Workpapers - change Variance to Change or Movement (it is not a variance, it is a movement from one year to the next, which is expected)
It's bad enough that new Workpapers only show "Variance" for CY vs LY rather than CY vs supporting Workpapers (the whole point of workpapers).
This is not a Variance... it is a Change or Movement.
Variance is defined as:
- the fact or quality of being different, divergent, or inconsistent
- the state or fact of disagreeing or quarrelling
- a discrepancy between two statements or documents
You'll notice that these all suggest a variance is not good (it's a difference of facts, quality, disagreement, discrepancy).
In the accounting world we try to solve or explain variances. A change or movement from last year/period is completely expected.. a variance, is not.
The terminology is very poor.
Sam Gray
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