How would you answer the post: This chapter focused primarily on the Revenue Cycle. After reading chapter fourteen, I had a thorough understanding of the key decisions that need to be made and threats to the process of each step of the revenue cycle. For example within the Billing step of the cycle, a common threat is the failure to bill. This can cause a loss of assets for the organization and also causes errors within the information system. One control that can be implemented to mitigate this risk is the implementation of separation billing and shipping functions. This prevents employees from sending merchandise to themselves or anyone else without billing them. Another threat within the Billing step of the Revenue Cycle is billing errors, such as pricing mistakes or billing customers who didn't receive an item. This can be detrimental to an organization because this will result in a decrease in customer satisfaction. One control that can be put in place to combat this threat is the reconciliation of picking lists to sales order details, this ensures that mistakes involving quantities shipped will be caught and therefore can be rectified.

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