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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
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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
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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
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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
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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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