Auto Focus
Showing 177–192 of 231 results
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How to create an honest budget
Summer 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Analysts can conjecture how U.S. new- and used-car markets will perform in 2012, but no one knows for sure — particularly in local markets. So, with the future uncertain, the somewhat daunting challenge is to create a realistic annual budget that’s based on fact, not optimism. This article describes the steps involved.
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Can you expense your repairs? Your answer might be at odds with the IRS
Summer 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 1067
Abstract: When fixed assets are repaired, how should this be accounted for? Most business owners prefer to expense repairs and maintenance in the current period, because it saves taxes and simplifies the accounting. But the IRS has another, more complicated plan for these costs: capitalizing them. This article explores the tax implications of this approach, and shows what kinds of repairs can still be expensed. A sidebar lists the factors that the Tax Court considers in determining whether a repair should be classified as a capital improvement or an expense.
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Japan earthquake aftershock – Weathering inventory challenges
Summer 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 684
Abstract: Both import and domestic dealerships are suffering an inventory crunch following Japan’s March 11 earthquake, tsunami and subsequent nuclear crisis. The disaster highlights the downside to just-in-time inventory practices, but this article offers some proactive ways to combat a summertime drought in the automotive supply chain.
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What makes Gen Y tick?
Spring 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 365
Abstract: Dealers who understand Generation Y and customize their marketing and sales strategies stand to profit. This brief article examines not only the kinds of cars Gen Yers want, but also the most effective ways to market to them.
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Staffing levels – Sizing up your sales team
Spring 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 634
Abstract: NADA predicts double-digit percentage gains for new vehicle sales in the United States in 2011. But it’s important that dealerships be prepared to handle the 11% or more additional business that is expected to walk through their doors or make online inquiries. This article offers tips to help determine the appropriate size of staff, taking into account vacations or other absences and the inevitable peaks and valleys of floor traffic.
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Get control of internal controls
Spring 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 632
Abstract: Internal controls are the policies and procedures dealers employ to protect assets, improve operating efficiency and ensure reliable financial reporting. They also are their first line of defense against theft and fraud — but only if the dealer doesn’t have a “not-in-my-backyard” attitude. This article explains how internal controls can protect inventory, customer lists and cash.
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Estate planning: How to make use of today’s window of opportunity
Spring 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 1104
Abstract: For an auto dealer, estate planning is especially complicated, because it needs to be tied closely to both succession planning for the dealership and retirement planning for the dealer. Still, minimizing estate tax is an important objective. The good news is that recent tax law creates a significant but short-term window of opportunity to transfer a substantial portion of one’s estate to loved ones without incurring gift or estate taxes. This article shows how to maximize one’s gift tax exemption — or pursue other strategies as an alternative to outright gifts. A sidebar takes a closer look at one of these alternatives: the family limited partnership.
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CRM software – Cultivating customer relationships
Winter 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: Customer relationship management (CRM) software can help dealers improve sales closing ratios and build long-term customer relationships. But to maximize their return on this tool, they need to get all employees on board. This article shows how a properly implemented CRM system can dramatically improve sales, lower marketing costs and build customer loyalty.
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How to win over lenders
Winter 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 672
Abstract: With lenders still clutching their pocketbooks tightly these days, what can dealers do to loosen them up? This article discusses strengthening one’s balance sheet, days-in-inventory ratio, and income statement; preparing to meet with a lender; and fostering a long-term relationship with the lender.
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The best defense is a good offense – Internal controls can thwart employee fraud
Winter 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 645
Abstract: An auto dealership that puts strong internal controls in place — and tests them frequently — will likely discourage anyone in the store who’s considering theft and thwart or catch those who are more daring. This article stresses the importance of segregating duties and limiting access to cash and inventory, while offering additional tips for discouraging theft or dishonesty at all levels.
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On your mark, get set, go – 5 ways to prepare for market recovery
Winter 2011
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 864
Abstract: New vehicle sales figures for the last half of 2010 show signs of recovery. And many analysts predict more good news ahead. This article lists five things dealers can do to be ready for an uptick in 2011, including fostering a team environment and catering to the customer. A sidebar cautions, however, that a large percentage increase in sales growth might not be as impressive as it appears.
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Postrecession move – Determining your dealership’s value
Fall 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 738
Abstract: Stock prices and real estate values have plummeted over the last three years. What about the value of an auto dealership? Knowing this is especially important for those thinking about selling the business or getting ready to pass ownership to children. This article shows how appraisers value both hard assets and goodwill, and the wide range of valuation multiples and cap rates they use for auto dealerships.
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Report cards for dealerships
Fall 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 832
Abstract: Many principles commonly applied to manufacturers — such as financial “report cards” and continuous improvement — also apply to dealers. This article describes metrics that proactive owners watch to stay ahead of the competition: return on assets, the customer service index, and productivity. A sidebar explains how a CPA gains intimate knowledge of how a dealership runs — and can use that knowledge to help the dealer make more money.
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5 tips for managing inventory
Fall 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: Now, while business may be on a plateau as the industry recovers, it’s more important than ever for dealers to keep their eyes firmly planted on inventory. This article offers five tips to help a dealership keep its supply at a realistic level, including evaluating its Web site and determining whether the best inventory data is being obtained and properly assessed.
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Are you a tortoise or a hare? Slow and steady e-responses don’t win every race
Fall 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 464
Abstract: Most customers begin the vehicle selection process online, so dealers who implement an effective e-response plan have a leg up on the competition. This article shows the importance of prompt response and the necessity for keeping tabs on competitors’ Web sites.
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Go green, create some green – 7 ways to help the environment and your bottom line
Summer 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 379
Abstract: Adopting sustainable business practices isn’t only the right thing to do — it also makes financial sense. Dealers can reduce their operating costs with simple facility upgrades and everyday changes. This article offers seven ways to do just that, including putting blinds on westward-facing windows, getting an energy audit, and checking with the manufacturer for initiatives it may be offering.