Variance Analysis
Variance analysis is the process of comparing actual financial outcomes to budgeted or standard figures. It identifies differences called variances that may be favourable or unfavourable. This analysis helps management understand performance, control costs, and make informed business decisions based on deviations from planned financial activity.
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Valuation Allowance
A valuation allowance is a reserve account used to reduce the value of a deferred tax asset when it's unlikely…
Valuation
Valuation is the process of determining the fair market value of an asset, company, or liability. It’s essential for financial…
Value Added Tax (VAT)
VAT is a consumption tax imposed at each stage of the supply chain where value is added. Businesses collect VAT…
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