Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

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 ...

Even the best budgets rarely turn out exactly the way that planners expect. Whenever you're planning in advance for a period of time, you'll inevitably make some mistakes in your estimates, and it's ...

Many finance teams treat variance analysis as a box-checking exercise: Set a threshold, flag the swing, move on. That’s why so many controllers spend days chasing noise while risks slip through. It’s ...

A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict how the year will go. The differences ...

It's that time of the year when finance professionals are having nightmares about the accuracy of their spreadsheet-based budgeting Every year – or sometimes more frequently – we hit the season every ...