Measuring your mission
Article Abstract:
Organizations without measurable mission statements are not aware of the direction of their businesses and are thus prone to head the wrong way. Unfortunately they realize it only when it is too late and they have been damaged by higher costs or even bankruptcy. In developing a mission statement, a company should form a mission-writing committee consisting of management and non-management personnel as well as external parties. This group is responsible for determining what mission objectives the company should strive for and how to measure these accomplishments. A writing subcommittee may be formed to make a rough draft of the mission statement conceived by the mission-writing committee. The mission statement should be measurable, understandable, relevant and reliable.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1996
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It's not your father's management accounting!
Article Abstract:
The field of management accounting has changed dramatically over the years. Technological innovations have made information more accessible, cut the amount of time needed to close the books, and automated various functions. Other trends transforming this field include management accounting's increasing involvement in business decision-making and in cross-functional teams, and the growing expectations for management accountants to possess a broader business perspective as well as solid technical and interpersonal skills. In this continuously changing environment, management accountants are compelled to abandon many of their traditional functions and to assume the new roles of analysts and business partners.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1997
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