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IENG 216. Variances. Budget Variances. Positive (favorable) Variances Negative (unfavorable) Variances. Deterministic Expenses Discretionary Expenses. Materiality of the Variance. Date: 12-07-98. Timeliness. Example. a. Develop a variance report by expense
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IENG 216 Variances
Positive (favorable) Variances Negative (unfavorable) Variances
Deterministic Expenses Discretionary Expenses
Date: 12-07-98 Timeliness
Example a. Develop a variance report by expense b. Which expenses are important (Mngmt by exception)? c. Which variances are significant (materiality)?