Extract Variances Between Actual and Budget Figures

 How to budget for this type of accident if this actually happened?

What are variances?

Variances are the differences between actual and budgeted figures. It measures the performance of actual and budget figures.

Check out these videos to learn about variances:

Variance Analysis and Budgets: Management Accounting video 33

Published on 12 Apr 2012 by iNinjaNotes

Variance Analysis Part 2: Management Accounting video 34

Published on 14 May 2012 by iNinjaNotes

Check out these links to learn about actual and budget figures and their variances:
http://www.ehow.com/info_7778947_accounting-budget-vs-actual.html

http://businesscasestudies.co.uk/business-theory/finance/budgeting-and-cash-flow.html