exception report

A listing of abnormal items or items that fall outside of a specified range.

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Material deviation between actual occurrence and expectation in a performance report, which warrants management investigation. Undesirable performance is identified, and corrective action is taken on a timely basis. If the variance is favorable, the reasons therefore are also searched out, so further advantage can be taken of the situation. An example is a variance between actual cost and standard cost for labor in a standard cost accounting system. In the area of data processing, an exception report may reflect those transactions not meeting the standards or requirements for the program being run. See also Flash Reports.