What is a budget variance?
A budget variance results when an actual amount is different from a planned or budgeted amount.
A budget variance can occur for revenues and for expenses.
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The difference between the actual amount and budgeted amount.
If the budgeted amount is greater then the actual amount then it is favorable
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A budget variance it is the slithness changes between the bubgeted amount and the diference changes involve in an activities in a given periot of time.
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It is a comparative study of showing the position of specific periodic actual expenditure incurred / actual income earned with the fixed budgeted amount for a specific period of time.
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Can a flexible budget variance be larger than its static budget variance?