The revenue cycle is a method of defining and maintaining the processes used for the completion of an accounting process for recording revenue generated from services or products provided by the company, which include the accounting process of tracking and recording transaction from the beginning, normally which starts from receiving an order from the customer or entering in agreement with the customer, delivering an order to customer and end with getting payment from the customer. The figure on the next page describes the different business activities of four departments, including (1) Sales Department, (2) Accounting Department, (3) Warehouse/Shipping, and (4) Mailroom.

Required: Based on the below figure, discuss the uncontrolled risks associated with the system as currently configured? And describe the controls that need to be implemented into the system to mitigate the risks in the given scenario.

Sales Department Accounting Department Warehouse/Shipping Mailroom Gains Order Solos Customer Customer Order Check Invoice Packing Remitlance Slip Packing achice Slip Customer Order Check Fornitiance AR Sub Advice Ledger Pick Goods BA Update Approve Customer. Imrantory Inventory crodit, propane record CR. send goods to Sub ledger Salas Sales Order Update GL Carrier Journal and Rocoal Accounts Open mail Sale and mconcilo HA and Chock CA Journal Salon Packing Order Slip Sales Check Couder Remillanice Invenice Sales Advice Pucking Carrier Sales Order Check Packing Deposit Slip Slip Customer Bank