Answer to Question #79351 in Finance for Hugh Heron

Question #79351
How might the materiality threshold level set for negative deviations differ between a small and large business?


Why are the variances from budgets and forecasts important to know?
1
Expert's answer
2018-08-06T01:15:09-0400
The materiality threshold level set for negative deviations for a small business will be lower than for a large business.
A budget variance is a periodic measure used by governments, corporations or individuals to quantify the difference between budgeted and actual figures for a particular accounting category.
Source:
https://www.investopedia.com/terms/b/budget-variance.asp

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