Variance Report
A variance report compares budgeted figures to actual results to identify performance gaps. It highlights both favourable and unfavourable variances and is used by management to analyse operational efficiency, improve forecasting, and implement corrective actions.
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Valuation Account
A valuation account adjusts the carrying value of an associated asset or liability, such as an allowance for doubtful debts…
Vendor Management
Vendor management is the process of monitoring and optimising relationships with suppliers and service providers. In accounting, it ensures timely…
Variable Overhead
Variable overhead refers to indirect costs that change with production levels, such as power, indirect materials, and machine maintenance. These…
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