I’m working on a business question and need an explanation and an

Learning Goal: I’m working on a business question and need an explanation and answer to help me learn.
The figure below depicts the activities performed in the revenue cycle by Collier’s Construction Supplies.
Collier’s Revenue Cycle ProceduresThe table showing the steps in the revenue cycle of Collier’s appears as follows:
Activity Performed (sequential, left-to-right across all rows)
Sales Clerk
Receive customer order, prepare sales order, Is sales more than credit limit?
If no: Issue credit memo
If yes: Send information to credit manager
Warehouse Clerk
Pick order from sales clerk and pack order
Shipping Clerk
Get packed order from warehouse clerk and ship to customer
Credit Manager
Approve/deny credit on the basis of information received from sales clerk
Prepare and mail invoice to customer, update accounts receivable
Update accounts receivable on the basis of information received from sales clerk and cash collections clerk, deposit remittances in bank
Cash Collections Clerk
Receive remittance from customer, stamp “For deposit only” and send information to accountant, receive and reconcile bank statement (monthly)
RequiredIdentify at least three weaknesses in Collier’s revenue cycle. Explain the resulting threat, and suggest methods to correct the weakness.
Identify ways to use IT to streamline Collier’s revenue cycle activities. Describe the control procedures required in the new system. (CPA Examination, adapted)
Submit your answers to these questions as a Word doc or pdf here by the due date. Be thorough and concise. Bullet points and/or paragraph formats are acceptable for your write up. Use full sentences.

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