Whether you have had a Dealership audit for years or are in the middle of your first or second, you will no doubt agree that the audit is expensive and time consuming and often results in a report with three- or six-month-old numbers you already knew. The OEM and the bank see value in your audit, so what kind of value should you be able to get? We'll share these tips for getting a return on your audit investment, including:
- Planning tools: how to use the data for other planning purposes — tax planning, market share planning and budgeting, fixed asset planning horizons, budgets and modeling, and others.
- Risk and Accountability tools: how to partition the audit results among departments and leadership team to set accountability and risk management goals.
- Strategic and Succession Planning tools: how to use accuracy of the audited numbers to map out long-term strategies for the dealership and the owners.
- Value of Accuracy: use this time to better understand your process in other areas needing accuracy, including sales tax reporting, income tax reporting, comparable metrics, and industry data analytics. Ultimately, we want to help you make a profit on your audit.
Ultimately, we want to help you make a profit on your audit. (CPE Credit Eligible)
Email Kim Schmidt at Farm Equipment with any questions about the webinar.
About the Speaker
Marc Johnson, Principal, CPA CGMA, Marc proactively counsels business owners on financial and tax matters in order to position them well for growth and business succession. He works primarily with equipment dealerships throughout the United States, and has for over 20 years.
