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Home > QFINANCE Dictionary > Definition of variance

Definition of


  • 1. General Management

    difference between actual and predicted performance a measure of the difference between actual performance and forecast, or standard, performance

  • 2. Accounting

    difference between planned and actual cost the difference between a planned, budgeted, or standard cost and the actual cost incurred. The same comparisons may be made for revenues.

Definitions of ’variance’ and meaning of ’variance’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’variance’ and other financial terms with our online QFINANCE Financial Dictionary.

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