Variance

This topic has 6 replies, 2 voices, and was last updated 4 years ago by John Moffat.

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August 20, 2021 at 9:58 am #632313

johnbriane
Member

Sir can we say operating statement is a variance report

August 20, 2021 at 2:00 pm #632334

John Moffat
Keymaster

Yes it is 🙂

August 20, 2021 at 8:19 pm #632358

johnbriane
Member

Then sir in variance analysis lectures

You did the below

Fixed budget
Flexed budget
Actual result
Variance

So what do we call this process

August 20, 2021 at 8:21 pm #632359

johnbriane
Member

Secondly what’s the difference between operating statements and variance reports sir

August 21, 2021 at 8:15 am #632382

John Moffat
Keymaster

We don’t call the process anything!

Operating statements are a report on the variances. A variance report can mean the operating statement or it can mean reports explaining each of the variances.

August 21, 2021 at 2:01 pm #632411

johnbriane
Member

Ok sir thank you very much

August 21, 2021 at 4:45 pm #632436

John Moffat
Keymaster

You are welcome 🙂
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