Words / V / Business

variance

noun/ˈveəriəns/

B1CEFR level
20/100Rarity: fairly common
TechnicalRegister

The difference between a budgeted or standard amount and the actual amount recorded.

The adverse labour variance prompted a review of the assembly line's efficiency.

Topic: Accounting in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Accounting