Transcription of THE REVENUE CYCLE
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THE REVENUE CYCLE
4 James A. HallChapterAccounting Information Systems, 4th. REVENUE CycleStudy Notes Prepared by H. M. Savage South-Western Publishing Co., 2004 Page 4-1 CHAPTER 4 THE REVENUE CYCLEThe REVENUE CYCLE is the set of activities in a business which brings about the exchange ofgoods or services with customers for cash. Most business transactions are conducted on acredit basis. Cash is received after goods are shipped to the customer. Your book discussesthis as a two phase process : the physical phase in which goods or services are transferred tothe buyer; and the financial phase in which the cash is received from the buyer.
B. Reengineering Sales Order Processing with Real-Time Technology Computer systems which process input data as receiv ed, i.e., immediately, are said to operate in real-tim e. The next discussion of the sales order system looks at systems which operate in real-time for most processing while updating key master files in batch mode.
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