Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. when creating a budget, how much should you factor

When creating a budget, how much should you factor variances into such an analysis?

90.2K

Verified Solution

Question

Finance

When creating a budget, how much should you factor variancesinto such an analysis?

Answer & Explanation Solved by verified expert
4.2 Ratings (519 Votes)
Variance analysis is a process of identifying causes of variation in the income expenses of the current year from the budgeted values It helps the organization to understand the reasons for fluctuations and what should be done to reduce the adverse effect on the budget This helps to create a more efficient budget Variance Actual IncomeExpense Budgeted IncomeExpense Application of variance analysis Most of the organizations follow the below steps while preparing business plans and meeting their    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

1). Distinguish between the central nervous system (CNS) and the peripheral nervous system (PNS) and give...

Advance Math
1.2K views

find the order of 3 modulo 29

Basic Math
1.2K views

Statement If Then Converse Inverse Contrapositive Use the following statement to write in sentence form...

Statistics
1.2K views

An airline company recently boasted about its 73 customer satisfaction rate A corporate watchdog group...

Accounting
1.2K views

9. [-/1 Points] DETAILS SCALCET9 11.10.044. MY NOTES Use a Maclaurin series in this...

Accounting
1.2K views

The City Council of a fast growing city in the west of Canada is planning...

Accounting
1.2K views

Carlton Soup Company is the world's leading maker and marketer of soup and sells other...

Accounting
1.2K views

Fixed costs per unit increases as production levels increses . True or false

Accounting
1.2K views

edited Lamonda Corp. uses a job...

Accounting
1.2K views

Question 2 2 pts Guava, Inc. has financial accounting book income of $8,824,150. This book...

Finance
1.2K views

A) After having assessed your recommendation in regards to the device Leona is looking intowhat...

Accounting
1.2K views

Details of a company's inventory balances for January: January 1 Work-in-Process Inventory $100,000...