Budgeting is how a business plans for future production cycles. An initial budget - known as a "static" budget - is a necessary planning tool; creating a second, flexible budget allows a business to ...

Budgeting is not an exact science: You can't predict with absolute precision the amount you will bring in or spend until it happens. However, comparing what you thought would occur with what actually ...

Discover how to calculate variable overhead spending variance, its impact on costs, and examples of favorable vs. unfavorable variances in business operations.

Understanding how to measure a project's success allows you to make more informed decisions and establish strategic, measurable business goals. Most project management metrics fall into one of four ...

Have you ever found yourself staring at rows and rows of budget and actual data, wondering how to make sense of it all? You’re not alone. Budget versus actual analysis is one of those tasks that feels ...

Discover how efficiency variance reveals the gap between expected and actual inputs in production and its impact on labor, materials, and costs.

Nothing about starting your own company is easy. Thankfully, when it’s just you and your partner, it’s fairly simple to monitor your spending and keep your budget in check. You’ll reach a point though ...

A report by Thunder Bay city administration on how much COVID-19 could impact the city's 2020 budget was received by councillors - with some wanting to know what's on the chopping block to try and ...