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 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…
Variance Report
A variance report compares budgeted figures to actual results to identify performance gaps. It highlights both favourable and unfavourable variances…
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