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variance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › variance

  • This topic has 3 replies, 2 voices, and was last updated 10 months ago by John Moffat.
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  • April 5, 2022 at 7:41 am #652721
    noitiut
    Member
    • Topics: 9
    • Replies: 5
    • ☆

    Sir, if the variance is not recurring, should we still investigate the cause of the variance?

    April 5, 2022 at 9:14 am #652728
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    You would not know whether or not it was going to recur until you had investigated why the variance occurred. The point of investigating is to try and make sure that it does not recur.

    April 5, 2022 at 10:34 am #652733
    noitiut
    Member
    • Topics: 9
    • Replies: 5
    • ☆

    thank you Sir.
    Also, are those operating statements (which list the variances to show why the actual profit is different than the budgeted profit) distributed to budget holders?

    April 5, 2022 at 2:28 pm #652748
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    They could be – there are no rules – but it is unlikely. Budget holders would more likely just be asked to explain/investigate the variances that they are responsible for.

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