Budget variances are the difference between a planned budget amount and an actual amount. An analysis of budget variances will reveal the reason behind failures. It helps point out the trends to make your company a success. A budget analysis should be performed at least once every quarter at a minimum and when the market changes due to a crisis like COVID-19, it should be done every week. You need to know the right time to respond to environmental changes and market fluctuations.
Budgeting is essential for operating a successful business. While learning the ins and outs of creating a working.
