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mpoustina
Please tell me how can I prepare Varience reports from April 2006 till Nov 2006 Regards Poustina
From India, Warangal
leolingham2000
260

I HAVE WORKED OUT A SAMPLE FORMAT

FOR THIS EXERCISE.

================================================== ====

COMPENSATION / BENEFITS ELEMENTS

The following components make up compensation / BENEFITS ELEMENTS

YOU CAN ADD/ DELETE AS PER YOUR CO. REQUIREMENTS.

================================================== ====================

BASE SALARIES

SALES INCENTIVES

ANNUAL BONUS

STAFF INCENTIVES

COMPANYWIDE BENEFITS

MEDICAL PLAN

DENTAL PLAN

LONG TERM DISABILITY PLAN

LIFE INSURANCE PLAN

STOCK OPTION PLAN

EXECUTIVE PERQUISITE PLAN

ACCIDENT / DEATH PAYMENT

PENSION PLAN TUAL

=============================================

SAMPLE EXERCISE OF

VARIANCE REPORT

=============================================

draw five columns

col 1 = name of the elements

col 2= april to nov '06 budget for the element.

col 3 =april to nov '06 actual spent for the year for the element

col 4 = variance= difference between col 2 and col 3 in rupees

col 5 = variance = difference in percentage

col 6 = comments

col 7= action plan on variance.

====================================

an exercise

col 1 = name of the elements= base salaries

col 2= april to nov '06 budget for the element = 10 mill. rupees

col 3 =actual spent for april to nov '06 for the element = 11 mill rupees

col 4 = variance= difference between col 2 and col 3 in dollars = 1 mill rupees

col 5 = variance = difference in percentage = +10%

col 6 = comments = over spent on salaries, due to increase in recruitment

col 7= action plan on variance.= reduce the cost of recruitment.

====================================

NOW FOR THE ACTUAL REPORT,

YOU CAN DEVELOP AN EXCEL FORMAT

AND SELECT THE ELEMENTS, AS PER YOUR

COMPANY POLICY

AND COMPLETE THE COLUMNS AS REQUIRED.

THIS IS YOUR VARIANCE REPORT.

regards

LEO LINGHAM

From India, Mumbai
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