Additional:
Revenue Cycle in its:
Simplest form is the direct exchange of finished goods or services for cash between a seller and a buyer
Complex form is to process sales on credit.
2 Major Subsystems
1. The sales order processing
2. Cash receipt subsystem
The revenue cycle as a Conceptual System is Technology neutral
Revenue Cycle for Retail, Wholesale, Manufacturing includes:
1. Sales order procedures
2. Sales return procedures
3. Cash receipt procedures
Revenue Cycle for Service use industry specific methods.