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This week I started learning about Planning and Budgeting in Healthcare Finance. I understand the formulas: Revenue Variance = Actual Revenue - Budgeted Revenue Expense

This week I started learning about Planning and Budgeting in Healthcare Finance.

I understand the formulas: Revenue Variance = Actual Revenue - Budgeted Revenue

Expense Variance = Actual Expense - Budgeted Expense

My question is, when you are looking at a Simple Budget Variance Analysis of a business for the fiscal year, how do you decide what information you used to plug into the equations?

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