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Auto Dealerships (New Cars) Edition

Discusses books and records, inventory, aftersale financial products and other issues unique to the industry These may include related financial companies, covenant not to compete, advertising associations, etc…..

TABLE OF CONTENTS

  • CHAPTER 1: INDUSTRY BACKGROUND
    • Introduction 1-1
    • Industry Jargon 1-1
    • Industry Overview 1-1
    • Impact of State Regulation and State Law 1-2
    • Curbstoners 1-3
    • Records 1-3
    • Consignments 1-5
    • Auctions 1-6
    • Titling Issues and Processes 1-7
    • Automobile Sales 1-9
    • Initial Interview 1-11
    • Information Sources on Used Car Dealers 1-18
  • CHAPTER 2: ACCOUNTING METHODS
    • General Information 2-1
    • Change of Accounting 2-2
  • CHAPTER 3: GROSS RECEIPTS
    • Introduction to Gross Receipts 3-1
    • Internal Controls 3-1
    • Miscellaneous Income 3-2
    • Fee Income 3-3
    • Rebate Income 3-4
    • Warranty Contracts 3-5
    • Consignments 3-6
    • Dealer Financing 3-6
    • Sales Taxes, Registration & Licensing Fees 3-7
    • Non-Taxable Receipts 3-8
    • Income Reporting 3-8
    • State Departments of Transportation/
      Motor Vehicles 3-10
    • Repossessed Vehicles 3-11
  • CHAPTER 4: COST OF GOODS SOLD/INVENTORY
    • Introduction to Cost of Goods Sold/Inventory 4-1
    • Inventory Valuation 4-3
    • Accounting Records 4-3
    • Trade-Ins 4-4
    • Cost Basis of a Trade-In 4-4
    • Trade-in Valuation 4-6
    • Repossessions 4-11
    • Issues 4-12
    • General Audit Techniques 4-13
    • Specific Audit Techniques 4-14
    • References 4-17
    • Sample Workpapers 4-19
  • CHAPTER 5: BALANCE SHEET
    • Introduction to Balance Sheet 5-1
    • Cash 5-1
    • Accounts Receivable 5-2
    • Inventory 5-3
    • Loans to Shareholders 5-3
    • Loans Versus Constructive Distributions 5-4
    • Fixed Assets 5-5
    • Loans From Shareholders 5-6
    • Short Term Liabilities 5-7
    • Other Current Liabilities 5-7
    • Deferred Income Accounts 5-8
    • Retained Earnings 5-10
  • CHAPTER 6: EXPENSE ISSUE
    • General 6-1
    • Advertising Expense 6-2
    • Amortization 6-2
    • Contributions 6-4
    • Dues and Subscriptions 6-5
    • Interest Expense 6-5
    • Legal and Professional 6-5
    • Employee Benefits 6-6
    • Freight and Delivery 6-6
    • Commissions and Fees 6-7
    • Demonstration Expense 6-8
    • Insurance Expense 6-10
    • Group Health Insurance 6-11
    • Vehicle Service Contracts
    • (Extended Service Warranty) 6-12
    • Corporate Owned Life Insurance 6-12
    • Payroll 6-13
    • Policy Work or Adjustments 6-13
    • Rent Expense 6-14
    • Travel and Entertainment 6-15
  • CHAPTER 7: REQUIRED FILING CHECK
    • General Information 7-1
    • Form 7-2
    • Employee/Independent Contractor Status 7-4
    • References 7-6
  • CHAPTER 8 : RELATED FINANCE COMPANIES
    • Overview 8-1
    • Economic Reasons 8-1
    • Validity or Form of RFC 8-3
    • conomic Substance 8-4
    • Issues 8-5
    • Issue Development 8-6

Item #4147120E


Price: $91.75  Sale price $55.97

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Sacrifice is not limited to our men and women in uniform.  Children, spouses and families of military personnel are deprived of special times while their loved ones are deployed far from home.  Even when hostilities subside, they often remain separated – sometimes for years!
 
With all of the conflicts taking place around the world, the children, especially, are often focused on a theatre of battle where their mother or father is serving.  No one can take the place of the children’s parents, but everyone can make a difference in their lives.  The children and family members left behind need our support now more than ever.
 
The Morale Welfare Recreation (MWR) Department organizes a variety of activities and programs to address the needs of these individuals – providing quality support, recreation, and educational services to contribute to the retention, readiness, and mental, physical, and emotional well-being and enjoyment of the military community.
 
 

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