The variance analysis cycle is a systematic process of comparing actual financial performance against planned or standard performance. It helps us understand the "why" behind the "what" when it comes to deviations between our financial plans and actual results.| Finance Alliance
A budget and an annual operating plan (AOP) are both financial tools used by organizations to manage their performance. aIt is important to note that a budget and an operating plan are not the same thing, but they are closely related.| Finance Alliance