhai posts. I just appeared for mod D exams and am gonna hunt for the article ship.