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 world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Financial variance is the difference between budgeted and actual spending. Positive variance means spending less, negative indicates overspending. Regular monitoring reduces surprises and improves ...