Variances: meaning, definitions and examples

Used in legal or financial settings to describe differences from an expected standard or norm, often in business reports, finance, accounting, or statistics.

• The financial analyst noted several key variances in the quarterly report.
• The variance between the budgeted and actual costs was significant.

Used in general contexts to describe any distinctions or contrasts between two or more things.

• There are significant differences between the two proposals.
• The differences in their personalities made the conversation interesting.

Often used when highlighting inconsistencies or mismatches, especially in data, records, or statements. It may carry a slightly negative connotation, implying an error or problem.

• The auditor found discrepancies in the financial records.
• There are discrepancies between the inventory report and the actual stock.

Used to describe slight changes or deviations within a general scope, often related to changes over time or among different conditions.

• There are minor variations in the recipe depending on the region.
• Weather variations can significantly impact crop yields.

Use this in professional or statistical settings when referring to differences in data or measurements.

• The variances in the experimental results were analyzed to understand the underlying patterns.
• The financial report highlighted significant variances in quarterly earnings.

Use when pointing out inconsistencies, often in records, accounts, or reports.

• The auditor found discrepancies in the company's financial statements.
• There were discrepancies between the two versions of the story.

Apply when discussing conflicts or differences of opinion between people, often in social or professional interactions.

• There were several disagreements during the meeting regarding the project's direction.
• The siblings had frequent disagreements about household chores.

Best suited for highlighting differences in characteristics, traits, or features between objects, concepts, or people.

• The dissimilarities between the two artworks were immediately noticeable.
• Despite their dissimilarities, the two cultures share some common values.

Useful when discussing differences that occur in financial reports, statistics, or any kind of measurement. Can imply normal differences or acceptable ranges.

• The variances in the yearly budget were discussed during the meeting.
• There are variances in the temperature readings throughout the week.

Appropriate when referring to something that strays from a set path, standard, or norm. Often used in scientific, technical, or precise contexts.

• Any deviations from the expected results must be documented.
• There was a deviation from the flight plan due to weather conditions.

Best used when referring to inconsistencies or contradictions between different sets of data or information. Can often imply a problem or error that needs to be addressed.

• There are discrepancies in the inventory records that need to be reconciled.
• The report showed several discrepancies in the accounts.

Commonly used in quality control and compliance contexts to indicate failure to meet standards, specifications, or requirements. Usually carries a negative connotation.

• The inspection revealed multiple nonconformities in the manufacturing process.
• Nonconformities in the product design were identified during the quality audit.