Let's say that you are part of an organization that has just begun a new fiscal year. During the first month, there is a large emergency repair to a piece of equipment. The repair was very expensive and was more than the entire year's budget for repairs.
Do you feel like the budget should be amended so there is more money for budget during the remainder of the year? Or should the company just continue to show a negative variance for the rest of the year?© BrainMass Inc. brainmass.com October 1, 2020, 10:53 pm ad1c9bdddf
I would prefer that the company just continue showing the negative variance for the rest of the year. This ...
The solution analyzes budget amendments for a new organization within a fiscal year. Whether the budget should be amended or if it should continue to show negative variance for the rest of the year is determined.