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Chapter 10
Marketing/Sales/ Collection/ Customer Support
Process: Recording and Evaluating Revenue Process Activities
McGrawHill/Irwin Copyright © 2011 by The McGrawHill Companies, Inc. All rights reserved.
What are the Primary Activities in the Revenue Process?
• Determine marketing and distribution channels
• Receive and accept orders • Deliver goods/services
• Receive payment from customers • Provide customer support
10-2
Which of the Revenue Process Activities are Accounting Events?
• Deliver goods/services Increase sales revenue
Increase accounts receivable Increase cost of goods sold
Decrease inventory
• Receive payment from customers Increase cash
Decrease accounts receivable • Provide customer support
Various effects, depending on the support
10-3 provided, see Chapter 8 for employee events
What is the Basic Flow of Information in the Revenue Process?
• Customer places an order and credit manager approves credit
• Warehouse releases goods and notifies shipping
• Shipping prepares shipping documents and ships the goods to the customer
• Billing prepares the sales invoice based on the sales order and the shipping notice
• Inventory, accounts receivable, and sales records are updated
10-4
Information Flow Continued
• The mail room receives payment and remittance advice from customers and prepares a remittance list
• Remittance list is used to update cash receipts and accounts receivable records
• The checks are deposited in the bank.
10-5
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