Answer to Question #79336 in Finance for Hugh Heron

Question

What is the relationship between variance analysis reports and system integrity?

Why should backup schedules be reviewed and why is undertaking such a practice important?

Explain the relevance of Australian Standard: Record Management to maintaining management accounting information.

Answer 1

Variance analysis is the quantitative investigation of the difference between actual and planned behavior. This analysis is used to maintain control over a business. System integrity is state of a system where it is performing its intended functions without being degraded or impaired by changes or disruptions in its internal or external environments.
The best way to ensure that backups are done in a consistent and timely manner is to establish a backup schedule.
This standard establishes the requirements for effective records and information management. It is designed to assist public offices discharge their obligations.
Sources:
1) https://www.businessdictionary.com/definition/system-integrity.html
2) https://www.records.nsw.gov.au/recordkeeping/rules/standards/records-management