Actuals

Definition:

Actuals are the actual values or outcomes that have occurred or been realized. They are the actual figures, data, or measurements recorded or observed from a particular source or set of operations.

Examples:

• Financial actuals: Revenue, expenses, assets, liabilities, and other financial data recorded in a company’s financial statements.
• Sales actuals: Number of units sold, sales revenue, and customer information.
• Inventory actuals: Quantity of inventory on hand, stock levels, and cost of goods sold.
• Manufacturing actuals: Number of units produced, production costs, and quality control data.
• Operational actuals: Time spent on tasks, customer service metrics, and equipment performance.

Uses:

• Budgeting: Actuals are used to compare actual performance against budgeted goals and to assess whether adjustments are necessary.
• Performance evaluation: Actuals are used to evaluate the performance of individuals and teams.
• Reporting: Actuals are used to report on performance, progress, and trends.
• Planning: Actuals can be used to forecast future performance and to inform planning decisions.
• Control: Actuals are used to identify areas where control is needed and to take corrective actions.

Key points:

• Actuals are actual values or outcomes.
• Actuals are used for budgeting, performance evaluation, reporting, planning, and control.
• Actuals can be financial or operational data.
• Actuals are used to compare actual performance against budgeted goals.
• Actuals can be used to identify areas for improvement.