Sampling Report On Variance Report Essay

Sampling Report On Variance Report Essay

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Variance Analysis
Writing a variance report is very important when reviewing a previous month’s budget when working in a variable hospital. The variance report allows for departments to compare the budget that was planned for to what the actual outcomes of the budget were. Using a variance report is vital when working in a variable hospital that updates its budget on a monthly basis. In order to write a detailed variance report for upper management, one should include the factors of the variance report that are of importance. I will be examining the items I would include in my variance report when my salaries are high and supplies are low as explained in the instructions. In this paper I will explain what factors I would include in my variance report as well as compare the relationships between variance reporting, interpreting variance report results, and actual results of performance.
In my variance report, the factors that I would include would be changes that happened during the course of the budget, determine if we should investigate those changes, determine why those changes happened, and how to prevent changes in the budget from happening again. Considering these factors can help managers create an effective budget and work out any kinks that may be within the budget. One main factor that I would consider when looking into what changes were made during the course of the budget is determining why salaries were higher in my monthly report. One possible reason could be that there are too many staff assigned to a shift when work volume is low. “Cost increases could have resulted from higher prices paid for inputs such as wage and salary” (Cleverley, Song, & Cleverley, 2011, pg. 392). The reason for higher salaries could be du...

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...ent budgets. Looking at historic budgets and comparing them to the results of the current budgets allows for managers to seek out the best system for their department’s budget and how to stay within that designated budget. There are different reason that may cause variance within a budget such as inputs and outputs. Departments may choose to investigate these variances if they feel it is cost effective to do so. There is a clear relationship between the variance report, interpreting variance report results, and the actual results of a department performance. This relationship enables managers to check their resources against results to make sure there department runs in a cost effective manner without going over budget. Staying within budget allows for department managers to run their area efficiently and be aware of any costs that may be used within the department.

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