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"When The Rubber Hits The Road In - 2012"

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Summary

Chapter 1

Know your transport costs when the rubber hits the road.

This chapter gives a quick overview of motor carrier deregulation and how the Bureau of Accounts uniform system of cost accounts was scrapped in 1987, taking sound transport cost accounting principles down the drain with it. How the new GAAP “crap” (generally accepted accounting principles) destroyed for transport owners and managers cost accounting concepts that were used successfully for over 50 years prior to 1980 deregulation.

Chapter 2

De-regulation: Only rate making.

Since 1935, transport services are and will remain a regulated utility under the Federal Commerce Clause. This chapter gives a quick overview history of rate regulation and deregulation by the Interstate Commerce Commission and how the Bureau of Account’s Uniform System of Cost Accounts was archived taking all the sound transport cost accounting principles with it.

Chapter 3

De-regulation: The growth of broker market makers.

This chapter covers the evolution and growth of brokers after rate deregulation and how they now work with shippers to drive down and keep down the freight prices in unbalanced freight areas through by marketing, media and load boards. How reverse auction techniques and tactics are employed to keep market prices in these areas below the current and full cost of transport, let alone return a profit.

Chapter 4

Why transport carriers fail.

This chapter discusses in detail the number one and two reasons transport carriers fail: Inadequate transport margins and inadequate record keeping, resulting in not knowing the full cost of transport services. Thus the freight rates needed to cover the full cost of transport to include a profit and fair and reasonable return on invested capital, necessary to stay in business.

Chapter 5

Over-the-road costs: The biggest sucking sounds.

This chapter identifies the first major cost segment, over-the-road variable line haul costs. Costs that must be consumed, properly accounted for, and measured daily, monthly, yearly, to generate sufficient transport margins necessary to breakeven and generate profits.

Chapter 6

Transportation margins: How, When, Where Profits are Generated.

This chapter details what transport margins dollars are. How they should be measured within any accounting system, when and at what point are profits generated. The chapter also covers how transport margins vary in proportion to the relevant range of miles driven. Empty miles and the effect they have on transport margins and the breakeven revenue point and bottom line are illustrated. Formulas for breakeven and targeted profit points and per mile breakeven and targeted profit points are provided. These are simple and quick calculations that can be made right from current, accurate and complete income statement prepared on both a percentage of revenue and on a cost per mile basis. This chapter is why the handbook comes with at a money back guarantee. It will improve operating performance.

Chapter 7

Fixed line-haul costs: hourly, daily and yearly.

This chapter covers the first of three key fixed costs segments, fixed line haul costs there every hour, day, and year. In addition the best fixed cost accounting depreciation methods for recovering depreciation costs are discussed. One of the most innovative depreciation methods are suggested to expense depreciation costs and quickly make cash flow calculations right from current, accurate and complete financial statements. Building cash flow gives peace of mind to every manager and owner. How accountants should handle depreciation differences when reporting to the IRS, bankers and other outside third party users of a transport carrier’s financial statements. Financial benchmarks are provided for all the fixed line-haul costs in this category.

Chapter 8

Shop and maintenance costs: Trucks get old too.

This chapter identifies the second key fixed cost segment, shop and maintenance costs every transport carrier incurs. Per mile and gross revenue benchmarks to determine whether a shop should be maintained or out-sourced to third party repair and maintenance shops are provided.

Chapter 9

Administrative costs: Decisions make or break a company.

Transport remains a regulated industry and managers, owners and general and administrative personnel must comply with various federal and state safety regulations, perform substantial record keeping, compliance, and other administration duties. This chapter identifies the key administrative cost categories along with the financial benchmarks on both a per mile and revenue basis.

Chapter 10

Profits and Cash flows: Cash is still king.

This chapter illustrates for a transport carrier how to generate cash flows from operations, providing a Quick Cash Flow Check method to determine adequate cash flows available to meet current and long-term tractor, trailer and equipment obligations. The method is simple and easy to perform from any current, accurate and complete financial statement.

Chapter 11

Financial Benchmarks: The four key transport cost segments.

In this chapter all the financial benchmarks for the four key transport cost segments are covered. Current benchmarks are provided for variable over-the-road line haul costs and transport margins needed to breakeven. In addition benchmarks for fixed line-haul costs, shop, and administrative costs are presented on both a percentage of revenue and a high and low range of miles driven.

Chapter 12

The system is the solution: Truckwin Dispatch and Accounting Software.

While any accounting system with a flexible chart of accounts system can be used, this chapter provides a quick overview of how the four key cost categories are built right into the model chart of costs accounts using the Truckwin Dispatch and Accounting Software. They consists of the following modules:

  1. Freight Billing
  2. Accounts Receivable
  3. Driver Advances
  4. Payroll
  5. Accounts Payable
  6. Revenue Settlements for Owner/Operators and Independent Transport Carriers
  7. General Ledger and Financial Statement Preparation
  8. Integrated Fuel Tax Accounting and Reporting

Truckwin is a fully integrated dispatch and accounting system that records, summarizes and accumulates all of the costs segments discussed in this handbook. Used in conjunction with the management tools and data discussed in this handbook, improved financial performance can be assured