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. The firstphase is handled by the sales order processing subsystem, the latter by the cash first section of the chapter provides an overview of the REVENUE CYCLE presented as amanual system.
differen ce, non-value-added tasks. This part of the chapter discusses the effects of technology on both sales order processing and cash receipts from simple data processing to the use of poin t-of-s ale systems, that are prevalent today, electronic data interchange (EDI), and the Interne t. Fig. 4-14, on page 197, presents the structure of the ...
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