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PRELIMINARY VARIANCE ANALYSIS HEARING DATE: July 15, 2015, DUE DATE: June 15, 2015, Distributed: May 22, 2015 V96 (2015) APPLICANT: Len Pagan, Jr. PETITION No.: V96 PHONE: 7705097958 DATE OF HEARING:
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How to fill out preliminary variance analysis

How to fill out preliminary variance analysis:
01
Identify the purpose of the preliminary variance analysis. Determine what specific aspects of the project or financial performance you want to analyze and evaluate.
02
Gather the necessary data and information. This includes financial statements, budget reports, expense records, and any other relevant data sources.
03
Compare the actual results with the budgeted or expected figures. Calculate the variance by subtracting the budgeted amounts from the actual amounts. This will help identify any discrepancies or deviations from the planned targets.
04
Analyze and interpret the variances. Look for patterns, trends, or significant differences between the actual and budgeted figures. Determine the reasons behind these variances and assess their impact on the overall performance.
05
Prepare a comprehensive report summarizing the findings. Clearly present the variances, their causes, and their consequences. Use graphs, charts, and relevant data to support your analysis.
06
Make recommendations for corrective actions or improvements. Based on the variance analysis, identify areas where adjustments or changes are needed to address the discrepancies and improve future performance.
Who needs preliminary variance analysis:
01
Project managers: Preliminary variance analysis helps project managers assess the performance and progress of a project. By identifying variances between planned and actual results, project managers can take corrective actions to ensure the project stays on track and meets its objectives.
02
Financial managers: Financial managers use preliminary variance analysis to monitor and evaluate the financial performance of an organization. By analyzing the differences between actual and budgeted figures, financial managers can make informed decisions regarding resource allocation, cost control, and financial planning.
03
Business owners: Business owners can benefit from preliminary variance analysis to understand the financial health and profitability of their business. By analyzing the variances, they can identify areas of inefficiencies, cost overruns, or revenue shortfalls and take appropriate measures to improve overall performance.
04
Investors and stakeholders: Investors and stakeholders rely on preliminary variance analysis to assess the financial stability and growth potential of a company. By understanding the variances and the reasons behind them, investors can make informed decisions regarding their investments, and stakeholders can evaluate the company's performance and potential risks.
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