This includes sessions from the conference: 2022 AICPA & CIMA Dealership Conference
The pace of mergers and acquisitions in the auto retail space continues to accelerate with no signs of slowing. CPAs whose clients buy and sell dealerships know reinsurance and profit participation are critical components of accurate valuation and post-transaction planning. Join experts Alan Pouyat and Rob Walker for a comprehensive checklist of considerations and a detailed sample GAAP valuation.
The FTC has updated the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA). This update requires dealerships to strengthen their cyber defenses to better protect
Will review how digital payments is evolving into today's FINTECH space and how this will impact the franchise automotive dealer. Case study on title/tag/deal digital reimbursement automation -- dealer group eliminating 100,000+ annual checks saving over $500K in annual expenses -- escheatment compliant! AP Automation -- learn how to earn to streamline processes and earn rebates. Fully automated Treasury management and enterprise cash reconciliation.
The pandemic served as a catalyst for a permanent redefinition of work as we know it. Given the changes made in March of 2020 across the auto industry, many workers realized that work doesn’t have to interfere with their personal lives. And on top of that, the steady rise in gig economy work has made it so workers truly can choose their own schedules and define what flexibility means for them. So as an employer looking to hire, this means that on top of competing with other dealerships or other businesses in the area, you’re competing with people’s ability to work for themselves. In this session, Adam Robinson, CEO of Hireology will dig into exactly what people expect from work and how you can redesign your jobs and adjust your hiring processes accordingly.
Join us as Matt Bowers, President & Chairman of Matt Bowers Automotive Group, discusses success stories, best practices, and the operational challenges during the recent pandemic.
No more spot checking invoices at random, manually comparing invoices to packing slips, or a hectic month end or annual physical trying to figure out issues. PartsRec makes your life easier by giving you the tools to automate this process, saving you time, ensuring the accuracy of your inventory, and reducing your risk, because with PartsRec you can track your variance down to the part down to the penny.
In this session we will explore developments in state and local tax including state tax nexus and apportionment. We will also review the new state pass-through entity tax elections, as well as discuss sales tax and residency considerations.
As dealerships continue to expand, the complexities of handling processes such as accounts payable, accounts receivable, cash flow, billing and payroll can become challenging and costly. More multi-store dealers are transitioning away from location-specific accounting functions in favor of a centralized service model.
In this session, we'll overview several key tax issues impacting the dealer industry for upcoming tax filings, changes to Sec. 163(j) interest limitation calculations, business meals, and bonus depreciation. The session will also share updates on current legislation impacting potential LIFO recapture relief for dealers.
NCM Associates originated the automotive 20 Group peer collaboration model in 1947 and its effectiveness has been proven time and again over the years. The concept is smart and simple: using Benchmark data [https://www.ncmassociates.com/...] as the foundation, we bring together similar, non-competing business owners from a broad cross-section of the country to exchange best practices, experiences, ideas, and strategies. This session will discuss both benchmarking and the importance of accurate departmental reporting within the automotive industry.
Unify payments across all channels, on one platform. Learn how to eliminate manual payment entry to reduce errors and enable seamless reporting automation.
Explanation and discussion of newly issued accounting pronouncements, with particular focus on those of greater impact to dealerships. Focus on auditing standards that are relevant to those working with retail dealerships, including consideration of matters critical to both audit and review engagements. These matters will also be discussed from the viewpoint of the dealership, ensuring those not in public practice can utilize the sessions materials to enhance their internal financial reporting and better interact with the public accountants they work with.
This Q&A panel format will cover issues that CFO's in automotive are focused on today. What keeps them up at night, where do they see profit potential in the challenges, and how are they planning for the numerous disruptions in the industry.
For more than 100 years, there has been speculation that the auto retail industry would change, and dealers would suffer from the myriad of threats. Dealers have always shown they are highly resilient and the change to the auto retail industry happening today is testing that resiliency once again. They have experienced record profits yet there are growing threats on the horizon. Consolidators have built massive market share, new entrants continue to emerge, OEMs forcing “The Agency Model” and EVs. These threats combined with high valuations have dealers exiting the business completely. The future of automotive retail is reliant on dealers who want to grow and compete over the long term. This requires building a world-class organization and incorporating operational and organizational best practices. Session attendees will gain insights into where dealers can invest the right capital and time to maximize the value of their business to compete long-term.
Modernize your operations with true cloud technology. In this session, we will explore the complexities of doing business in today’s environment and how increasing accessibility and visibility to the entire organization will help you improve efficiencies and performance.
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