Smith and Wesson one of the world’s leading manufacturers of firearms was founded in 1852 by Horace Smith and Daniel B. Wesson (Form 10-K Annual Report p.1, 2011). Over the next 160 years the company would be bought and sold several times starting with Mr. Wesson purchasing Mr. Smith’s interest in 1873. The Wesson family sold Smith & Wesson Corp. in 1965 and the company would change hands 4 more times between 1984 and its final resting place as Smith & Wesson Holding Company in 2001.
They are one of the largest manufacturers of handguns and handcuffs in the USA and the largest US exporter of handguns. They have a plant in Springfield Massachusetts, Houlton Maine and Rochester NY, as well as a plant in Franklin Tennessee producing a large selection of hand guns, modern sporting rifles, hunting rifles, black powder firearms, handcuffs, firearm related products and accessories (Form 10-K Annual Report p.1, 2011)
Smith & Wesson Holding Company started trading their common stock on the American Stock Exchange in November 2002 under the symbol “SWB” and on the NASDAQ Global Select Market in July 2006 under the symbol “SWHC” (10-K Annual Report P.35, 2011). There are 20,000,000 shares of preferred stock at $.001 par value authorized, no shares issued or outstanding. Common stock at $.001 par value 100,000,000 shares authorized of which 65,710,531 shares are issued, 64,510,531 shares were outstanding, 185,802,000 shares paid in capital, and 1,200,000 of treasury stock as of 4/30/11 their year end. (10-K Annual Report p.F-3, 2011)
Smith & Wesson has a Stock Option Plan (SOP) for its employees as well as stock based compensation. Shares issued under the SOP were 1,062,000 and stock based compensation 1,680,000. (10-K Annual Rep...
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Reimers, Jane L. (2003). Financial Accounting A Business Process Application. Upper Saddle River, New Jersey, Prentice Hall.
The company was founded in Southport, Connecticut in 1949 by Alexander McCormick Sturm and William B. Ruger. In 1969 Sturm, Ruger & Company incorporated under the laws of the state of Delaware. It joined the New York Stock Exchange in 1990.
One of Colt's best inventions was the revolving cylinder which led to his company to expand to its full potential. During the 1830’s Samuel Colt was a sailor for the ship Carlo where he got the idea for the revolving cylinder from the wheel to turn the boat(Kirkland 6). In 1868 to 1871 Colt made the Thuer it came in a 44 and 36 cal that came in a metallic cartridge that did not infringe on Smith and Wesson’s patent(Lee). Like every good inventor you have mistakes but Colts first handgun that he made blew up in his hand. But that mistake gave him the chance to improve and expand his design for the modern day revolver(Kirkland 6). In 1836 Samuel Colt produced the first working and patented revolver(Kirkland 9-11). In 1855 elisha K. Root was hired by Samuel Colt to reengineer his revolving rifles. She made the rifle in to a solid frame and she made the Root Model 1855(Austerman). Another gun that Samuel Colt made was the dragoon it came in a .36 ,.34 ,.31 ,and a .28 caliber pistol most of these were sold to civilians in 1850’s(Lee). Lastly Samuel Colt named this pistol the Dragoon because for centuries men who attacked ...
The rifle was manufactured by the Winchester Repeating Arms Company, which was once the New Haven Arms Company and before that the Volcanic Repeating Arms Company. One has to wonder, why so many name changes? The Winchester Repeating Arms Company would not have been successful without Oliver Fisher Winchester. Originally Winchester gained some wealth in producing dress shirts in a fa...
[1] Noreen, Eric W., Brewer Peter C., et al., Managerial Accounting for Managers, Second Edition, McGraw-Hill/Irwin, New York, NY, 2011.
Donal E. Kieso, Wegandt J. Jerry, Warfield D. Terry. (2012). Intermediate Accounting. Hoboken, NJ: Wiley.
The automobile industry began with Henry Ford’s production of the Model T in the early 1900’s. With the creation of the assembly line, cars became cheaper and quicker to produce, thus making them affordable for many people. There were originally 500 auto manufacturers. By 1908, there were only 200; and in 1917 only 23 remained. This vast reduction was due to large amounts of consolidation within the industry.
Financial Accounting Standards Board. (2006, July 6). Conceptual Framework for Financial Reporting. Financial Accounting Series , 1-55.
The sale of firearms is an incredibly confusing process. Shotguns, rifles, and handguns all have individual registration and guidelines of sale. Althoug...
in1873. Colt made a lot of pistols in his lifetime. Colt will always be remembered for his
[4] Colin Drury, Management and Costing Accounting, (7th edition), Chapter 3, Cost Assignment, p. 54-59
Remington quickly grew and was seen as a leading firearm which then expanded its firearm goods by creating the first hammerless auto-loading shotgun, as well as many their own repeating firearms. As the array of firearms created by Remington grew, more interest was put into the company, and therefore in 1865 it was formed into a stock company.
Plant/R&D locations: To keep costs low, the company operated in different geographical locations like China (manufacturing) and India (R&D).
Schroeder, Richard G., Myrtle Clark, and Jack M. Cathey. Financial Accounting Theory and Analysis: Text and Cases. 10th ed. Hoboken, NJ: John Wiley & Sons, 2009. 97. Print.