Write a detailed note on the uses of variance analysis?

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Variance analysis is a powerful tool used by businesses to measure and analyze the difference between actual and budgeted performance. It is a key component of the budgetary control process, and it helps managers to identify the reasons for variations in performance and take corrective actions. Variance analysis is used in both cost accounting and financial accounting, and it is essential for effective performance management.

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Degree : BACHELOR DEGREE PROGRAMMES
Course Name : BACHELOR IN COMMERCE CHOICE BASED CREDIT SYSTEM
Course Code : B.Com(G) CBCS
Subject Name : MANAGEMENT ACCOUNTING
Subject Code : BCOE 142
Year : 2022 2023