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Variance analysis is a motley of numbers with no relationship with each other. Since all parts of the business are interrelated, these numbers are of
Variance analysis is a motley of numbers with no relationship with each other. Since all parts of the business are interrelated, these numbers are of limited value for management decision making.
Required:
Discuss this claim. In your discussion, remember to:
- Indicate whether you agree or disagree with the statement.
- Pay specific attention to individual variances and their relationships with other variances.
- Critically discuss implications of these relationships for their lack thereof on management decision making.
- Critically discuss the limitations of variance analysis.
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