STX (a contraction of the word "sticks" but commonly called "S-T-X") is a sports equipment manufacturer based in Baltimore, Maryland. It is a subsidiary of Wm. T. Burnett & Co. STX makes lacrosse equipment, field hockey equipment, and golf putters, but its main business is in manufacturing of men's and women's lacrosse sticks and protective gear, including gloves, pads, and women's eyewear. The company was founded in 1970 by Richard B.C. Tucker, Sr. as STX Inc. STX's first stick was the double wall, synthetic lacrosse head, which was the first synthetic stick and the only type used to score goals in the first NCAA Men's Lacrosse Championship (1971).
STX is one of the largest manufacturers of lacrosse equipment, and in Maryland, part of the $18 million industry.[1]
In the mid-1970s, STX began branching out from lacrosse equipment with the development of golf putters, aided by ties with the chemical company DuPont.[2] In 2006, a Darrell Survey conducted on the PGA Tour determined that STX putters were considered among the top five.
for employee benefits. The Standard requires an enterprise to recognise:
(a) a liability when an employee has provided service in exchange for
employee benefits to be paid in the future; and
(b) an expense when the enterprise consumes the economic benefit
arising from service provided by an employee in exchange for
employee benefits.
1. This Standard should be applied by an employer in accounting for all
employee benefits, except employee share-based payments1.
2. This Standard does not deal with accounting and reporting by
employee benefit plans.
3. The employee benefits to which this Standard applies include those
provided:
(a) under formal plans or other formal agreements between an
enterprise and individual employees, groups of employees or their
representatives;
(b) under legislative requirements, or through industry arrangements,
whereby enterprises are required to contribute to state, industry
or other multi-employer plans; or
(c) by those informal practices that give rise to an obligation.
Informal practices give rise to an obligation where the enterprise
has no realistic alternative but to pay employee benefits. An
example of such an obligation is where a change in the
enterprise’s informal practices would cause unacceptable damage
to its relationship with employees.
4. Employee benefits include:
(a) short-term employee benefits, such as wages, salaries and social
security contributions (e.g., contribution to an insurance
company by an employer to pay for medical care of its
employees), paid annual leave, profit-sharing and bonuses (if
payable within twelve months of the end of the period) and nonmonetary
benefits (such as medical care, housing, cars and
free or subsidised goods or services) for current employees;
(b) post-employment benefits such as gratuity, pension, other
retirement benefits, post-employment life insurance and postemployment
medical care;
(c) other long-term employee benefits, including long-service leave
or sabbatical leave, jubilee or other long-service benefits, longterm
disability benefits and, if they are not payable wholly within
twelve months after the end of the period, profit-sharing, bonuses
and deferred compensation; and
(d) termination benefits.
Because each category identified in (a) to (d) above has different
characteristics, this Standard establishes separate requirements for each
category.
5. Employee benefits include benefits provided to either employees or
their spouses, children or other dependants and may be settled by
payments (or the provision of goods or services) made either:
Employee Benefits 165
(a) directly to the employees, to their spouses, children or other
dependants, or to their legal heirs or nominees; or
(b) to others, such as trusts, insurance companies.
6. An employee may provide services to an enterprise on a full-time,
part-time, permanent, casual or temporary basis. For the purpose of this
Standard, employees include whole-time directors and other management
personnel.
Short-term employee benefits include items such as:
(a) wages, salaries and social security contributions;
(b) short-term compensated absences (such as paid annual
leave) where the absences are expected to occur within twelve
months after the end of the period in which the employees
render the related employee service;
(c) profit-sharing and bonuses payable within twelve months after
the end of the period in which the employees render the related
service; and
(d) non-monetary benefits (such as medical care, housing, cars andfree or subsidised goods or services) for current employees.
STX is one of the largest manufacturers of lacrosse equipment, and in Maryland, part of the $18 million industry.[1]
In the mid-1970s, STX began branching out from lacrosse equipment with the development of golf putters, aided by ties with the chemical company DuPont.[2] In 2006, a Darrell Survey conducted on the PGA Tour determined that STX putters were considered among the top five.
for employee benefits. The Standard requires an enterprise to recognise:
(a) a liability when an employee has provided service in exchange for
employee benefits to be paid in the future; and
(b) an expense when the enterprise consumes the economic benefit
arising from service provided by an employee in exchange for
employee benefits.
1. This Standard should be applied by an employer in accounting for all
employee benefits, except employee share-based payments1.
2. This Standard does not deal with accounting and reporting by
employee benefit plans.
3. The employee benefits to which this Standard applies include those
provided:
(a) under formal plans or other formal agreements between an
enterprise and individual employees, groups of employees or their
representatives;
(b) under legislative requirements, or through industry arrangements,
whereby enterprises are required to contribute to state, industry
or other multi-employer plans; or
(c) by those informal practices that give rise to an obligation.
Informal practices give rise to an obligation where the enterprise
has no realistic alternative but to pay employee benefits. An
example of such an obligation is where a change in the
enterprise’s informal practices would cause unacceptable damage
to its relationship with employees.
4. Employee benefits include:
(a) short-term employee benefits, such as wages, salaries and social
security contributions (e.g., contribution to an insurance
company by an employer to pay for medical care of its
employees), paid annual leave, profit-sharing and bonuses (if
payable within twelve months of the end of the period) and nonmonetary
benefits (such as medical care, housing, cars and
free or subsidised goods or services) for current employees;
(b) post-employment benefits such as gratuity, pension, other
retirement benefits, post-employment life insurance and postemployment
medical care;
(c) other long-term employee benefits, including long-service leave
or sabbatical leave, jubilee or other long-service benefits, longterm
disability benefits and, if they are not payable wholly within
twelve months after the end of the period, profit-sharing, bonuses
and deferred compensation; and
(d) termination benefits.
Because each category identified in (a) to (d) above has different
characteristics, this Standard establishes separate requirements for each
category.
5. Employee benefits include benefits provided to either employees or
their spouses, children or other dependants and may be settled by
payments (or the provision of goods or services) made either:
Employee Benefits 165
(a) directly to the employees, to their spouses, children or other
dependants, or to their legal heirs or nominees; or
(b) to others, such as trusts, insurance companies.
6. An employee may provide services to an enterprise on a full-time,
part-time, permanent, casual or temporary basis. For the purpose of this
Standard, employees include whole-time directors and other management
personnel.
Short-term employee benefits include items such as:
(a) wages, salaries and social security contributions;
(b) short-term compensated absences (such as paid annual
leave) where the absences are expected to occur within twelve
months after the end of the period in which the employees
render the related employee service;
(c) profit-sharing and bonuses payable within twelve months after
the end of the period in which the employees render the related
service; and
(d) non-monetary benefits (such as medical care, housing, cars andfree or subsidised goods or services) for current employees.
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