Purchase Price Variance Accounting is a type of accounting that tracks and records the difference between the budgeted cost of an item purchased and what it actually cost. This technique helps businesses identify areas where they may be overspending, and find ways to reduce expenses. It can also help them identify goods and services which have been incorrectly valued or charged more than was expected. By keeping accurate and up-to-date purchase price variance records, businesses are able to make informed decisions about their spending and ensure that their resources are being used efficiently.