Understanding the Importance of Your Budget Variance to Stay Afloat

Understanding the Importance of Your Budget Variance to Stay Afloat

Budget variances are the difference between a planned budget amount and an actual amount. An analysis of budget variances will reveal the reason behind failures. It helps point out the trends to make your company a success. A budget analysis should be performed at least once every quarter at a minimum and when the market changes due to a crisis like COVID-19, it should be done every week. You need to know the right time to respond to environmental changes and market fluctuations.



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