# Definition of 'variance'

noun

1.

2.

our variance on this matter should not affect our friendship

3. at variance

4. statistics

a measure of dispersion obtained by taking the mean of the squared deviations of the observed values from their mean in a frequency distribution

5.

a difference or discrepancy between two steps in a legal proceeding, esp between a statement in a pleading and the evidence given to support it

6.

Collins English Dictionary. Copyright © HarperCollins Publishers

noun

2.

degree of change or difference; divergence; discrepancy

3.

official permission to bypass regulations; specif., permission to make nonconforming use of zoned property

4.

5. Accounting

the difference between the actual costs of production and the standard or expected costs

6. Law

8. Statistics

the square of the standard deviation

**Idioms:**

Webster’s New World College Dictionary, 4th Edition. Copyright © 2010 by
Houghton Mifflin Harcourt. All rights reserved.

Word Frequency

## variance in Accounting

(vɛəriəns)Word forms: (regular plural) variances

noun (count) (noncount)

(Accounting: Management)

Variance is the difference between an actual cost and a budgeted or standard cost.

The purpose of variance analysis is to provide practical pointers to the causes of off-standard performance
so that management can improve operations. Favorable or positive variances occur when revenue is higher, or cost lower, than anticipated or planned, leading
to a better profit result. Variance is the difference between an actual cost and a budgeted or standard cost.

Collins English Dictionary. Copyright © HarperCollins Publishers

## Example sentences containing 'variance'

These examples have been automatically selected and may contain sensitive content.
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The usual measure of this spread is the standard deviation or variance. Principles of Corporate Finance (1991)The standard statistical measures of spread are variance and standard deviation. Principles of Corporate Finance (1991)This idealistic concept is at variance with reality. Understanding Cancer (1987)Our first step was to take a player's performance and measure the variance. Times, Sunday Times (2010)One is the average or "expected" return; the other is the variance or standard deviation. Principles of Corporate Finance (1991)It involves no skill, a high variance of returns and a negative expected value: you can expect not to recoup the cost of the ticket. Times, Sunday Times (2016)

## Word Lists

## Trends of 'variance'

In Common Usage. variance is one of the 10000 most commonly used words in the Collins dictionary

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## Nearby words of 'variance'

## Related Terms of 'variance'

## Source

Definition of

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