There are a few management essentials every restaurateur needs to know to run a successful business. Tracking your exact food and beverage costs, actual usage and sales—and analyzing the differences ...

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

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, ...

Business owners and their managers use budgets as a roadmap for allocating their firms' resources. Most businesses use budgets with fixed estimates for revenues and expenses, by category or ...

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 ...

This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along ...

Market size variance and market share variance are two ways of using market data to determine its effect on a company's profits. While the two terms are related, they calculate the effects of ...