Stating the Variance: “There was a variance of [amount/percentage] compared to the budget.”, “We observed a [positive/negative] variance in [category].”, “Actual results differed from the budget by [X amount/percent].”, “We went over/under budget by [amount].”, Explaining Reasons for the Variance: “The variance was due to [reason].”, “One reason for the increase/decrease is…”, “This can be attributed to…”, “This is largely a result of…”, “The main factor behind this variance is…”, “This overrun occurred because…”, “This shortfall was caused by…”, Clarifying Unexpected Results: “We had not anticipated this expense.”, “There were some unplanned/unexpected costs.”, “This was not included in the original forecast.”, “An error in projection led to…”, Comparing with Forecast or Previous Periods: “Compared to the forecast, we…”, “Relative to last year, our spending…”, “This quarter’s results show a [X%] deviation from plan.”, Summarizing or Concluding: “To summarize, the main causes of the variance are…”, “We are taking steps to address these deviations.”, “Moving forward, we’ll monitor this area more closely.”,

Key Phrases & Expressions: Explaining Variances

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