A review of the financial statement will be performed to compare with a peer group or industry standards. Any exceptions will be noted and discussed.
Financial Statement Analysis
A review of the financial statement will be performed to confirm proper accounting procedures. Any exceptions will be noted and discussed.
An overview of the dealership’s utilization of the computer system will be reviewed. Recommendations may be made to help the dealership become more efficient.
Office Efficiency Overview
A review of the office staff will be performed to confirm all necessary accounting functions are performed. Cross training and controls will be considered and possible recommendations for improvement may be made.
Journal Entry Procedures
Journal entry controls will be reviewed. Random journal entries will be selected and reviewed for proper authorization posting and control.
Pay Plan Analysis
Pay plans vary from dealership to dealership not only in compensation, but in complexity as well. Looking at your dealership compensation of salespersons and service is a good start to comparing pay plans.
Vehicle Inventory Observations
Perform a management advisory service to reconcile the vehicles on the lot with the vehicles on the inventory schedule. These observations are usually done in conjunction with an accounting audit or financial institution review.
Forecasting and Budgeting
Combining financial statement analysis with projection for future revenue, gross profit, and expenditures. Opportunity to review spending and sales projections for the dealership.
Specific Account Analysis
In addition to broad forecasting and analysis, we will look at specific accounts or functions such as pay plans or fixed operations line items. This is a good opportunity to drill down to particular financial records.
Acquiring a new car franchise requires interaction with several parties. This requires a review and an understanding of dealership financials and personal information. We can assist with forms, manufacturer applications and financial requests.