Performance Measures Other than Variance Analysis

Related BrainMass Solutions

• Charter School Budget. Control Alternatives Breakeven

  Two pros and three cons of variance analysis are given and five examples of alternative measures are given.

• How can I make a difference between a favorable and unfavorable variance?

  (a) Favorable variance: When actual cost is less than standard cost the variance is favorable. (b) When actual cost is more than standard cost variance is unfavorable.

• Performance evaluation: standard vs. actual practices

  Variance analysis is used to conrol costs by computing the differences between standard costs and actual costs and identifying causes of those differences. Manager use flexible budgets to improve variance analysis.

• Budget Variances

  If the actual performance is better than the budgeted performance it is known favorable variance. It is denoted by letter F and if the actual performance is worse than the budgeted performance it is known as unfavorable or adverse variance.

• Charter school: static budget, breakeven, viable, benefits

  Variance analysis is useful because it highlights what was different from expectations. If revenues were less than expected or more than expected, it means that you know something new. If less per student, you misjudged the market place.

• Favorable and unfavorable variances

  (Standard Costing and Performance Measures for Today's Manufacturing Environment) The decision to investigate involves a cost-benefit analysis, as there are a number of investigative costs that are incurred.

• Unfavorable Performance

  For each of the above 2 reports, an unfavorable performance would mean a standard lower than actual.

• Planning and Controlling the Function of a Budget

  Variance analysis is a traditional tool used for planning and control. Comment on advantages and disadvantages of using this approach for performance evaluations. Do you have any suggestions for complementary or alternative performance measures?

• ANOVA Table Data

  The Analysis of Total Variance The first challenge when teaching ANOVA is why this procedure is called the analysis of variance when it typically assesses a comparison of the treatment means.