CFO/Controller Training

Key components and elements of the training program include:

Industry Understanding: In-depth exploration of the automotive industry, including market trends, regulatory considerations, and competitive landscape. Familiarization with dealership-specific terminology, DMS programs, processes, and key performance indicators.

Financial Management: Comprehensive training on financial statement analysis, statistical data entry accuracy, scheduled accounts balances compared to trial balances and aged accounts.
Budgeting, and forecasting. Understanding the dealership's revenue streams, cost structures, and profit margins. Risk management and mitigation strategies tailored to the automotive sector.

Accounting and Compliance: Mastery of accounting principles relevant to dealership operations. Compliance with industry-specific regulations, tax implications, and financial reporting requirements; specific to various manufactures. Implementation of effective internal controls procedures to ensure financial integrity.

Technology Integration: With Level 1 and 2 IT topography understanding, We can help with IT infrastructure and assist in cleaning up various IT assignments. Proficiency in utilizing dealership management systems (DMS) and other industry-specific software. Integration of technology for streamlined financial processes, reporting, and data analysis.

Operational Collaboration: Effective communication and collaboration with other departments, such as New and Used sales, service, parts, and inventory management. Understanding the impact of operational decisions on financial outcomes.

Customer Financing and F&I (Finance and Insurance): Basic familiarity with the financing and insurance available to customers. Understanding the role of Finance and Insurance departments in maximizing revenue and ensuring compliance.

Leadership and Decision-Making: Development of leadership skills to guide financial teams and collaborate with other departments. Training on strategic decision-making, considering both short-term financial goals and long-term business sustainability. 

Continuous Learning and Adaptation: Encouragement of a mindset that values continuous learning to stay updated on industry trends and best practices. Flexibility and adaptability in responding to changes in the automotive market.

By combining these elements with integrity as the main theme, the training program aims to produce a CFO or Controller who not only possesses strong financial expertise but is also well-versed in the nuances of the automotive dealership environment, contributing to the overall success and profitability of the business.