Variance analysis

FX Variance Bridge

Separate underlying business performance from exchange-rate movements, with an auditable bridge to reported actuals.

Input data

Enter rates in whichever direction your source uses, then declare it below.

Metric nameMetric natureSets which direction counts as favourable.Reporting currencyNot listed? Choose Other and type any three-letter code.

Rate direction

DirectIndirect

Number format

1,234.561.234,56

Applies to what you type and to every figure on the page. Switching rewrites the numbers already in the table.

Which way round are your rates?

Directin use: Reporting currency per 1 local unit; 1 CAD = 0.8 USD
Indirect: Local currency per 1 reporting unit; 1 USD = 1.25 CAD

Enter your rates either way round — just make sure the matching button is selected.

Canada budget rate 0.8 reads as 1 CAD = 0.8 USD. Under the other direction the same number would mean 1 USD = 0.8 CAD.

FX variance inputs by entity. Rates are entered as USD per 1 local unit.
Entity	Local currency	Budget local	Actual local	Budget FXUSD per 1 local unit	Actual FXUSD per 1 local unit
				= 1 USD per USD	= 1 USD per USD
				= 1.25 CAD per USD	= 1.6129 CAD per USD
				= 0.769231 GBP per USD	= 1 GBP per USD
				= 0.909091 EUR per USD	= 1.16279 EUR per USD

Tip: paste a rectangular range from Excel or Sheets.

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Reported variance

+$6.80m

Underlying Revenue was $17.30m above budget at constant currency, but a $10.50m FX headwind partly offset it, leaving reported Revenue $6.80m above budget.

Operational variance: +$17.30m
FX impact: -$10.50m
Actual reported: $61.30m

FX waterfall

Budget to reported actual

Reconciled

Budget

$54.50m

Operational

+$17.30m

-$10.50m

Actual

$61.30m

Largest FX impacts

Ranked by absolute contribution to total FX movement

Entity	Actual rate applied	Operational	FX	FX share
France · EUR	1 EUR = 0.86 USD	+$4.40m	-$3.60m	34.3%
Canada · CAD	1 CAD = 0.62 USD	+$4.00m	-$3.60m	34.3%
United Kingdom · GBP	1 GBP = 1 USD	+$3.90m	-$3.30m	31.4%
United States · USD	1 USD = 1 USD	+$5.00m	$0.00m	0.0%

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Transparent by design

How this calculation works

Rates may be entered in either direction. Whichever you declare, the bridge restates them to reporting currency units per one local unit before calculating, so both readings of the same pair give the same answer. It calculates at full precision and rounds only for display.

Rate restatement

Local per reporting entry → 1 ÷ entered rate

Budget reported

Budget local currency × Budget FX rate

Operational variance

(Actual local − Budget local) × Budget FX rate

FX variance

Actual local currency × (Actual FX rate − Budget FX rate)

Actual reported

Actual local currency × Actual FX rate

This is one variance. Consilium is being built to explain the full reporting package.

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