Variance Analysis Monthly Frequency with Annual Balance Comparison

Summary

Variance Analysis Monthly Frequency with Annual Balance Comparison

Content

Hello everyone

One of my customers is using ARCS Variance Analysis for their Balance Sheet accounts. They were setup with monthly variance i.e. Jun-20 (current period) balance against May-20 (prior period) balance which is treated as variance period. These work just fine.

Lately, they have come up with a new requirement for Variance Analysis for their Income Statement accounts. These are not exactly the same as Balance Sheet ones. The requirement was to set them up in such a way that the variance period should point to same month last year i.e. Jun-20 (current period) balance against Jun-19 (prior year same period) balance which is treated as variance period.