- With gross profits on new automobile sales declining for the first time in five years, many dealerships are looking for ways to recapture some of these lost profits. The service department is one of the first places to look. The technological sophistication of today’s new vehicles gives dealerships an added advantage in the service area, since many independent mechanics lack the skills or diagnostic equipment to work on them. But the department must run smoothly. This article offers seven ways to boost service department efficiency and profits.
- Dealers who have a strong internal control system in place might sleep more soundly. A strong system begins with detailed and accurate financial information and a systematic means of frequently monitoring such data. This article offers a number of tips to help dealers achieve this and nip fraud in the bud.
- This article discusses new guidance that allows private dealerships following Generally Accepted Accounting Principles (GAAP) to elect not to consolidate the financial reporting from variable interest entities that lease property to them. It also notes two new taxes under the Affordable Care Act that affect high earners, and a prediction that worldwide new vehicle sales will stop increasing sometime within the next decade.
- At the Academy of Dental CPAs (ADCPA) bi-annual meeting members gathered to discuss visions from all sectors of the industry including: practicing dentists, insurance providers, equipment representatives, and practice management consultants. The opportunities as well as the challenges to the dental profession are numerous, which raises the question, “Are you prepared for what lies ahead?”
- Due to increased concerns about potential widespread violations of the federal securities laws by municipal issuers and underwriters the SEC has undertaken a new initiative to identify and clean up false certifications.
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