Chery’s Lepas moves into premium SUV segment
Chery’s latest international brand, LEPAS, has reached a major milestone as its first model – the L8 – officially rolls off the production line.
- Industry News
- 25 April 2025
OPINION PIECE: I am sure that you are familiar with the old saying – “the job is not finished before the paperwork is done”. This can apply to many situations, some more humorous than others.
It is certainly very applicable to the accuracy of the financial statements for your business. “Profit and Loss” (P&L) cannot be accurately stated unless the balance sheet reconciliations have been performed AND the reconciling items analysed to ensure that they will not potentially have an effect on the P&L in the future.
Unfortunately, laborious tasks like this take time if done properly but the benefits are that you should no longer be on the receiving end of as many horrible surprises. In many instances, the financial staff perform the reconciliation and if it balances, it is a job well done. Boxes are ticked and everyone is happy.
I have seen so many instances of balanced recons not being reviewed by general management. The reconciling items are really where the rubber hits the road and, in most instances, the more reconciling items there are, the more it shows that processes are not working as they should. Reconciling items are often the result of a poor process somewhere.
Obviously, there are many instances where reconciling items are necessary, and these are mainly as a result of timing differences (bank recons, debtors and creditors recons etc). Additionally, older items are usually far riskier and should be given the necessary attention.
Long recons take time, and if reconciling items are kept to a minimum, they will take less time, which means that your financial staff can be more productive and spend time being proactive instead of reactive. Clean and accurate recons are one of the signs of a well-run and efficient business.
Be sure to make “recon reviews” a permanent item on your “to do” list.
Chery’s latest international brand, LEPAS, has reached a major milestone as its first model – the L8 – officially rolls off the production line.
A busy year awaits OMODA & JAECOO, with the all-new JAECOO J7 SHS and the OMODA C7 PHEV just two of the new, electrified models due to reach South African shores later this year.
Chery is taking the car-buying experience into the future by blending technology with a human touch.
Advertisement
Advertisement
I have bad reflexes. I was once run over by a car being pushed by two guys
Woody Allen
After 28 years as the Ford dealership in the rural town of Aliwal North, the Blue Oval will no longer be officially represented in this part of the Eastern Cape.
Inefficiency in a dealership is often not that obvious and that is why it is difficult to identify and address.
In the face of a shifting premium automotive market, Audi South Africa is also currently re-aligning its retail operations according to the new reality where the premium vehicle sector has contracted to nearly a third of its size compared to a decade ago, with 2024 marking the lowest level yet.