Term
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Definition
| Amount of the variance in any line-item that is caused simply by the fact that the work load level has changed |
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Term
| volume and quantity adjusted budget |
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Definition
| A budget that indicates the spending that would have been anticipated if one had known the actual volume of output and quantity of input that would occur. |
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Term
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Definition
| Comparison of actual results as compared with the budget, followed by investigation to determine why the variances occured |
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Term
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Definition
| Difference between the budget and the actual results |
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Term
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Definition
| Another name for the quantity variance, so-called because the quantity variance focuse on how much of a resource has been used |
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Term
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Definition
| variance in which more was spent than the budgeted amount |
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Term
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Definition
| Sum of the price, quantity, and volume variances; the difference between the actual results and the original budgeted amount. |
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Term
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Definition
| assessment of how much the variance between expected and actual revenues results from changes in the total demand in a given geographic region, an org's share of that total demand, its mix of products or services, nad the prices for each class of product or service. |
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Term
| responsibility accounting |
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Definition
| Attempt to measure financial outcomes and assign those outcomes to the person or department responsible for them |
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Term
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Definition
| portion of the total variance for any line-item that is caused by using more input per unit of output than had been budgeted. |
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Term
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Definition
| price variance that relates to labor resources. In such cases it is typically the hourly rate that has varied from expectations |
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Term
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Definition
| portion of the total variance for any line-item that is caused by spending a different amount per unit of resource than had been anticipated (e.g. higher or lower salary rates or higher or lower supply prices) |
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Term
| management control system |
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Definition
| MCS. Complete set of policies and procedures designed to keep operations going according to plan. |
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Term
| flexible budget variance analysis |
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Definition
| Method of analysis that incorporates the fact that at least part of the total variance for any line item is often the result of changes in the level of activity. |
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Term
| flexible budget variance analysis |
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Definition
| Method of analysis that incorporates the fact that at least part of the total variance for any line item is often the result of changes in the level of activity. |
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Term
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Definition
| difference between actual results and the flexible budget |
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Term
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Definition
| variance in which less was spent than the budgeted amount |
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Term
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Definition
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Term
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Definition
| variance caused because the relative proportions of the amount of each product produced or sold differ from the expected proportions. (expected half A half B, got 3/4 A 1/2 B) |
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