Your manager is keen for income to appear on the income statement and has asked you (their accountant) to clarify the order-to-cash process, and at which step of this process the income is booked.

a) Explain the order-to-cash process, emphasising the book-keeping processes that that take place at each step. Pinpoint at which step income is typically accounted for.

b) Discuss the main characteristics of enterprise resource planning systems and explain how they are different from customer relationship management (CRM) systems.

c) In Section A we looked at the procure-to-pay process and the three-way match control. Describe a similar control for the order-to-cash process, explain how it may fail and possible reasons.

Answer rating: 100% (QA)

a 1 Order management 2 Credit management 3 Order fulfillment 4 Order shipping 5 Customer invoicing 6 ... View the full answer