A performance report compares actual revenue and expenses with budgeted revenues and expenses.
More about performance report:
A performance report is a report on how something performed. Government organisations frequently generate them because they are obliged to demonstrate how public funds were used effectively and economically. The actual outcomes for a period are compared to the budgeted results produced by a flexible budget using a flexible budget performance report.
This report differs from a typical budget versus actual report in that actual sales data is input into the budget model, which subsequently adjusts the budgeted spending amounts using algorithms. With this strategy, budgeted costs are substantially more in line with the performance that a business really experiences.
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