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How are budget variances reported in workplace

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Reference no: EM132798484

1. An establishment currently budgets $2,500 each month for printing and stationery. You want to increase this amount by 3%. How much will you allocate in the new budget?

2. An operational plan details what you want to happen. However, things don't always go to plan. List five examples of information you might include in a contingency plan to ensure you achieve the organisation's objectives.

3. Part of the budgeting process involves monitoring results and identifying variances.

a. How are budget variances reported in your workplace or training environment?

b. In what situations is it favourable to be above budget?

c. What should you do when you identify an area of underperformance?

Reference no: EM132798484

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