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A budget is all expenses of the performances which has done by actual forecasting in front of the income and sources but balance sheet is a sheet that we appear what we have and both sides of balance should be equal and shows the situation of a company but budget shows the estimation of the costs!
What else can I help you with?
What is budget variance?
A budget "variance" is the difference between planned and actual performance.
What is a budget variance?
A budget "variance" is the difference between planned and actual performance.
Fixed-overhead budget variance?
Fixed overhead budgeted variance is the difference between estimated budgeted cost and actual fixed overhead cost of production.
What is the Difference between budget and actual expenditure?
Budget is the projected financial estimate in a given year, whilst expenditures are the actual expenses incured in carrying out the budget.
How do you calculate a budget variance as a percentage?
actual budget/budget = variance%
How do you calculate budget variance percentage?
Variance = 100*(Actual - Budget)/Budget
How to calculate the Budget variance percentage?
how to calculate budget variance percentage?
What is the static-budget variance of operating income?
The static-budget variance of operating income is the difference between the actual operating income and the budgeted operating income based on the original static budget. This variance helps businesses assess their performance by highlighting discrepancies caused by factors such as changes in sales volume, costs, or efficiency. A favorable variance indicates better-than-expected performance, while an unfavorable variance signals potential issues that may need to be addressed. Analyzing this variance allows management to make informed decisions for future budgeting and operational strategies.
What is a positive or negative variance of a budget?
A variance is the difference between the projected budget and the actual performance for a particular account. A negative variance means that the budgeted amount was greater than the actual amount spent. A positive variance means that the budgeted amount was less than the actual amount spent. Note there is some debate over whether a negative variance means an underrun or an overrun. The Project Management Institute, however, endorses the accepted convention that a negative variance is a bad thing, and a positive variance a good thing.
What is the difference between financial budget and a financial budget?
There is no difference between them.. Their difference only is how you understood about financial budget.. :)
What variance in a comprehensive performance report using the flexible budget concept is most appropriate for measuring efficiency of operations?
The most appropriate variance in a comprehensive performance report using the flexible budget concept for measuring operational efficiency is the "Efficiency Variance," often referred to as the "Usage Variance" or "Input Variance." This variance assesses the difference between the actual input used and the expected input based on the flexible budget for the actual level of activity. It highlights how well resources are utilized relative to what was budgeted, thereby providing insights into the effectiveness and efficiency of operations. Analyzing this variance helps identify areas for improvement in resource management and operational processes.
What is the fixed manufacturing overhead budget variance equal to?
Fixed manufacturing overhead budget variance is?
