Explain the revenue cycle, its components

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Case Study: Mrs. Freddy Mitchell, in her lecture, stated that a transaction processing system (TPS) is software that ensures the completion of business transactions and keeps track of those transactions. An online transaction processing system (OTPS) is an equivalent system that online merchants use for e-commerce. The TPS ensures that each transaction is successful by storing, sending, and receiving information via a database. She added that because the process is lengthy, it is broken down into cycles, which are broken further into systems and subsystems.

Zara- Lee, a participant in Mrs. Freddy Mitchell's Lecture series, got confused as Mrs. Freddy Mitchell began to elaborate on the many different systems, and Zara- Lee mentioned to YOU that she is experiencing information overload.

YOU then responded that Mrs. Freddy Mitchell's explanation was clear and concise.

YOU would explain the revenue cycle, its components, and the sub-systems that constitute that cycle after class.

Required

Give a full outline of your explanation to Zara-Lee.

Reference no: EM133506321

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