Thumbnail for AICPA Dealership Conference 2020

AICPA Dealership Conference 2020



The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association’s website, educational materials, products, and services. The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association’s Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately. 

Packages Display Packages

  • Thumbnail for Presidential Election Outcomes: Effects on Taxes
    Identification
    AUT20ER01
    Date
    October 22, 2020

    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:

    • Evaluate each candidate’s tax proposals
    • Analyze whether action is needed to prepare for the outcome of the election

    Speakers

    Speaker Image for Peter Judge
    Government Relations Leader, Crowe LLP
    Speaker Image for Amy Miller
    Senior Manager, AICPA
    $4900
    Standard Price
  • Thumbnail for Welcome Remarks and Fireside Chat with Don Flow and Jason Stein
    Identification
    AUT2001
    Date
    October 22, 2020

    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:

    • Best practices and lessons learned from the leader of a large automotive group
    • Managing through a pandemic, including digital retailing, HR, operational challenges
    • How to emerge strong following the pandemic

    Speakers

    Speaker Image for Jason Stein
    CEO, Flat Six Media
    Speaker Image for Donald Flow
    CEO, Flow Automotive
    $4900
    Standard Price
  • Thumbnail for Post-Pandemic Economic Prospects
    Identification
    AUT2002
    Date
    October 22, 2020

    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. 

    Speaker

    Speaker Image for Michael Gregory
    Deputy Chief Economist & Head of U.S. Economics, BMO
    $4900
    Standard Price
  • Thumbnail for New Realities of Today's Used Car Business and Methods to Maximize Net Profits
    Identification
    AUT2003
    Date
    October 22, 2020

    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.

    Objectives

    • Recognize the shorter retail shelf life of most used vehicles
    • Base critical used vehicle management decisions on each vehicle’s investment value
    • Create an investment management strategy to drive sales and net profit improvement

    Speaker

    Speaker Image for Dale Pollak
    Founder/Executive VP, vAuto/Cox Automotive
    $4900
    Standard Price
  • Thumbnail for Assessing Fraud and Key Controls at Your Dealership in a Pandemic
    Identification
    AUT2004
    Date
    October 22, 2020

    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.

    Speaker

    Speaker Image for Torre Hammer
    Partner, Moss Adams
    $4900
    Standard Price
  • Thumbnail for Estate and Succession Planning for Dealers
    Identification
    AUT2005
    Date
    October 22, 2020

    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.

    Objectives

    • Strategies addressing family issues which often impeded succession
    • Participants will become more aware of viable exit strategies and family or management transaction alternatives

    Speakers

    Speaker Image for Sid Tobiason
    Partner, Moss Adams LLP
    Speaker Image for Hugh Roberts
    Partner, The Rawls Group
    $4900
    Standard Price
  • Thumbnail for CFO Panel - Ask the Experts!
    Identification
    AUT2007
    Date
    October 22, 2020

    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.

    Speakers

    Speaker Image for James Robinson
    James Robinson, CPA, CGMA
    CFO, Pohanka Automotive Group
    Speaker Image for Greg Althardt
    CFO, Peach State Trucks
    Speaker Image for Shelly Jackley
    CFO, Wilson Automotive
    Speaker Image for Scott Strothkamp
    Partner, Wolff & Taylor, PC
    $4900
    Standard Price
  • Thumbnail for Tax Update: What we have learned from COVID-19 Inspired Legislation
    Identification
    AUT2008
    Date
    October 22, 2020

    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:

    • Paycheck Protection Program
    • FFCRA Employer Tax Credits
    • Employee Retention Credit
    • Employer Payroll Tax Deferral
    • Technical Correction to QIP
    • NOL Carryback Period Expansion
    • Increase in 163(j) limitation
    • Changes to Business Loss Limitation
    • Charitable Contribution Deduction Changes for 2020

    Speaker

    Speaker Image for Kevin Gilbreath
    Tax Partner, Crowe LLP
    $4900
    Standard Price
  • Thumbnail for DMS / IT Networks – Key Aspects of this Fast-changing World that You Need to Know
    Identification
    AUT2009
    Date
    October 22, 2020

    Speakers Sally Lopez and Tom Olney, Partners of OWL Automotive Consulting, LLC, will discuss:

    • DMS – Are you getting full utilization and efficiencies out of your existing system?
      1. How do you know if you are?
      2. Training on your DMS – new employees and existing employees
      3. How to get more training out of your DMS provider
    • DMS – What every dealership should do before the end of their contract?
      1. System utilization review
      2. Timing of review
      3. Proper shopping / comparison to other systems
      4. Phantom barriers to changing DMS providers
    • Data / Network Security – You THINK you are safe and secure? Do you KNOW that you are?
      1. You are financial professionals, not IT Engineers who have firsthand knowledge
        1. Are you safe, just because your IT Director says you are safe?
      2. Steps to positively verify the condition of your IT Network

    Objectives

    • Learn the proactive steps necessary to get full value for your DMS system and contract
    • How to identify if your organization has potential weaknesses that could lead to system intrusions and ransomware

    Speakers

    Speaker Image for Sally Lopez
    Owner | Partner, OWL Automotive Consulting, LLC
    Speaker Image for Thomas Olney
    Partner, OWL Automotive Consulting, LLC
    $4900
    Standard Price
  • Thumbnail for State of the Industry
    Identification
    AUT2013
    Date
    October 23, 2020

    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.

    Objectives

    • Business challenges bring opportunities and adapting to change leads to advancements in the auto industry
    • Educate ourselves and learn new best business practices for an ever changing environment
    • We are united as One NADA, a bulletproof band of brothers and sisters. Stay positive because together, We've Got This

    Speaker

    Speaker Image for Rhett Ricart
    2020 NADA Chairman, Ricart Automotive Group
    $4900
    Standard Price
  • Thumbnail for Legal Issues for Dealers Emerging from the Pandemic
    Identification
    AUT2014
    Date
    October 23, 2020

    Dealers have shown their resiliency as they developed strategies to survive, and even thrive during, the pandemic.  Dealer operations during these difficult times have highlighted critical legal issues  as the pandemic (hopefully) winds down, and dealers return to "normal" times with operations informed by the lessons learned from the pandemic.  The session will cover:

    • Relationships with franchisors
    •  Attention to supplier agreements, particularly indirect finance and lease providers
    • Digital issues, particularly data protection
    • Reducing legal risk 
    • Strategies for improving personnel policies

    Objectives

    • An audience member will identify legal issues important to a client's business in moving beyond the pandemic
    • An audience member will learn specific strategies and policies to which attention must be given in dealing with critical legal issues
    • An audience member will learn specific steps that can be taken to assist clients in developing protections in dealing with franchisors and suppliers and reducing risk of losses from legal actions

    Speaker

    Speaker Image for Michael Charapp
    Managing Partner, Charapp & Weiss
    $4900
    Standard Price
  • Thumbnail for A&A Update
    Identification
    AUT2015
    Date
    October 23, 2020

    The Accounting and Assurance (A&A) Update will cover recently issued accounting, reporting and auditing standards and other guidance that may affect your business. We will provide general information on happenings from FASB and AICPA. This session will touch on COVID-19 accounting considerations as well.

    Objectives

    • Identify items to be considered from the impact of COVID-19, specifically accounting options related to debt forgiveness under the CARES Act/PPP loans, impairment of assets and revenue recognition.
    • Outline the new effective dates of the lease standard and other standards that are currently delayed by the FASB.
    • Identify key accounting issues that are typically encountered in the automotive industry.

    Speakers

    Speaker Image for Daniel Sanders
    Partner, DHG
    Speaker Image for John Seymour
    John Seymour, CPA, CISA
    Partner, DHG
    $4900
    Standard Price
  • Thumbnail for The Annual Physical Inventory - Not Just Because
    Identification
    AUT2017
    Date
    October 23, 2020

    The annual physical parts inventory is typically viewed as an accounting exercise – an opportunity to “true up the books to the physical.” The count is performed and adjusted and then the physical value is reconciled to the GL. The conversation around a “good” or “bad” entry is had, some wringing of hands if it was a “bad” entry is done and then life goes one. However, the physical inventory and the following reconciliation is an excellent opportunity to identify profit and cash drains on the business.

    Every owner wants more parts gross profit. This occurs by selling more pieces or selling pieces for more dollars (or both.) Selling more is not just a marketing function – in fact, having the right part in the right quantity in the right place at the right price at the right time (also call first-time fill-rate from inventory) is the biggest reason that sales increase. Having more of what is needed when it is needed at the right price will increase sales. People are willing to pay a reasonable amount more if you “always have what they need.” Gross profit is driven by first-time fill-rate from inventory.

    In addition, reducing the write off at the time of inventory (a reserve for obsolescence, throwing old parts away, shortages, etc.) will drive gross profit up. If you do not have to write it off, gross profit does not go down. Also, if you manage the excess and obsolescence well, cash is not tied up in inventory.

    The annual parts physical inventory is the perfect opportunity to stop, investigate, ask questions and identify reasons that the physical parts inventory, as well as the general ledger parts inventory, does not work as well as it should. This workshop will investigate causes of inventory quality, depth, breadth, and accounting accuracy. The participant will learn the questions to ask and where to investigate to turn the annual inventory from “the CPA says I have to do it” to an event that is high value and impact.

    Objectives

    • Identify the questions to ask that cause poor physical inventory performance
    • Identify the questions to ask that can lead to physical inventory to general ledger variances.
    • Identify the activities that can improve overall parts inventory accuracy and performance

    Speaker

    Speaker Image for Keith Ely
    Managing Partner, KEA Advisors
    $4900
    Standard Price
  • Thumbnail for Insurance, Workers Comp and Cost Savings
    Identification
    AUT2018
    Date
    October 23, 2020

    Speaker, Anthony Sardis will discuss the insurance market post-COVID and cost-savings opportunities.

    Objectives

    • Understand the Impact of Covid on Insurance Pricing
    • Learn about Methods to Manage Risk using Alternative Structures

    Speakers

    Speaker Image for Anthony Sardis
    Practice Leader, Withum
    Speaker Image for Don Frank
    Underwriting Consultant - Automotive Practice, AJ Gallagher
    $4900
    Standard Price

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