accounting information system Discussion Board Week 2.docx

Flowcharts range from complex charts detailing every

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Flowcharts range from complex charts detailing every aspect of designing and building a sophisticated product to simple ones used to provide software troubleshooting. The primary benefit of a flowchart is that it bridges the vocabulary gap that occurs between diverse groups that work together, such as between accountants and programmers. Both groups use specific jargon. A flowchart allows each to visualize a process, whether from the programmers' point of view or from the accountants' viewpoint.
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Identify major threats in the revenue cycle and briefly describe each step. Sales Order Entry The revenue cycle begins with the receipt of orders from customers . Shipping The second basic activity in the revenue cycle is filling customer orders and shipping the desired merchandise. Billing The third basic activity in the revenue cycle, involves billing customers Cash Collections The final step in the revenue cycle is cash collections. The cashier handles customer remittances and deposits them in the bank. A remittance list provides the names and amounts of all customer remittances, and sends it to accounts receivable.
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