Question: As a practicing accountant or manager, discuss whether, at month end, accountants must explain every variance that arises due to actual results deviating from budget.

As a practicing accountant or manager, discuss whether, at month end, accountants must explain every variance that arises due to actual results deviating from budget. Does the organization you work/worked for have guidelines on variance analysis? Please share your experience with respect to analyzing variances at month end.

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