Question
Prepare a budget versus actual variance analysis report for the end of March for the community services organisation Discoverer. They made an original assumption based
Prepare a budget versus actual variance analysis report for the end of March for the community services organisation Discoverer. They made an original assumption based on the respite managers undertaking that a new food expense would be year to date $900 with the actual amount spent $2,700 at the 31.3.20XX. Include food for this month separately on the report for $300 actual and only $100 budgeted. Include whether the amount is favourable (F) or unfavourable (U), show the percentage (%).
Discoverer Co.
Variance Analysis Report
31.3.20XX
Account | Actual | Budget | Assumptions | Variance | % |
Previous Year to date | |||||
Respite Food | |||||
Current month |
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2
Prepare a request for budget revision form to accompany the variance report. Note that the request is due to a new program which had an original incorrect assumption.
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3
What role does the governance board play in regard to the budget? (5080 words)
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