AFC
Auto Focus
Showing 1–16 of 223 results
-
Why you should encourage online prequalification
Summer 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: Many car buyers today want to start the financing process online before they visit a dealership, according to a recent survey by CarGurus. This article discusses more-detailed findings from this consumer sentiment survey.
-
An advisory board can boost your business
Summer 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 514
Abstract: A growing number of businesses today are creating advisory boards to provide owners with assistance to help them meet specific challenges. This includes automobile dealerships, which have certainly faced their share of challenges over the past year. This article covers defining a board’s purpose, selecting members and maximizing a board’s benefits.
-
Buying another dealership? Preliminary due diligence can improve your odds of success
Summer 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 716
Abstract: Many dealerships have fared well during the pandemic as many commuters have turned to buying private vehicles over using public transportation and for other reasons. As a result of their success, some owners are eyeing the purchase of another dealership. But before taking that plunge, dealers need to examine their financial health and franchise requirements, identify risks, size up employees and choose the right structure for the deal.
-
5 financial and accounting processes that might be due for a revamp
Summer 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: Now might be a good time for a dealership to rethink and revamp its financial and accounting processes, if it hasn’t done so already. Some of them may have been in place for a long time and outlived their usefulness. This article offers five ideas to consider, including using an automated payable system, accelerating bank reconciliations and streamlining monthly closings.
-
ERC: Does your dealership qualify for this valuable tax credit?
Spring 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 496
Abstract: Two laws passed in the last six months have included a number of COVID-19-related provisions that could benefit dealerships. Among these are extensions and modifications of several CARES Act provisions, including the Employee Retention Credit (ERC). This article highlights the tax credit’s extended qualification period and other significant changes.
-
A key lesson learned from the pandemic – Ways to lower your dealership’s cost structure
Spring 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 506
Abstract: The COVID-19 pandemic turned the dealership world upside down last spring, and the ramifications are still being felt. With over a year’s experience in the rearview mirror, it’s a good time to discuss a pivotal lesson learned during this precarious time: the importance of lowering the business’s cost structure. This article takes a look at three areas to examine: staff compensation, advertising and inventory.
-
Thinking through the financial exec hiring decision
Spring 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 689
Abstract: Despite the pandemic, many dealerships have seen strong financial results amid bumped-up consumer demand and restored supply chain efficiency. Some have grown to the size where they’re considering stepping up the financial management of their operation by hiring a controller or a CFO. This article describes what a dealer-owner needs to evaluate when making this decision, including revenue thresholds, responsibilities of the positions, compensation and outsourcing options.
-
Crime fighting – How new technology can help detect occupational fraud
Spring 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 865
Abstract: New technologies can more efficiently analyze a dealership’s unstructured data (emails, instant messages and social media posts) as it seeks to uncover occupational fraud. This article explains how natural language processing works and its potential in identifying weaknesses in internal controls and unearthing fraudulent behavior before it’s too late. A short sidebar highlights some eye-popping fraud numbers from the Association of Certified Fraud Examiners’ 2020 Report to the Nations.
-
How to account for forgivable PPP loans
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 423
Abstract: Since the PPP was rolled out as part of the CARES Act last spring, more than 5 million businesses, including some auto dealerships, have taken out PPP loans. These funds have helped businesses weather the negative impact of the COVID-19 pandemic. This article addresses some of the questions about the accounting treatment of forgivable PPP loans.
-
Succession planning – Does your dealership have a buy-sell agreement?
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: A buy-sell agreement is a legal document that details succession plans if an owner is no longer capable of leading the business. A properly drafted agreement lays out the terms and conditions under which other owners or the business itself may purchase an owner’s interest in the event of his or her death or disability. This article explains reasons to have an agreement and how to fund it.
-
“Secrets” of the balance sheet – Use the document to reveal your dealership’s true financial health
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: Information on an auto dealership’s balance sheet can provide insight into the business’s overall financial picture. Among other things, management can use the balance sheet to determine its return on equity, debt-service and current ratios. It also can help spot unsubstantiated estimates, underreported expenses and even fraud. This article spotlights using the balance sheet to help monitor AR, manage inventory, and evaluate sources and uses of cash. A sidebar explains how rounded numbers on a balance sheet can be a red flag.
-
3 ways DMS can help you work smarter
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 815
Abstract: The DMS is the backbone of an auto dealership’s operations. This article serves up three ways a dealership can use DMS features to improve its efficiency, customer service and bottom line. It discusses how to maximize CRM benefits, use text and emails more efficiently and take advantage of lesser-used DMS modules. A sidebar discusses getting the most out of the DOC reports generated by the DMS.
-
Monitor these metrics to boost online profitability
Fall 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 324
Abstract: Much of selling moved online during the COVID-19 crisis this spring for practically all retailers, including automobile dealerships. The percentage of vehicles sold online increased from less than 10% before the pandemic to 27% in April. This article highlights ways to boost profits in this environment, notably by increasing the profitability of online sales.
-
Pandemic buying: Consumer trends to track
Fall 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: Several consumer automotive trends have emerged since the onset of the COVID-19 pandemic. They provide valuable insights into how consumers view the purchase and ownership of cars and trucks in the current environment. This article highlights three trends: car ownership becoming more comforting, customers expecting to find great deals, and buyers relying more heavily on digital dealership interactions.
-
Controlling cash in a down economy
Fall 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: The COVID-19 pandemic has created an economic downturn of a severity seldom experienced in our nation. Many businesses, including dealerships, have turned to government and business loans to help keep them up and running. But there may be other sources of cash, right in the dealership, that should also be explored. This article looks at three of these cash sources: salaries, inventory and receivables.
-
The “new normal” – How to succeed in the shadow of COVID-19
Fall 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 822
Abstract: COVID-19 has resulted in new ways of doing business. Practically everything from the way buyers shop for vehicles and perform test drives to how paperwork is handled has changed due to the pandemic. This article discusses changes that may be here to stay, such as increased online sales, bumped-up use of digital tools, and limited employee and customer in-store contact. A sidebar spotlights supply chain disruptions.