There is a near-universal assumption in both practice and literature that greater accuracy and management to the budget improves profitability (Libby & Lindsay, 2010; Umapathy, 1987). Prior to this ...

When wages or contract-labor expenses exceed management expectations, they are called unfavorable labor-price variances. These can have several effects on a business, including creating cash-flow ...

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 ...