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This course is designed to provide Office Managers, Accountants, and Owners insight into common collision industry financial and managerial ratios so they can use a common industry Chart of Accounts to standardize reporting and effectively benchmark their business to continuously improve their operations.
Are You Experiencing:
• Inconsistent gross margins
• Poor financial performance
• Lack of direction on how to set up your financial statement Chart of Accounts
• Lack of awareness of industry standards for various operational ratios
• Lack of understanding of business ratios
The Course Will Provide:
• An opportunity to review the basic Acoat selected Chart of Accounts and Income Statement format
• A review of the information coded to each account
• Formulas for the determining break-even points and setting goals based on desired profit levels
• Assistance in setting basic sales and production goals
• Methods and formulas for calculating gross margin and suggestions on ways to improve performance
• An opportunity to discuss operating /overhead expenses and ideas to minimize them
• Methods to calculate various managerial ratios and how to improve them
• Methods for keeping score and maintaining daily operating controls and a discussion on how to improve your results
Participants will be asked to submit their most recent financial statement to allow the BDM to assess its condition, offer process improvement suggestions, and calculate their repair facility’s results.
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