Income Statement

Income Statement

A mission statement primarily establishes an organization’s purpose for existing. It also states an organization’s scope of operations and focus, including its limitations. Having a mission statement keeps the organization and its employees focused on the most important things contributing to the growth and success of the organization.

A mission statement is usually confused with a vision statement probably because they are both crucial to the attainment of an organization’s smart goals. However in the simplest sense, a mission statement focuses more on the present goals while at the same time looking towards the future, while a vision statement projects the future through establishing the organization’s goals and objective statement.

Income Statement Example

income statement template
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Income Statement Monthly Example

income statement monthly template
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Quarterly Income Statement

quarterly income statement template
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Importance of a Mission Statement

A mission statement is what separates the important matters to unimportant ones, keeping an organization ‘s value statement towards reaching an ultimate goal. A mission statement gives the organization and its employees a sense of purpose. It also gives an overview of the company’s overall function including the products you offer, the people involved in your organization (e.g. customers, employees, competitors, etc.), among others.

As it sets present goals, it also sets a direction towards achieving such goals in order for the organization to improve and grow. As an organization grows, a mission statement grows with it, and may incur minimal changes from time to time.

Advantages and Disadvantages of a Mission Statement

Having a mission statement can be advantageous in several ways. Here are some of such advantages:

A mission statement can also have certain advantages with it. Here are some:

How to Write a Mission Statement

Despite its disadvantages, one cannot deny that many successful organizations out there have a mission statement to guide them along the way. As mentioned, writing a mission statement will require time, effort, and resources. So to make the process less tiring and more fulfilling, here are a few points for consideration:

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