Business GCSE
Variance Analysis
What Variance Analysis means in Business GCSE, as defined for OCR.
Definition of Variance Analysis
Check what you remember
Read the wording for your board, then hide it and explain Variance Analysis in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: OCR
The process of comparing actual financial outcomes with the budgeted figures to identify differences (variances).
Topics that use Variance Analysis
- The role of the finance function (OCR GCSE)
Related terms
Using Variance Analysis in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Business questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Business GCSE termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge