Glossary

A glossary is a dictionary of terms specific to a certain subject. A biology textbook might have a glossary in the back, so you can quickly look up all those technical words.

Budget Variance

Updated on 2023-08-29T11:57:53.639139Z

Budget Variance can be defined as the difference between the budgeted amount and the actual amount of revenues or expenses. Budget variance is seen as favourable when the actual value is greater than the budgeted value. It occurs due to weak assumptions or due to the occurrence of uncontrollable events.