Variance analysis, in budgeting (or management accounting in general), is a tool of budgetary control by evaluation of performance by means of variances between budgeted amount, planned amount or standard amount and the actual amount incurred/sold. Variance analysis can be carried out for both costs and revenues.
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Famous quotes containing the words variance and/or analysis:
“There is an untroubled harmony in everything, a full consonance in nature; only in our illusory freedom do we feel at variance with it.”
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