AFM341 Chapter Notes - Chapter 11: Shipping List, Merchant Account, International Standard Book Number

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM341
• Professor: Clark Hampton

Document Summary

Revenue cycle: respond to customer inquiries: customer inquiries are handled by a salesperson. Helps in understanding a company"s products and selecting them: develop agreements with customers to provide goods/services in future: customer orders for products and contracts between company and customer for future delivery of products. Key employees: order entry clerks + salesperson: provide goods/services to customer: for services = service providers are main workers. 3 characteristics of revenue: order method, payment timing, form of payment. Alternate revenue cycle systems: different order timing, payment timing, various types of payments. Ex: restaurant [order before delivery, after service payment, cash/check/card] Ex: convenience store [no order, at time of purchase, cash] Ex: magazine publisher [order subscription, before receipt, check/card] Sales_order_detail table: attributes are - order#, isbn, order_quantity, quantity_shipped, price. Shipment_detail table: attributes are - shipment#, isbn, quan_shipped, quan_invoiced. Sales_invoice_ gl_detail table: attributes are - invoice#, gl_account#, amount. More focus on input controls here because important for revenue cycle.