Variance Analysis Template

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Variance Analysis Template

This variance analysis template guides you through the process of variance analysis using the column method.

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Variance analysis can be summarized as an analysis of the difference between planned and actual numbers. The sum of all variances gives information on the over-applied or under-applied values for the company’s reporting period. For each individual variance, companies often like to determine their favorability by comparing actual costs and standard costs and applying logic.

When standards are compared to actual performance numbers, the difference is what we call a “variance.” Variances are computed for both the price and quantity of materials, labor, and variable overhead, and they are reported to management. However, not all variances are important. Management should only pay attention to those that are unusual or particularly significant. Often, by analyzing these variances, companies use the information to put the blame on someone so he/she takes responsibility for his/her actions. The role of variance analysis, however, is more about searching for the problem so that it can be fixed and to improve overall company performance.

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Analyst Certification FMVA® Program

Below is a break down of subject weightings in the FMVA® financial analyst program. As you can see there is a heavy focus on financial modeling, finance, Excel, business valuation, budgeting/forecasting, PowerPoint presentations, accounting and business strategy.


Financial Analyst certification curriculum


A well rounded financial analyst possesses all of the above skills!


Additional Questions & Answers

CFI is the global institution behind the financial modeling and valuation analyst FMVA® Designation. CFI is on a mission to enable anyone to be a great financial analyst and have a great career path. In order to help you advance your career, CFI has compiled many resources to assist you along the path.

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