he order$-$to$-$cash $($O$2$C$)$ process, or sales cycle, involves three main processes:

Sales order processing

Order fulfillment and shipping

Billing and cash collections

Financial accountants are interested in determining the amount of sales revenue on the income statement and accounts receivable balance on the balance sheet as well as the calculation of bad debts expense.

Managers are concerned with making the process as efficient as possible to ensure increased sales volume, sufficient profitability, and fast cash collection.

Auditors should test sales transaction and master data to ensure that only authorized users are processing orders, that sales prices match master data and aren$$t altered, and that customers aren$$t exceeding approval limits$.$ In addition, auditors use accounts receivable aging schedules to evaluate outstanding balances.