This exciting course will enable the attendee to understand the importance of tracking the Correct Profit Centers in both their Management & Accounting Systems.
Attendees will gain an understanding of the differences between Cash and Accrual accounting. Attendees will determine which method is more beneficial to a Collision Repair Facility, discuss and learn the importance of tracking and documenting their production Work In Process (WIP) and Accounting WIP as well as understanding the differences between the two.
Participants will learn how to properly set up their Management Systems to avoid the “Junk In, Junk Out Syndrome!”. Learn what and why specific KPI’s should be monitored , what is the minimum net profit a repair facility should make to not have Cash Flow Problems and many more accounting related issues as they specifically apply to effectively managing a collision repair facility.
This seminar should be mandatory for every Collision Repair Owner or Manager prior to owning, operating or managing a Collision Repair Facility. Many shop owners know what to look for in the shop area, the quality of work produced in their Collision or Refinish Departments. For example, do the welds look good? Is the bodywork straight? Is there a good blend? BUT… most owners don’t know what to look for to see if their accountants or bookkeepers are doing a good job. This class will teach Shop Owners and Managers what to look for when checking behind the scenes through their financial statements and accounting departments.
In addition, Mike will share his 32 Step method guaranteed to help in cleaning up and gaining accurate and CLEAN financial numbers with-in 60 days. All attendees will receive a take away CD full of tools, spreadsheets, a Sample Chart of Accounts and much, much more.
This seminar is typically a 6 or 8 hour full day course.
Target Audience – Collision Management. May also be modified for Mechanical Management.
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This Mike Anderson seminar is certified by the Automotive Management Institute (AMI).