Why Does not The Finance Sector Use DSGE Models? (Cont.)
The budgetary method is the sole duty of senior management staff and finance staff. Hence these members of employees should have correct and updated info effective budgeting procedures. Budgets are created for every financial year. The managers and employees involved will have to develop budgets for their personal locations of responsibility and then hand it over to the finance department. These draft budgets are then reviewed by higher management and later approved by a committee, or something related depending on the organisation.
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