what is difference between planned amounts and budgeted amounts
Variance analysis, in budgeting (or management accounting in general), is a tool of budgetary control by evaluation of performance by means of variances between budgeted amount, planned amount or standard amount and the actual amount incurred/sold.Variance analysis can be carried out for both costs and revenues.he concept of variance is intrinsically connected with planned and actual results and effects of the difference between those two on the performance of the entity or company.