CPA Audit Exam-Revenue Cycle-Departments, Documents, Controls-Darius Clark-i75 CPA Review- скачать в хорошем качестве

CPA Audit Exam-Revenue Cycle-Departments, Documents, Controls-Darius Clark-i75 CPA Review-

https://course.i75cpa.com/course/dari... On the CPA Audit Exam, a candidate needs to get familiar with the documents and departments within the client’s system. Auditor is looking for proper authorization of sales, approvals and control activities that ensure segregation of duties. Auditor is trying to assess control risk within the departments and within the entire revenue cycle. Each document will have copies sent to various departments. The Revenue Cycle involves activities related to the sale of goods or services and the collection of payments. It includes the following major departments: Sales Order Processing – Receiving and approving customer orders. Credit Approval – Ensuring the customer has the ability to pay. Warehouse- managing inventory, ensuring order fulfillment. Warehouse acts as the link between sales order processing and shipping, ensuring that only authorized goods are picked, packed, and sent to shipping. Shipping of Goods or Service Fulfillment – Delivering products or services outside the company. Billing and Accounts Receivable Recording – Invoicing the customer and recording revenue. Cash Collection and Accounts Receivable Updates – Receiving and processing customer payments. Returns and Allowances – Handling returns and issuing refunds or credits.