Automobile dealerships operate several unique businesses under one roof. No one understands the unique needs of the automobile dealership industry better! With so many businesses running simultaneously; new vehicle sales, used vehicle sales, parts, service, body shop and finance and insurance, dealerships need the tools for efficient management and operation, and they need the resources and expertise to make the most of those tools.
Surrounding yourself with knowledgeable advisers is a key to effective management. Selecting a Certified Public Accountant (CPA) who is knowledgeable in dealership finance, accounting, management and taxation, can be one of your most important decisions.
The automobile dealership industry changes rapidly. Dealers need competent advisors to help them through the changes. A CPA firm that services auto dealer clients can offer invaluable insight to dealers and their staff.
Dealers produce complicated financial statements, use unique accounting and tax methods, and have specialized computer software systems. These are difficult concepts for CPAs that do not specialize in auto dealerships. A CPA firm like Robert F. Murray & Company that has extensive auto dealership experience can assist auto dealers in many accounting and non-accounting ways.
At Robert F. Murray & Company, our professional staff offers numerous years of automobile dealership experience. We provide “more than just numbers” to our clients by developing procedures that highlight areas of particular interest and concern to dealers.
The need for a CPA firm that understands the automotive business is more important than ever. Our professionals can help auto dealerships operate effectively and increase income and cash flow with a variety of services:
- LIFO inventory valuation
- Benchmarking/profit analysis
- Cash flow analysis
- Buying or selling dealerships
- Business valuation
- Transaction tax implications
- Business transaction continuance
- Tax planning and compliance
- Special accounting methods
- State and local tax issues
- Sales and use taxation
- Review of fraud and internal controls
- Retirement planning