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Variance Analysis
The process of analyzing the differences between budgeted and actual financial performance.
Managers
Individuals responsible for planning, directing, and overseeing the operations and fiscal health of a portion of an organization or the entire organization.
Flexible Budgets
Budgets that adjust or flex according to changes in activity levels or other factors that influence operating expenses.
Unfavorable Variance
A situation where actual costs exceed budgeted or expected costs.
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