Basic Accounting – 10 August 2022
COURSE DESCRIPTION
This course is part of the Chamber Training Centre (CTC) Workplace Essentials category.
This half-day course is designed to transform accounting into easily understood concepts. This course is for anyone who needs to gain an understanding of basic accounting as part of their job.
Topics covered include:
- Learn the difference between debits and credits for different account types
- Understand the differences in financial statement categories, such as assets, liabilities, equity, revenue and expense.
- Practice calculating prepaid amounts, month end adjustments and accruals.
- The difference between Cash Accounting and Accrual Accounting
- How to read an Income Statement and Balance Sheet
- The basics of Payroll
INSTRUCTOR(S)
Lauren Christie
Lauren started her career with KPMG in London and moved to the Cayman Islands in 2008. During her time at KPMG Lauren specialised in Restructuring, including liquidations and administrations. She is a qualified Chartered Accountant (ACA), Chartered Financial Analyst (CFA) charterholder and holds the Certificate of Proficiency in Insolvency (CPI). She has over 14 years of experience in the financial services industry which includes audit, corporate finance and forensic accounting experience
Lauren now works with Berman Fisher and provides outsourced accounting, FC and CFO assistance to operating companies in Cayman as well as coaching and QBs training.
Lauren is a member of the CFA Society of the Cayman Islands, the Cayman Islands Society of Professional Accountants, 100 Women in Hedge Funds and the International Women’s Insolvency & Restructuring Confederation (IWIRC) as well as the Institute of Chartered Accountants England & Wales (ICAEW).
COST
| Membership | Cost |
|---|---|
| Member | CI$175.00 |
| Future Member | CI$250.00 |
CANCELLATION POLICY
Cancellations must be received in writing 72 hours prior to the course in order to obtain a refund. No shows will be charged the full amount.
PARKING
Parking is available in any VISITOR designated parking space.
The event is finished.
Date
- Aug 10 2022
- Expired!
Time
- 9:00 am - 1:00 pm
Cost
- $175/ $250
Location
Unit 4-107, Governors Square 23 Lime Tree Bay Avenue, West Bay
- Unit 4-107, Governors Square 23 Lime Tree Bay Avenue, West Bay
Latest updates
George Town, 1 December, 2023 — Deloitte has announced the appointment of Cindy Hislop to Managing Partner in the Cayman Islands, effective December 1st, 2023. Cindy Hislop succeeds Stuart Sybersma, who has served as Managing Partner of Deloitte in the Cayman Islands since 2012, and will be retiring on May 31st, 2024. This announcement follows a series of milestones for the firm, including their 50th Anniversary in the Cayman Islands, and the relocation of their local office to Camana Bay. For more than three decades, Stuart served Deloitte’s clients and people in multiple roles, within the Cayman Islands, the Caribbean and Bermuda Region (‘CBC’), and globally. These included as Financial Advisory Partner, Cayman Islands Managing Partner, and Chair of the regional (CBC) Board. Under Stuart’s tenure, Deloitte experienced continued and exponential growth, driving industry expertise and innovation, solidifying its market leadership. Stuart also spearheaded impactful community programs such as Deloitte’s WorldClass commitment – focused on providing education and access to opportunities for underprivileged members of the community; and WorldClimate – Deloitte’s global sustainability initiative. Cindy Hislop has been with the with the Cayman Islands firm for almost thirty years, and became Partner in 2008. She has a remarkable trajectory in diverse roles within the firm, including as Audit & Assurance Partner, Talent Partner, Cross-Border Audit Leader, Crisis Management Team Leader, and as a Member of Deloitte’s regional (CBC) Board. As a Deloitte Scholarship recipient herself, Cindy continues supporting the program as a member of the Scholarship Committee. In addition to her Deloitte roles, she has also served for many years as Chair of the Cayman Board of Directors for Help For Children (‘HFC’), and as a Member of the Global Board of HFC. Stuart Sybersma said his successor’s “expertise, sharp client focus and people-centric nature have steadily contributed to the firm’s growth and journey towards market leadership. “Cindy is an exceptional leader, deeply connected to our people and community. She has been an outstanding role model to young Caymanians and all professionals who aspire to succeed in their chosen career.” He added, “Having worked together for decades, I am excited for Cindy’s appointment to our new Managing Partner, a position I know she will excel in.”
Are you seeking to introduce new products to the local marketplace or to become a representative for new lines of products or services from different countries? Panama is the newest destination now served by Cayman Airways and the Chamber wants to help you to explore this new destination as part of a trade mission scheduled for between 4 and 7 March 2024, with an option to stay until 11 March. Our mission will use the Chamber’s contacts to link small, medium-sized, and growing businesses here with important suppliers, government officials, and trade associations in Panama. Delegates who attend the mission will attend the Expocomer Trade Show, the largest gathering of exhibitors from around the world in Central America. https://www.expocomer.com/en/ Establishing different trade routes is vital for Cayman’s ongoing success and resiliency. In June 2023 Cayman Airways opened a direct flight to Panama which provides many exciting opportunities for trade. President Nelson Dilbert and CEO Wil Pineau joined the CAL and government delegates with the purpose of connecting with the American Chamber of Commerce in Panama. The trade mission in March 2024 is the result of their efforts, building on earlier trade missions beginning in the mid-2000s when CAL first opened the route. With significant increases in the cost of living and the cost and doing business, more direct options for trade are certain to offer new opportunities to local businesses, who will be able to cut costs by cutting out unnecessary intermediaries. The trade mission package will include admission to the Expocomer Trade Show hosted by the Panama Chamber of Commerce, an optional trip to the Free Trade Zone and the Panama Canal, transportation, hotel accommodations, and a welcome reception. If you are interested in attending, please contact Wil Pineau at 743-9122 or email wil.pineau@caymanchamber.ky or Emily Sintorn at 743-9126 or email emily.sintorn@caymanchamber.ky
Observe the joy in your loved one’s eyes as he or she discovers the perfect gift nestled under the tree. “We believe in making your moments sparkle,” said Rocky’s owner, Rakesh Baxani. Rocky’s Diamond Gallery specialises in unique items of jewelry, to match unforgettable moments in life: “From dazzling rings and timeless necklaces to beautiful bracelets and watches, you are welcome to browse our selections at https://www.rockysdiamonds.com/ visit our waterfront showroom in Georgetown to find the perfect gift for everyone on your list. At Rocky’s Diamonds, we make moments into masterpieces,” Rakesh said.
More than 50 members, friends, and family were treated to an amazing journey through 5,000 years of Greek history, during the Chamber Travel Club’s trip to Greece in October. The trip included many different tours to spectacular sites, enabling the travelers to walk in the footsteps of Socrates on the Acropolis, examine artifacts of Athens’ Golden Age at the outstanding Acropolis Museum, or sail through the scenic Corinth Canal and enjoy the insights of a local guest speaker on the contemporary Greek economic and social scene. The Chamber Travel Club is a great, stress-free way to explore the wonders of the world. Airfare, transportation, tours, and accommodation are included in an affordable package price. Members and guests can spend less time worrying and more time relaxing while enjoying local culture, sights, and sounds. In previous years, the Chamber Travel Club has visited the Great Wall of China, the pyramids in Egypt, and Machu Picchu in Peru. Just one more benefit of being aChamber member! Next year’s destination is a safari in South Africa. You will be able to book your trip in early 2024, so look out for the announcement in Commerce Matters so that you can take advantage of our ‘Early Bird’ discounts!
New rules, unanimously passed by MPs on Thursday 23 November, will allow Caymanians to withdraw pension money to pay off mortgages or help to buy or build new homes, subject to conditions. MPs voted in favour of the National Pensions Amendment Bill on the third reading. There were significant amendments made to the bill during the committee stages which increased the maximum withdrawal allowable for construction or home purchase from $35,000 to $50,000, while increasing the amount to pay off an existing mortgage to $100,000. For more information contact the Cayman Islands Department of Labour and Pensions here: https://archives.gov.ky/sites/dlp/dlp.gov.ky/portal/page/portal/dlphome.html
Established in 2018 by Mirabelle D’Cunha, Sivananda Wellness, and Movement Ltd helps individuals and organisations increase energy and improve clarity, and fulfillment using mindfulness, resilience, and vetted technology-driven biometric stress management programs. “I saw that stress management and resilience were offered more as wellness tasters, well-intentioned but ineffective because of the lack of consistency in taking theory into practice,” D’Cunha said. ’Employees, who are real people, saw stress as something that was wrong with them, something out of their control. I want people to understand the neurobiology of stress and then take consistent action to hack the stress response and convert it into the flow response. When we understand science, we can understand our system and we can take charge of rewiring it. That is true empowerment and that is always my approach.” “When I first arrived in Cayman, my focus was on getting my young family settled, to enable me to be optimally placed to support others. My foray into corporate work came through my one-to-one clients who are mostly high achievers who had challenges with focus, memory, sleep, and hypertension. They experienced significant changes working one-to-one and invited me to present short lunch and learns as well as longer programmes at their organisations.” Sivananda Wellness and Movement’s clients include several accounting firms, real estate companies, law firms, regulatory organisations, and several not-for-profits including the National Trust, and Cayman Islands Cancer Foundation. “I partner with their HR departments. Right now, I am doing a whole cohort with the Caribbean jurisdiction of a ‘Big-4’ accounting firm, a one-month programme using technology and biometrics to shift their stress responses. You can think of them investing three minutes, three times a day to take their nervous system to the gym,” D’Cunha said. “It is beneficial because it’s not based on a one-off ‘lunch-and-learn’ sort of model, but because they practice stress management techniques daily. The more you practice, the better your stress response. This can mean long-lasting benefits for individuals, employers, and the wider community.” “My goal is for more programmes that are based on small steady incremental shifts every day for sustained change. What I do differently from everybody else is provide daily accountability and support. For example, the Heart Math programme has participants practicing for three minutes three times a day using breathing and biometrics to shift from a state of stress to a state of ease. Every week on our call, they learn a simple new technique, share their questions and we troubleshoot any challenges with them nurturing their goal.” For more information visit https://mirabelledcunha.com/ or email heartmathky@gmail.com
Cayman Connection is a global not-for-profit membership organisation connecting, supporting, and celebrating a global community of Caymanians, friends, and associates of the Cayman Islands. Kate Kandiah founded the network in 2012 in conjunction with CIGO-UK and DOT. “Our vision is to connect the Caymanian diaspora to home whilst providing opportunities to improve their quality of life abroad. Through access to our services and unique network, our global community promotes the Cayman Islands and our way of life to benefit all Caymanians,” said Executive Director, Ashlea Smith. Cayman Connection’s mission is to build a strong support network of people through a shared connection to the Cayman Islands and across the world. It includes supporting the well-being of all young people of the Cayman Islands, whilst living, studying, or working overseas. While promoting knowledge, skill building, and connectivity among Caymanians overseas. “We take an inclusive Taking an inclusive approach to all those who love Cayman + Working collaboratively with others I nfusing fun into all we do,” Ashlea said. While Cayman Connection was born from supporting students and young people of Cayman, the network has grown to become a platform serving members across the globe. It has expanded its reach to anyindividualliving or moving overseas associated with the Cayman Islands. Activities and programmes support and celebrate the overseas community, such as the ‘Making Waves Awards’ programme, which recently held its awards evening at the National Gallery, and the ‘A-Z series for overseas students. “We are excited about our future work with the Chamber of Commerce, and through this invaluable relationship, we will undoubtedly position our organisation to reach new heights. We believe that the training we will access, and the connections we will make as members of the Chamber will be imperative to the growth of Cayman Connection’s success.” Ashlea said.
Mark the date! Five different companies created by Junior Achievement (JA) students will be showcasing their unique products at the JA Holiday Market, held at The Paseo, Camana Bay, on Saturday, 16 December from 4 pm to 8 pm. The JA Companies programme encourages the Year 11 students, drawn from Cayman’s High Schools, to start their own businesses, and develop their own products and marketing strategies, with the help of experienced business advisors from member companies, who volunteer to guide the students. “We would love to see as many people come out to support the market,” said Programme Coordinator Swan Sandoval. “This market represents the culmination of eight weeks of hard work, both from the students themselves, and volunteers from each of the advisor companies, without whose help and guidance the programme could not have gone ahead. A huge thank-you to Cayman Airways, CIMA, CITCO, Dart, and MUFG.” Around 12 students, aged between 16 to 18, comprise each of the companies, creatively using their talents to form teams that make unique products, market and sell them. “Recreate,” is acompany focusing on reusing, recycling, and repurposing. “Beaded and Braided,” makes beautiful and unique jewelry, while “Crafted” is a company making wonderful wire sculptures for home décor. “Prop – focuses on plant propagation, while “Interlocked,” makes beautiful jewelry holders. If you would like to find out more, and maybe pick up some unique gifts for Christmas, then come to the JA Holiday Market to support Cayman’s next generation of entrepreneurs.
Nominations are being accepted from interested Chamber members in good standing who would wish to be considered to serve on the Chamber Council. The following positions are available for nomination: Vice President, Treasurer and Councillor (3 positions) The Vice President’s role is a four-year commitment. Once elected, the Vice President would automatically assume the office of President-Elect (2025), President (2026), and Immediate Past President (2027). The Vice President serves on the Chamber’s Executive Committee. The Executive Committee meets monthly or more frequently if necessary. The Treasurer is elected each year and is responsible for overseeing the financial operations of the organisation and works closely with the Chief Executive Officer and chairs the Budget and Finance Committee. The Treasurer also serves on the Chamber’s Executive Committee. A Councillor serves two years (2024 & 2025) and is responsible for providing the Council with updates on the industry sector that he/she represents. The Council is the policy making body for the organisation and works closely with the Chief Executive to develop the Chamber’s Strategic Plan, Advocacy Plan and Legislative Agenda. If you wish to be considered for any of the above roles, please submit a short biography and a picture to wil.pineau@caymanchamber.ky by Friday, January 6, 2024.