Loblaws Inc: Sales And Collection Cycle

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The key process cycle that I have chosen for Loblaws Inc is the Sales and Collection cycle. I believe the high volume of sales that the company has and many different accounts with small balances ranging from cents to millions increases the engagement risk while planning and performing an audit.
The accounts included in this cycle are:
1. Gross sales = cash sales + sales on account → Account balance $ 32,371,000,000
2. Accounts receivable ending balance= Beginning balance +sales on Account - cash receipts -sales returns and allowances- charge of uncollectible account
Account balance = 618,000,000; Credit card receivables balance = 2,538,000,000
3. Cash in bank (cash sales + cash receipts-cash discounts)
Cash balance = 515,000,000; Cash and cash equivalent balance = 2,260,000,000
4. Sales return and allowances→ in the detailed Income Statement of Loblaws Inc this account is not present. I would assume that the sales return and allowances are very insignificant for the company or they are already incorporated in the revenue amount (gross sales – returns)
5. Bad debts balance = (...

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