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.
Identify and assess inherent risks of material misstatement in the revenue cycle 3. Identify and assess fraud risks of material misstatement in the revenue cycle 4. Identify and assess control risks of material misstatement in the revenue cycle. 1.