BUDGET VARIANCE ANALYSIS PROCESS

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[ ] Fetch Actual Expenses: Retrieve all expense entries from the Budget vs Actual data model for the current period.
[ ] Fetch Budgeted Amounts: Retrieve all planned budget entries from the Budget data model for the current period.
[ ] Total Actual Expenses: Sum the 'amount' property of all retrieved Actual Expense entries.
[ ] Total Budgeted Amount: Sum the 'amount' property of all retrieved Budget entries.
[ ] Calculate Variance: Subtract Total Actual Expenses from Total Budgeted Amount to find the variance value.
[ ] Calculate Variance Percentage: Divide the Variance by the Total Budgeted Amount and multiply by 100 to get the percentage deviation.
[ ] Assign Variance Investigation Task: Create a task for the Finance Manager if the variance percentage exceeds a predefined threshold (e.g., 10%).
[ ] Create Variance Report Entry: Create a new entry in the 'Monthly Variance Reports' data model containing the calculated totals and variance.
[ ] Update Budget Status: Update the 'Last Analyzed' date and 'Status' field in the Budget data model.
[ ] Notify Department Heads: Send an email to all Department Heads with the summary of the variance analysis results.
[ ] Generate Visual Variance Report: Generate a visual PDF report based on the data in the Variance Report entry.

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