For Variance Analysis we have terms and definitions in 2 topics. The topics are Accounting and Business Process.

Variance Analysis (Accounting)

is the analysis of performance by means of variances. Used to promote management action at the earliest possible stages. After a budget (based on standard costs) has been setits usefulness lies in the review procedures which compare actual results against the budget. Variance analysis is the process of examining in detail each variance between actual and budgeted/expected/standard costs to determine the reasons why budgeted results were not met (material costs too highsales prices too lowetc.).

Variance Analysis (Business Process)

The difference between the budgeted and actual cost of work performed. Variance can be calculated based upon time as well as cost.

Similar

Browse words that start with:

• Va
• Var
• Vari
• Varia

Browse All Terms by First Letter

Term Search