The Budget vs Actual Report Template represents a comparison of planned operating expenses to the actual expenses incurred for the period. The objective is to highlight results against plan, percentages and variances and thus provide a basis for management decisions. The Budget vs Actual Report Template is prepared and maintained by the Accounting department on a monthly basis.
G&A104-5 BUDGET VS ACTUAL REPORT should be divided into three main components: 1) Current period budget, actual and variance totals, 2) a description of the major income and expense account classifications similar to the financial statements, and 3) the Current year-to-date budget, actual, and variance totals. The percent column should be used to list each line as a percentage of total sales. Alternatively, it can also represent the percentage variance or change from last period.