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Any easy way to memorise variances?

0 Votes
Any easy way to memorise variances?

Its confusing when it comes to variance. I make lots of mistakes n find difficult to keep in mind them. So if anyone of u have a suggestion how NOT to confuse among the variances.

May 25th 2014 AN ACCA USER 120 Points

5 Replies

+4 Votes

Try to understand the underlying concept rather than memorising,
For instance-
Price variance- You are comparing the price or material or wage rate, so this will be the varying factor.
Efficiency/ Usage variance- How much is actually used compared to how much should be used, so the amount of material or the wage rate will the varying factor.

Set up a proforma and when you do the exam kit, stick to it while you answer questions and it will come to you naturally.

Hope this helps.

May 26th 2014 AN ACCA USER 3,110 Points
+2 Votes
i like your comment
July 27th 2014 AN ACCA USER 360 Points
0 Votes
thank you so much ^^. your comment is very useful, because it's difficulty to remember. I hope I understand them.
August 21st 2014 AN ACCA USER 140 Points
0 Votes
Not bad an answer.
October 9th 2014 AN ACCA USER 280 Points
0 Votes
Hi - It is good that you should practice the past exam papers at least twice before exam.
November 27th 2014 AN ACCA USER 150 Points