“The transaction processing system (TPS) as an activity consisting of three major subsystems called cycles: the revenue cycle, the expenditure cycle, and the conversion cycle. Even though each cycle performs different specific tasks and supports different objectives, they share common characteristics. For example, all three TPS cycles capture financial records, and provide information about transactions to users in support of their day-to-day activities. In addition, transaction cycles produce much of the raw data from which management reports and financial statements are derived. Because of their financial impact on the firm, transaction cycles command much of the accountant’s professional attention.” (Farhat, 2015) 

Required: Refer to the above statement, you are required to choose a company & discuss the Revenue cycle.

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Revenue cycle in Healthcare Insured Patients This is the process through which revenuegenerating transactions are recorded in a company from when they ... View the full answer