Dealership Parts & Service Departments: Operations & Accounting (Completed)

The lease understood department in a retail automotive/heavy truck/equipment dealership is also its highest grossing stream of business. Understanding the business process, accounting techniques, and terminology of the department is essential for those in industry as well as those who serve it. We will cover each of these areas, and provide meaningful takeaway ideas than can be immediately applied to your business or dealership client.

Who Should Attend
Anyone with financial reporting responsibilities in the retail automotive, heavy truck or equipment industry, CPA’s and practitioners with clients in these fields

Topics Covered

• Reporting methodology and standard terminology utilized
• Understanding aging and composition of parts inventory
• Recognizing anomalies in parts and service sales trends
• Risk areas requiring attention by accounting personnel

Learning Objectives

• Identify and apply key terminology used in the department
• Recognize and apply basic analytical tools to detect anomalies
• Identify best practices to help improve departmental operations
• Recognize and implement methods to ensure financial reporting accurately reflects departmental activity

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None