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Definitions:
Variances
The difference between expected and actual performance, used in accounting and finance to track deviations from budgets.
Problem Areas
Specific challenges or issues within a business or system that require attention and resolution for improved performance or outcomes.
Corrective Action
Measures taken to identify, eliminate, and prevent recurrence of defects or problems in a product, process, or system.
Variance Analysis
A technique used to identify and explain the reasons for differences between budgeted and actual financial performance.
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