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Variance analysis looks after-the-fact at what caused a difference between plan vs. actual. Good management looks at what that difference means to the In accounting, a variance is the difference between an expected or planned amount and an actual amount. For example, a variance can occur for items contained in a department's expense report. The purpose of a "Variance Report" as shown below is to identify differences between the planned financial outcomes (the Budget) and the actual financial outcomes (The Actual). The difference between Budget and Actual is called the 'Variance". The Variance is depicted below in dollar ($) and percent (%) terms. As this will be the second stocktake, the variance report is an additional step that was not done in the first stocktake. The variance report displays the movement Time variance is the ability to remember historic perspectives. The requirement is to be able to For the context of time and frequency and qualification of oscillators and amplifiers the technical terms time deviation and time variance is defined. This would allow you to report sales totals by city of where the customers lived Meaning. Variance Reports. - Cash Budget. - Performance Budget. - Position Budget. Variance Report (Performance Report). variance. A degree or amount by which things differ. difference An Example- Variance Report for Cash Budget What is 'Variance'. Variance is a measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the Statistical variance gives a measure of how the data distributes itself about the This means the square of the variance is given by the average of the squares of Definition of inventory variance: Difference between the actual number, amount, Such differences are summarized in the variance report that is prepared to
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