Auto Dealership Conference 2018

As dealerships continue to expand, the logistical and operational complexities of handling processes such as accounts payable, accounts receivable, cash flow, billing and payroll can become cumbersome and costly. More and more multi-store dealers are transitioning away from location-specific accounting functions in favor of a centralized service model.

• 1. Part one of this session will address the benefits that a centralized accounting model can offer, including: improved efficiency and accuracy in reporting, strengthened internal controls, appeal to potential buyers in a dealership sale and more. 
• 2. Part two will cover F&I process, breaking down of deals, compliance, titling, accounts receivable and cash, accounts payable, warranty and rebate receivables. 
• 3. The session will be capped with a discussion on additional general items that dealers should keep in mind on an ongoing basis surrounding a consolidated accounting center.

Dealers continue to face threats to their security, profitability and efficiency. IT concerns and issues at the Dealership have typically fallen on the financial leadership to resolve. Join dealership technology guru Erik Nachbahr for an update on the state of IT in the automotive space and opportunities to drive improvement.

There are many tax changes effecting dealerships and related industries, including those under the Tax Reform Act. The business model of a dealership lends itself to unique tax issues. This session aims to create an understanding of the tax history of the industry that is still relevant today and discuss its future under our current climate.

Participants will be able to: 

• 1. Review and discuss the applicable tax issues of the dealer industry. 
• 2. Identify key aspects of tax reform and their impact on industry. 
• 3. Understand the variety of accounting method available to dealers and their application.

This interactive session built on the famous and fabulous Jeopardy game show will present an overview of topical compliance issues facing automotive dealerships in 2018. Three audience volunteers will battle for the title "Compliance Cop".

• 1. Understand the elements of a Compliance Management System, a requirement of the Consumer Financial Protection Bureau of the businesses it regulates. 
• 2. Review the compliance requirements automotive dealerships face in today's environment, the risks of non-compliance, and best practices for process improvement.

This session is designed to those new to the industry — either within a CPA firm or newly hired into a dealership management position.

This session will: 

• 1. Provide an overview of the dealership businesses, the lingo used and some of the common nuances in dealership accounting. 
• 2. Provide an overview of the common dealership businesses Provide some of the terms used in a dealership Outline the accounting treatment for certain items unique to dealerships

This session offers solutions to some of the pressing DMS needs that you have, including functionality on reporting, multi-company abilities, and more. These providers will also offer highlights on emerging trends and capabilities to help your dealerships. This session is sponsored by three leading DMS providers.

Sponsored by: Reynolds, Auto/Mate and Dominion

Some learning objectives to include: 

• 1. Reporting
  * Daily gross logs for new and used departments
  * Comparison of daily gross logs to general ledger
  * Expense account reporting by department
  * Flexibility of DOC’s and other reporting, especially multi-company 
• 2. Entry
  * Ease of accounting entry for various journals
  * Adjusting entries
  * Recurring entries
  * Intercompany functionality

This session will give an overview of who is buying in today’s buy/sell market and why, including a discussion of new investors in auto retail. Erin Kerrigan will also review why more sellers are coming to market today and the impact of rising seller volume on today’s blue sky values and multiples. Finally, she will review the importance of dealership real estate to most transactions and the effects of image facilities on blue sky value.

Learning Objectives: 

• 1. An overview of the buyer landscape and how it is changing 
• 2. Industry trends that are driving more sellers to market 
• 3. Drivers of today’s blue sky values 
• 4. The impact of dealership real estate and image requirements

Fast isn’t good if the numbers are wrong. The key to a good close is preparation and cooperation from sales. Having the schedules clean and doing daily bank recs can eliminate those chores from the month end. This session will discuss the importance of getting deals to the office on the 1st day of the month and provide helpful hints to make monthly entries during the month to lighten the amount of closing entries.

After this session you will:

1. Have a clearer understanding of the close out process and steps taken in preparation.
2. Identify roadblocks in their dealership to an effective close out.
3. Know how to engage the entire dealership in expediting the month-end close.

During this session we will cover recent fraud examples encountered at dealerships. We will address how the fraud schemes were discovered, what investigation steps occurred, and how each fraud may have been prevented. As a result of participating in this session, you should be able to define the current fraud risks present within dealerships, assess the fraud investigation process, and identify what controls may need to be implemented to prevent or detect the latest fraud schemes.

As a result of participating in this session, you should be able to: 

• 1. Define the current fraud risks present within dealerships
• 2. Assess the fraud investigation process
• 3. Identify what controls may need to be implemented to prevent or detect the latest fraud schemes.

Ever curious on what blockchain is? Want to learn to screen for use cases which may be a good fit for blockchain? Want to cut through the hype and see the reality?

• 1. We will discuss these questions and we will also do a walkthrough of some interesting blockchain projects and ideas for your industry. 
• 2. We will close out the discussion by showcasing Microsoft’s Workbench tool and give you a glimpse into the 5 steps to help you convert your paper napkin idea to working blockchain project – and in 7 days or less!

During this session you will learn:

• 1. How to use industry benchmarks in conjunction with your statement to run a more profitable dealership 
• 2. How to identify profit opportunities throughout all departments. assessing processes to help create change to attain industry benchmarks

Join this interactive session with CFOs and top dealership experts to discuss common industry issues that plague dealerships across the country.

Learning Objectives: 

• 1. Learn about what keeps them up at night 
• 2. Hear about strategies to tackle the top dilemmas, including accounting, HR, IT and more

This interactive session will explain some of the most confounding generational differences and effective ways to harness those differences to create a strong and talented workforce for the future.

• 1. Understand generational differences 
• 2. Harness the unique aspects of the millennial generation to create a strong and talented workforce of the future.

The session will cover best practices in a dealership setting to hiring good employees and to terminate poor performers in such a way that minimizes legal exposure.

• To develop a solid hiring process that is followed in every instance. 
• To design a plan to inform new hires of expectations. 
• To evaluate and address problem behavior or subpar performance. 
• To establish a constructive discipline program. 
• To provide advice on the best ways to terminate a problem employee or poor performer.

This session will focus on accounting and audit standards impacting dealerships.

Learning Objectives: 

• 1. Understand and implement US GAAP in a retail dealership environment 
• 2. Apply proper auditing standards in the course of auditing retail dealerships 
• 3. Be aware of pending or upcoming accounting standards (US GAAP)