Budget Variance

Budget Variance

In accounting, the difference between the estimated and actual cost of a project or other operation. See also: Budget report.
Mentioned in ?
References in periodicals archive ?
The vertical distance A B, the excess of actual overheads over the budget allowance, represents the budget variance. This variance will usually be in part a price variance, due to differences between the standard and actual prices of overhead services or indirect materials, and in part a spending variance, due to divergences between actual and budget expenditures unrelated to price variations.
Direct negotiations for lower prices from vendors is about the only way we can go when trying to eliminate a negative budget variance."
The positive annual budget variances are primarily driven by the county's conservative planning that produce surplus revenues, healthy expenditure budget variance that ultimately realize little to no use of fund balance.
Next, they create a flexible budget performance report to isolate the volume variance and flexible budget variance and brainstorm possible causes of the variances.
The majority of the over budget variance in 2012 is directly related to the search for a new CEO, which is ongoing.
The survey questions asked respondents if they used the budget to control costs and used it to perform flexible budget variance analysis.
Table 2, Panel A presents an overview of ABC Company's traditional flexible budget variance analysis for the year.
The budget variance tool is a customized application that allows the multihousing owner or manager to check and manage property expenditures.
The National Parks Conservation Association seeks a controller to prepare and distribute monthly financial reports and budget variance explanations; prepare annual financial reports; create and pro gram new reports as needed; ensure accuracy of financial reports; create and update accounting policies and procedures manual; prepare routine cash analysis and projections; supervise necessary staff; and assist the vice president.
Graph 2: Budget Variance. This three-dimensional column graph displays the variance between actual and budgeted revenues and expenses for the year 1998.
Using a spreadsheet-type microcomputer program developed in-house, and entering the section's monthly cost-center budget variance data, one can effectively manage single- or multi-cost-center budgets.