Details on Understanding
the Client Business
The types of products and services sold.
The classes and categories of the client’s customers.
Whether the business is affected by seasonal or cyclical
demand.
Typical marketing policies for the client and its industry.
Policies regarding pricing, sales returns, discounts,
extension of credit, and normal delivery and payment
terms.
Compensation arrangements that are based on recorded
revenue.
Typical revenue recognition principles used in the
industry and their methods of application.