Page 15 - F2 - MA Integrated Workbook STUDENT 2018-19

Accounting for management

Mission statement

The mission statement is a statement in writing that describes the
overall aims of an organisation, that is, what it is trying to

accomplish. It sets out the whole purpose of the business

Mission statements will have some or all of the following characteristics:

 Usually a brief statement of no more than a page in length

 Very general statement of entity culture

 States the aims of the organisation

 States the business areas in which the organisation intends to operate

 Open-ended (not in quantifiable terms)

 Does not include commercial terms, such as profit

 Not time-assigned

 Forms a basis of communication to the people inside the organisation and to
people outside the organisation

 Used to formulate goal statements, objectives and short term targets

 Guides the direction of the entity's strategy and as such is part of management
information.

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