This includes sessions from the conference: AICPA Dealership Conference 2020
Sessions Included:
Welcome Remarks and Fireside Chat with Don Flow and Jason Stein (Oct 22, 2020 10:00 AM)
Post-Pandemic Economic Prospects (Oct 22, 2020 11:05 AM)
Assessing Fraud and Key Controls at Your Dealership in a Pandemic (Oct 22, 2020 01:30 PM)
DMS / IT Networks – Key Aspects of this Fast-changing World that You Need to Know (Oct 22, 2020 02:50 PM)
CFO Panel - Ask the Experts! (Oct 22, 2020 02:50 PM)
New Realities of Today's Used Car Business and Methods to Maximize Net Profits (Oct 22, 2020 12:25 PM)
Legal Issues for Dealers Emerging from the Pandemic (Oct 23, 2020 11:20 AM)
Insurance, Workers Comp and Cost Savings (Oct 23, 2020 01:40 PM)
Tax Update: What we have learned from COVID-19 Inspired Legislation (Oct 22, 2020 02:50 PM)
The Annual Physical Inventory - Not Just Because (Oct 23, 2020 12:25 PM)
A&A Update (Oct 23, 2020 12:25 PM)
Presidential Election Outcomes: Effects on Taxes (Oct 22, 2020 09:00 AM)
Estate and Succession Planning for Dealers (Oct 22, 2020 01:30 PM)
State of the Industry (Oct 23, 2020 10:05 AM)
Identification: AUT20ER01
Individuals and businesses have been negatively impacted by the health and economic effects of the COVID-19 pandemic. The outcome of this November’s election will determine how we move forward. The Presidential candidates have each put forward a variety of tax proposals. The panel will discuss these proposals and how the outcome of the congressional and Presidential elections affects the likelihood of these proposals becoming law.
Learning objectives:
Identification: AUT2001
Join us as Jason Stein, Publisher of Automotive News, conducts a “fireside chat” with Don Flow, Chairman and CEO of Flow Automotive Companies where the two will discuss success stories, best practices, and the obvious operational challenges during the recent pandemic. The session will cover:
Identification: AUT2002
The economy continues to recover from the deepest recession in the post-war period. The reopening phase generated stellar growth rates from locked-down levels, fueled by massive amounts of fiscal and monetary policy stimulus. However, although still strong, growth rates are starting to ebb in a swoosh-like fashion, as business and consumer confidence remain vulnerable to virus’ vagaries. Meanwhile, additional fiscal policy support is proving harder to come by as the election approaches. The economy’s complete recuperation from the pandemic could take a long time. This session will address these issues.
Identification: AUT2003
Used vehicle net profits have diminished in recent years, even as sales volumes have increased for dealers. This trend finds many dealers achieving record-setting sales volumes while losing money in their used vehicle departments. This session offers a data-rich dive into the factors that have caused net profits to decline and reveals new metrics dealers can use to right-size their inventory investment to retail demand, identify each vehicle’s unique investment value and align their used vehicle acquisition, pricing and reconditioning decisions to maximize each vehicle’s optimal return on investment. The session will deliver take-home strategies that help dealers increase sales volumes without sacrificing net profit.
Identification: AUT2004
In this session the speaker, Torre Hammer, will:
1. Look at the increased risk of fraud due to the pandemic, employees working remotely and the changing business environment.
2. Discuss key controls and exception reporting CFOs can implement to address fraud risk and improve operations.
Identification: AUT2005
This session will discuss current planning strategies with respect to family succession, outside sales, estate and income taxes, as well as a discussion of some of the pitfalls of traditional succession structures.
Identification: AUT2007
CFOs from Mega Dealer Groups will be ready to answer your questions. Topics to be discussed include:
1. COVID-19 operational changes,
2. PPP loans planned approach,
3. Pay plan ideas in changing world, people and development,
4. Building dealers trust,
5. 2020 expense savings ideas implemented,
6. CFO role and 2021 and beyond key initiatives.
Identification: AUT2008
Tax Update: What we have learned from COVID-19 Inspired Legislation
(CARES Act, FFCRA, Payroll Tax Deferral, PPP, and more)
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) and the Families First Corona Virus Response Act included a number of provisions that impact dealerships and their owners. Some of these impacts were felt immediately and others will have a delayed effect to be considered during planning for 2020 tax compliance. We will cover the following topics:
Identification: AUT2009
Speakers Sally Lopez and Tom Olney, Partners of OWL Automotive Consulting, LLC, will discuss:
Identification: AUT2013
My very first speech as the 2020 NADA Chairman dealt with the corruption, obstruction and disruption to the auto retail industry. The COVID-19 pandemic might be described as destruction but we are facing the challenges together as we learn to operate in a new business environment.