Budgeting is how a business plans for future production cycles. An initial budget - known as a "static" budget - is a necessary planning tool; creating a second, flexible budget allows a business to ...

Static budget variances are the differences between what a company or individual thought it would spend in its budget versus what it actually did. In a static budget, a company or individual creates ...

The revenue variance for an accounting period is the difference between budgeted and actual revenue. A favorable revenue variance occurs when actual revenues exceed budgeted revenues, while the ...

A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict how the year will go. The differences ...

Budgets play a key role in helping companies track their finances, analyze their expenses, and identify ways to maximize their profits. A static budget is one that remains constant even as other ...