The Bridge in Bridgehampton, N.Y., charged a whopping $750,000 to join, according to a 2007 Wall Street Journal article. Another Hamptons club, Sebonack Golf Club, billed new members for $650,000 when it opened in 2006, Bloomberg reported.
Hence, the revenue cycle actually consists of two major subsystems (assuming sales on credit basis): 1  the sales order processing system and. 2  the account receivable system.
Audit Procedures Related to the Revenue Cycle Sales: 1. Verify that recorded sales are based on approved sales orders and shipping documents 2. Determine that sales are recorded at appropriate amount and in proper period 3. Books and Records. Becker Auditing â 2008 Edition. Chapter 4. 2.