A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict how the year will go. The differences ...

Variance is a statistical calculation that numerically describes the amount of variation in a data set. If values in a data set wildly fluctuate, variance would be high and predictions based on the ...

Identify budget overages and savings to forecast future costs more accurately. Use variance analysis to pinpoint operational areas needing financial adjustment. Regularly update budgets based on ...