Companies often use variance analyses to gain greater insight into their financial performance. Variance analysis is a process that identifies and explains differences in actual results compared to budgeted or past results. Typically thought of as more of a cost accounting tool for manufacturing companies, its usefulness extends to retail and service companies as well. This course examines the variance analysis process, its limitations and benefits, and how to effectively use it to understand and manage a company’s financial results regardless of industry.
Course Key Concepts: Budgeting and Forecasting, Variance Analysis, Favorable and Unfavorable Variances, Management by Exception, Financial Analysis, Financial Statements.
Learning Objectives
- Discover what variance analyses are and why companies prepare them.
- Identify the benefits and limitations of variance analysis.
- Identify the different types of variances.
- Recognize the connections between variances and business performance.
- Discover how to effectively use variance analyses to understand a company’s financial statements.
- 1. Corporate Planning, Budgeting, and Forecasting
- 2. Corporate Finance and the CFO as Facilitator for Strategic Management of the Company
- 3. Integrated Financial Models in Excel – Core Course
- 4. Corporate Performance Management
- 5. Venture Capital Valuation Analysis Method
- 6. Strategic Planning for the Nonprofit Organization
- 7. Corporate Real Estate Leases: Analysis of Key Business Elements
- 8. Module Two in Financial Intelligence: The Balance Sheet and Cash Flow Statements – Back to Basics Series
- 9. Interest Rate Swaps, Caps, and Floors
- 10. Operations and Manufacturing Cost Management
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Prerequisites
No advanced preparation or prerequisites are required for this course.