This includes sessions from the conference: 2021 AICPA & CIMA Dealership Conference
Covid-19 isn’t the only thing that has caused great change over the last year. So to has the explosion in cybercrime. Today, there is a new ransomware victim every 10 seconds! According to the Harvard Business Review, the frequency of ransomware attacks have increased 150% and the cost of falling victim to a ransomware attack has increased 300%. There is no question that the frequency and severity of cybercrime are both increasing at a very alarming rate.
In this presentation, Erik Nachbahr will discuss how cybercrime is forcing a change in the cyber defenses and related technologies that dealerships need to employ to keep their data, finances and reputation safe. Additionally, Erik will discuss how the evolving cybersecurity threat is impacting the cyber insurance market and leading to some new cyber-related legislation that dealers need to know about.
Covid-19 has had a major impact on auto dealerships, and everyone is looking to improve cash flow. Many dealers are propping up the bottom line by decreasing their real estate tax burden. This session will explore a variety of tax savings strategies that fully leverage current legislation. Cost segregation, bonus depreciation, Section 179 expensing, and several other strategies will be reviewed, with a focus on the interplay between strategies. Several real-life examples will be presented to indicate the scope of potential savings.Speaker(s):
There have been significant changes in the Finance and Accounting profession with the ongoing transformation which have only accelerated since the pandemic. This session will provide you an update on the profession generally and will address more specifically how remote work has impacted ways of working of the CFOs office and the Auditor.Speaker(s):
In this session we will discuss the history of DEI and discuss the business case for diversity in the automobile industry, from increasing market share in auto sales, what brands do better than others and why.Speaker(s):
Tekion’s Automotive Retail Cloud (ARC) is the industry’s first and fastest end-to-end cloud-native platform. ARC includes all functionalities of a DMS and accompanying tech stack to run a seamless retail business. Learn how cloud technology, real-time data, Advanced Analytics and much more can bring higher operational efficiencies to your Accounting department.Speaker(s):
This course provides a practical overview of the most important issues facing most companies and their accountants. The focus is on explaining the basis behind major issues and trends in plain language, enabling professionals to understand the most important aspects of relevant standards and why any planned or potential changes are coming down the pike.Speaker(s):
CFOs from Mega Dealer Groups will be ready to answer your questions. Topics to be discussed include:
Clients have never been better informed or had higher expectations. During the pandemic dealers implemented Digital Retailing systems in response. But most dealers continue to spend money on advertising which is not attributable, accountable or effective at a time when wasting money is now optional. So while the digital; age has modernized the industry, not every dealer is ready to fully realize the benefits. Jay Abraham has revolutionized marketing in over 1,000 industries and for over 10,000 clients. Now he is working with automotive powerhouse Brian Benstock of Paragon Honda. Together they have dove into dealership existing marketing practices with a unique perspective and approach applying Jay’s proven strategies. This has transformed Paragon into a superior digital marketplace allowing the them to reach every client with a consistent and proven approach - wherever and whenever they want. Paragon has been able to build a robust client database who are now buying and servicing their cars 24/7 while realizing exponential growth in their results. This presentation will reveal the secrets to achieving a massive improvement in marketing effectiveness and efficiencies while driving exponential growth in your results.Speaker(s):
PartsRec by Total Dealer Solutions is an automated entry to entry reconciliation software program that allows automotive dealers to seamlessly reconcile Parts Inventory to Accounting on a daily basis helping to reduce variance to zero. Daily insight helps users to immediately pinpoint problems, correct errors, identify process improvements, and most importantly avoid large variances at month and year-end.Speaker(s):
With the ongoing issues of the pandemic, regional weather disruptions, and a shortage of employees and vehicles, 2021 was undoubtedly a challenge. However, throughout the year, the best controllers found ways to improve the efficiency of the office. This session will highlight those ways that you can boost productivity and accuracy in your dealership.Speaker(s):