Basic Accounting – 10 May 2023
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
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).
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 is available in any VISITOR designated parking space.
- May 10 2023
- 9:00 am - 1:00 pm
- $175/ $250
- 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 reopening updates
More than 50 high school students aged between 15 and 16 attended the Cayman Islands Chamber of Commerce’s Mentoring Cayman Educational & Careers Day which was held at the Camana Bay Cinema on Friday, 13 January. The purpose of the event was to provide the students with information about the different careers that are possible in Cayman. The Chamber invites different professionals from a wide range of industries based on the career interests of the students and gives the students an opportunity to ask questions they may have at the end of each presentation. Speakers from local colleges and universities were also invited to talk about the different programmes available. The first presentation, from HR professional Melissa Comparin, was all about the importance of setting career goals, tips on how to make your resumé stand out from the crowd and interview skills. Two Cayman Airways pilots, Leanni Tibbetts and Brian Seals came next, telling the stories of how they each chose careers in the aviation industry. Keith Whyte, Senior Project Manager with C.U.C told the students all about the range of careers that are available under the heading of ‘Engineer.’ There were several other presentations on careers in interior design, marketing, and architecture, law and medicine. Philip Liu, an education programme coordinator with Tech Cayman spoke about the growing number of careers in new technologies. Marilyn Whittaker, Admissions Director with the International College of the Cayman Islands spoke about the programmes on offer at the college. One of the afternoon sessions featured entrepreneur Bruce Gordon, Executive Director of media company, Zeal, who spoke about media production, and finally Dr. Ben Stading, Assistant Dean of Students from St. Matthew’s University, spoke about careers in veterinary or human medicine and the courses offered at St. Matthews. All of the attendees are part of the Chamber’s Mentoring Cayman programme which pairs high-achieving Year 11 students with mentors from the world of business or the professions, based on their interests and career choices. Since the programme began in partnership with the Government in 2002, it has impacted the lives of more than 800 public and private high school students in our community. All the attendees were enthusiastic about the presentations they had seen: “I believe that this conference that the Chamber of Commerce has set up for us is a very great one,” Said Raldayne Thomas, one of the attendees, “I am interested in being a pilot but I am also interested in media production and graphic designing so I have been really interested in those presentations. I believe that if you have the chance to join the Chamber of Commerce mentoring programme, then you should.” Michala O’ Connor also found the presentations very helpful: “Being at this Chamber of Commerce conference has definitely been a good experience,” she said. “I’m so grateful for this opportunity today. They brought in so many different people to represent the different careers and occupations. For me, I want to become an architect, and they brought an architect in. They told you about the different subjects you would need in school to follow those careers.” Dylan Levy, said: “I enjoyed the medicine presentation because I want to pursue medicine in the future, but I also liked how the person who gave the presentation showed all the different careers in medicine and the careers that I could choose from. The Chamber of Commerce would like to thank all of our sponsors for Mentoring Cayman including The Ministry of Youth, Sports, Culture & Heritage, Aquilae Consulting Group; Cayman Water; Cox Lumber Ltd. Maples Group and Rocky’s Diamond Gallery.
The Chamber Travel Club is holding an information session on this year’s trip to ‘Greece, Land of Gods & Heroes,’ on 7 February, 6.00 p.m. at the Chamber Conference Room. The session, (which will also be accessible via Zoom) will provide information on what to expect from the trip, along with payment and travel details. Come with us on an amazing cultural journey through 5,000 years of Greek history. Explore the country’s archeological treasures. Walk in the footsteps of Socrates on the Acropolis and 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 trip will take place between 12-22 October and will include air and land travel, hotels, meals, day trips and the airfare from Grand Cayman. The price is US$4,595 for Chamber members and US$4,745 for non-members. In previous years, the Chamber Travel Club has visited the Great Wall of China, the pyramids in Egypt, and Machu Picchu in Peru. Don’t miss your chance to experience another amazing country at an affordable price! Download the brochure here to see further details about the trip. Interested persons should complete and submit form and payment to email@example.com
Junior Achievement is expanding into all of Cayman’s high schools in in 2023, says JA Cayman Executive Director, Swan Sandoval. Ms. Sandoval was brought onboard as full time Executive Director in November last year, following the Chamber’s agreement to transfer the program’s operations from Rotary over a two-year phased transition. Junior Achievement is part of a worldwide programme that teaches high school students aged between 15 and 17 the secrets of economic and business success, and it was first introduced to Cayman by Rotary Club in 1991. This year the programme is attracting many more schools and students: “Before, the program operated in about four or five schools. But now we have ten schools, both public and private, including one home schooling group,” Ms. Sandoval explained, “That means that this year, around 300 students are taking part in the program altogether.” So far, Ms. Sandoval has almost found enough volunteers to facilitate the first programme, Economics for Success, which is due to start in February. “Thanks to all the support from the business community, the Chamber of Commerce, Rotary Central, and the schools we have managed to sign up over 20 volunteers to help usher the Economics for Success programme.” “Junior Achievement has been shown to positively impact the social and economic development of the communities where it takes place. But we need help from the business community. Along with volunteers, we urgently seeking sponsors, to be able to provide the resources needed for all the new students who have joined the program this year.” If you are interested in serving a corporate sponsor or JA volunteer you can contact Swan directly at 743-9124 or by email at firstname.lastname@example.org
Meet Swan Sandoval, the newest member of the Chamber team. She was hired in November as the new Programme Director of the Junior Achievement programme in the Cayman Islands. She will assist the JA Board of Directors to relaunch the popular Economics for Success and the Company programmes as well as putting in place a strategic, marketing, fundraising plan for JA. The JA Board had suspended operations for two years due to the pandemic. ‘’We are excited to add Swan to the Chamber team to assist us with reintroducing JA’s youth programmes in our community,’’ said Chamber CEO and JA President Wil Pineau, Cert. Hon., CCE. ‘’JA is an outstanding programme that has impacted more than 30,000 high school students over the years. It is our aim to align our vision with JA Worldwide so we can scale the programmes in our community.’’ Swan was raised in Grand Cayman and participated in the JA Company programme while attending high school. Her professional experience includes working in the operations and cybersecurity fields. She serves as fundraising director for the Rotaract Club of Grand Cayman and is a patron of Caymanian art by Caymanian artists. ‘’Helping youth in our community is my passion. JA is the perfect fit and I look forward to working with the JA Board of Directors to re-introduce JA programmes and to take JA to new heights in our community,’’ she said. If you are interested in serving a corporate sponsor or JA volunteer you can contact Swan directly at 743-9124 or by email at email@example.com To read full article on reintroduction of Junior Achievement: Two-year agreement signed for Junior Achievement transition Chamber restarts Junior Achievement programme
STRONG APPLEBY REPRESENTATION IN 2023 EDITION OF THE HIGHLY RESPECTED PRIVATE CLIENT GLOBAL ELITE DIRECTORY Lawyers from across four of Appleby’s global offices have been recognised in the 2023 edition of the Private Client Global Elite Directory. Cayman Islands partner and Global Head of Private Client and Trusts, Carlos de Serpa Pimentel; Head of Private Client and Trusts in Bermuda, Vanessa Schrum; Head of Dispute Resolution in Guernsey, Anthony Williams; Head of Private Client, Trusts and Family Office in Hong Kong, Richard Grasby; and Bermuda senior associate Caljonah Smith have each been named as ‘Global Elite’ in the highly respected ALM and Law.com directory. In addition, Bermuda partner Hannah Tildesley, Cayman Islands counsel Esmond Brown and Guernsey senior associate Paula Fry were recognised as ‘Rising Leaders’. Launched in 2017, the Private Client Global Elite is a highly respected global directory of the world’s leading private client and trust and estates litigation practitioners. This year’s edition saw more than 6,000 entries, leading to the selection of 250 ‘Global Elites’, 150 ‘Elite Recommends’ and 150 ‘Rising Leaders’. Commenting on the inclusion of eight Appleby lawyers within the directory, Carlos said: “We’re delighted to have such strong Appleby representation in this year’s Private Client Global Elite. It speaks volumes to the ability, size and offering of our global private client and trusts practice which continues to go from strength to strength after another standout year.” Appleby’s Private Client and Trusts team advises on all aspects of trust & estates law, including the establishment, administration, restructuring and termination of private, charitable, and commercial trusts and foundations. The Group’s lawyers are frequently instructed by institutional and independent trustees, family offices, high net worth individuals and other blue-chip institutions.
The Ministry of Youth, Sports, Culture & Heritage (MYSCH) organised an official welcome for FINA Men’s 50M Freestyle World Champion Jordan Crooks today. The 20-year-old from Prospect stepped onto the tarmac at Owen Roberts International Airport (ORIA) this afternoon following a two-day journey from the World Championships in Melbourne, Australia, in time for Christmas. Currently studying Business Supply Chain Management, the University of Tennessee sophomore swam into the history books on Saturday with a time of 20.46 in the 50M Freestyle. Earning a gold medal this a first for the Cayman Islands at the World Championships (for both long course and short course). Joining the Minister for Youth, Sports, Culture & Heritage, Hon. Bernie Bush in this historic welcome was the Hon. Premier G. Wayne Panton, Deputy Governor Hon. Franz Manderson, Deputy Premier Hon. Christopher Saunders, Minister Hon. Sabrina Turner, Parliamentary Secretaries Ms Heather Bodden and Mr. Isaac Rankine and Deputy Speaker Mr. Dwayne Seymour. Other senior government officials, as well as a host of enthusiastic supporters, welcomed Crooks home, many wearing Cayman colours and waving the national flag. The Ministry of Youth, Sports, Culture & Heritage is hosting a public reception in honour of Crooks later this week. The event takes place at Heroes Square on Wednesday, 21 December 2022, 5.30 pm – 7.30 pm and will feature a meet and greet opportunity with the swimming sensation, including an autograph signing session. For more pictures of Crooks’ most recent triumph: visit MYSCH’s Facebook and Instagram pages.
- Chamber launches VoTech Stars programme to attract Caymanians to pursue vocational and technical careers
VoTech Stars is a Chamber of Commerce workforce development programme aimed at attracting more Caymanians to pursue careers in vocational and technical fields. Launched in September 2023, six Caymanians have been selected to be ambassadors to promote their chosen professions. “The Chamber of Commerce is proud to be involved with VoTech Stars. We believe this is an important and unique programme that is going to promote non-traditional pathways for Caymanians of all ages. The programme has successful young Caymanians who are certified and can share their story and remove barriers for their peers” said Chamber President Shomari Scott at the official launch at the National Gallery. The inaugural VoTech Stars ambassadors are Allison Hidalgo who spent ten years in the tourism industry, Antwoine Powell, HVAC apprentice, De-Vante Wright, firefighter, Joshua Smith, heavy equipment operator, Kameron D’Hue, dive instructor and Lakeisha Mason, combination plans analyst. Chamber partners in this new programme include Fosters, Health City Cayman Islands, Inspire Cayman, Cayman Contractors Association and several ministries in the Cayman Islands Government. Present at the launch were Deputy Premier the Hon. Christopher Saunders, MP., Minister of Commerce the Hon. André Ebanks, MP., Minister of Tourism the Hon. Kenneth Bryan, MP, partners, VoTech Stars ambassadors and their families. Each of the ministers and partners praised the initiative and got to meet each of the ambassadors. “Not everyone is the same, and the Chamber believes that the vast spectrum of different talents possessed by our young people should equate with a much wider range of career opportunities. The first step to those opportunities is making young people aware they exist. VoTech Stars will allow other Caymanians to pursue different pathways which will help to diversify careers in the Cayman Islands ecosystem,” Scott said. A nationwide multimedia promotional campaign includes videos, billboards, cinema, radio advertisements and appearances in educational institutions. Each ambassador has recorded a testimonial video discussing the benefits and misconceptions in their field. Billboards can be found at partner locations Fosters Republix, Fosters Airport and Health City Cayman Islands. The Chamber plans to annually announce ambassadors for the VoTech Stars programme to represent vocational and technical careers. To learn more about the programme visit https://www.caymanchamber.ky/votechstars/ or email firstname.lastname@example.org.
On Saturday, 17 December Sun Country airlines launched its weekly service between Minneapolis-St. Paul International Airport (MSP) and Owen Roberts International Airport in Grand Cayman (GCM). The Minnesota Metropolitan Airports Commission joined representatives from Sun Country and the Cayman Islands Department of Tourism at MSP for a gate side celebration before the inaugural flight. The celebration included a ribbon cutting ceremony, and photo opportunities for passengers. The Sun Country plane was greeted upon landing with a ‘shower of affection’ and passengers were treated to a selection of local treats and beverages as well as a steel pan serenade and an appearance by Sir Turtle. Sun Country adds to the destination’s airline seat capacity which has increased by 1,253 seats in the fourth quarter of 2022. Issued by: Cayman Islands Department of Tourism (CIDOT)
Cayman Finance is committed to creating pathways for talented young Caymanians to pursue careers in the Financial Services Industry. The new internship programme, which began in October, saw Michael McLaughlin and Ashanti Mellaneo selected as the first to participate. The purpose of the three-month internship is to create opportunities for Caymanian students or recent graduates interested in Financial Services to work on projects and engage in networking activities alongside the Cayman Finance team, providing valuable insights, experience and contacts. Since October, Michael and Ashanti continued with their university commitments and worked with Cayman Finance, taking full advantage of what this opportunity had to offer. Michael, a third-year student at the University of Manchester, is studying Law and Politics. He is currently in the last stages of his education and legal training in becoming a Qualified Solicitor for Maples Group (Cayman Islands). “This internship allowed me to develop a stronger network and practical understanding of the Cayman Islands Financial Industry during my final year at Law school abroad.”, said Michael. “My experience has been invaluable, and I’m grateful to Cayman Finance for granting me the honour to serve as a part of their team. A highlight for me was being able to work on the recent Cayman Finance Breakfast meeting in London.” Ashanti, studying for her accounting degree at UCCI, echoed Michael’s sentiments, stating she gained a wider knowledge of the Financial Services Industry and the role it plays in Cayman’s continued success; “I am so grateful to have been given the opportunity to work with such an amazing group of individuals.” Ashanti said. “My time at Cayman Finance has allowed me to grow, as well as open my mind to what the Cayman Islands Financial Services Industry is doing for our beautiful islands – something I now believe every Caymanian would benefit and appreciate knowing about.” Cayman Finance CEO, Steve McIntosh, commented on Michael and Ashanti’s tenure during the program, saying he knows the future is bright for Financial Services in Cayman based on the quality of local talent pursuing careers in the industry. “It has been a real pleasure getting to know Michael and Ashanti during their internships. They are both extremely hard working, conscientious and eager to learn.” said McIntosh. “I can already see they have bright futures in our Financial Services Industry! It’s inspiring to see the high calibre of our up-and-coming Caymanian talent and to have Michael and Ashanti in the Cayman Finance alumni community.” We look forward to welcoming more interns in the new year. Those interested in the next round can apply through our social media channels beginning Tuesday, December 20th, 2022.