Business GCSE
Variance Analysis
What Variance Analysis means in Business GCSE, as defined for OCR.
Definition of Variance Analysis
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
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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