The Revenue Cycle of a business is focused on the functions required to exchange its products or services with customers for cash. It includes:

  • Taking orders from customers
  • Shipping finished goods
  • Customer use of company services
  • Maintenance and collection of accounts receivable, and
  • The receipt of cash from customers

The revenue cycle is the cycle in which the physical control and ownership rights over resources are given up in exchange for cash, the cost of sales is an accounting function which may be identified with the revenue cycle.

Course Key Concepts: Internal Accounting Controls, SOX 404, ICFR, Internal Control over Financial Reporting, Independent Public Accountants, Internal Auditors, Business Cycles, Treasury, Expenditure, Purchasing, Payroll, Conversion, Revenue.

Learning Objectives
  • Discover and understand the objectives and limitations of Revenue Cycle Accounting Controls.
  • Explore the process for risk assessing Revenue Cycle Accounting Controls.
  • Recognize the importance of Revenue Cycle Accounting Control Goals.
Last updated/reviewed: October 30, 2024

Included In Certifications

This course is included in the following Certification Programs:

7 CoursesAssessing Business Cycle Accounting Controls Certification

  1. A Framework for Assessing Business Cycle Accounting Controls - Introduction
  2. A Framework for Assessing Business Cycle Accounting Controls – Treasury Cycle
  3. A Framework for Assessing Business Cycle Accounting Controls - Expenditure Cycle - Purchasing
  4. A Framework for Assessing Business Cycle Accounting Controls - Expenditure Cycle - Payroll
  5. A Framework for Assessing Business Cycle Accounting Controls - Conversion Cycle
  6. A Framework for Assessing Business Cycle Accounting Controls - Revenue Cycle
  7. A Framework for Assessing Business Cycle Accounting Controls - Financial Reporting Cycle
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course. Students should have a basic knowledge of accounting principles and terminology.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Course Outline1:24
  The Concept of Internal Controls11:00
  The Revenue Cycle - Typical Functions and Impacts5:02
  Revenue Business Cycle Control Goals - 1 to 616:00
  Revenue Business Cycle Control Goal 7 to 108:16
  Revenue Business Cycle Control Goal 11 to 1511:08
  Conclusion0:18
CONTINUOUS PLAY
  A Framework for Assessing Business Cycle Accounting Controls - Revenue Cycle53:08
SUPPORTING MATERIAL
  Slides: A Framework for Assessing Business Cycle Accounting Controls - Revenue CyclePDF
  A Framework for Assessing Business Cycle Accounting Controls - Revenue Cycle Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam