December 2009

Dealership Management 101: Applying Old School Tactics in a New World

By Lamar J. Lewis-Sutton, CPA, CFE, CFF (llewissutton@mbafcpa.com)

There is little doubt that information technology has revolutionized the way dealers manage their operations. Advances in technology have made it much easier for them to keep abreast of business functions and their financial position. However, having quick access to information and to manufacturer data can create a false sense of security. The fact is, nothing can replace some of the traditional approaches to running a dealership – and protecting its cash - that have contributed to successful ventures for years. Some tasks that may seem outdated, such as manually flipping through cancelled checks, reviewing the payroll check register, and actively scrutinizing transactions on the bank statement, can help prevent financial errors and acts of fraud.

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Contact us:
Tony Argiz, CPA/ABV/CFF,  ASA, CVA, CFE Managing Partner targiz@mbafcpa.com	Ira Silver, CPA Partner isilver@mbafcpa.com
Marc S. Dickler CPA Partner mdickler@mbafcpa.com	Mark Thaw, CPA/ABV, CVA Partner mthaw@mbafcpa.com
Manuel Rodriguez, Jr., CPA Partner mrodriguez@mbafcpa.com	Phil Villegas Head of Dealership Consultancy pvillegas@mbafcpa.com

For a Copy of Phil Villegas’ latest industry insights as published in his monthly, column, please visit: www.wardsdealer.com or www.mbafcpa.com/Industries/Automotive2

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The purpose of this newsletter is to provide general information on tax, audit and other issues related to the automobile dealership industry.  The information contained herein may not apply to all businesses or organizations and their specific circumstances.  Dealerships are encouraged to consult directly with an accounting expert before making tax and accounting decisions.