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Automobile Dealership ServicesSurrounding yourself with knowledgeable financial advisors is a key to effective management. Selecting a CPA - one who is knowledgeable in dealership finance, accounting, management and taxation can be one of your most important decisions. The 21st century has brought rapid change to the automobile dealership industry. Dealers need competent financial advisors to help them through these changing time. A CPA firm that services auto dealer clients can offer invaluable insight to dealers and their staff. Surprisingly, many auto dealers work with CPA firms that service less than five dealerships. Industry expertise comes from years of experience working with a significant number of clients (50 or more). CPAs with this type of experience can provide vital business advice to a dealer. 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 that has such experience can assist a dealer in many accounting and non-accounting ways. These include devising tax strategies, advising the dealer on financial improvements to the store, buying or selling a dealership, helping develop estate and succession plans, and introducing the dealer to other industry specific professionals. At Downey & Company, our professional staff offers numerous years of experience with auto dealerships. We strive to provide "more than just the 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. Downey & Company has over ninety dealership clients and 25 years of continuous service. See our Automobile Dealership Articles |
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