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Socrates Argument Of Wisdom - 1673 Words

Life is full of contradictions, weather it is a situation where one person is happy but their friend is not or by meeting a good politician they are there. Contradictions are littered throughout life but are most usually sought out during lies and courtroom appearances. Contradictions are the way one discredits a defense or the way one undermines an argument, and sometimes they just bring things into question. A specific situation is Socrates’ defense in The Apology. One could assume that the gentlemen of the law were closely examining and judging Socrates’ words and statements, but possibly more than the gentlemen, philosophers examine Socrates’ words through the text. Many thinkers have found great and small contradictions throughout, one concerning Socrates’ statements of wisdom. In The Apology Socrates states that he has no claim to wisdom, yet he appears to have human wisdom. Wisdom is a very abstract term for a great deal of people and for the purpos e of this paper it is important to turn to Socrates himself to understand. There a few passages which can be referred to obtain a define idea of what wisdom is to Socrates. In passage 21d Socrates describes a resulting thought about wisdom on his journey to prove that he is not wise, â€Å"Well, I am certainly wiser than this man. It is only too likely that neither of us has any knowledge to boast of, but he thinks that he knows something which he does not know, whereas I am quite conscious of my ignorance. At any rate it seemsShow MoreRelatedThe Apology by Socrates1099 Words   |  4 PagesApology, in Socrates day, stood for defense rather than seeking forgiveness, as it is now commonly used. To Socrates, it did not matter to him whether or not he was persecuted, as long as he did what was correct. Socrates whole philosophy is that to know knowledge is to have wisdom, and to have wisdom is to know oneself. 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Socrates says â€Å"If you ask me what kind of wisdom, I reply, wisdom such as may perhaps be attained by man, for to that extent I am inclined to believe that I am wise; Whereas the persons of whom I was speaking have aRead MorePlato s Euthyphro And Apology893 Words   |  4 Pagesconclusions. Plato’s Euthyphro and Apology, to no surprise, highlight one of such debate: the human characteristics of wisdom. Though Plato was one of the earliest philosophers, the topic of wisdom is still debated by modern philosophers today, contemplating questions such as â€Å"What are the classifications of ‘wisdom’?† According to Plato’s two dialogues, the characteristics of wisdom have a strong correlation with the characteristics of â€Å"being a good person†. This concept highlights the values of virtueRead MoreSocrates Virtuous Soul Analysis1234 Words   |  5 Pages philosophy study will argue against Socrates’ â€Å"virtuous soul† as the motivation for just acts in The Republic. 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Socrates asks Agathon a series of questions - which leads to Agathon being thoroughlyRead MoreEssay about Socrates’ Trial Defense in Terms of His Values1414 Words   |  6 PagesSocrates’ Trial Defense in Terms of His Values In his Apology, Plato recounted the trial that led to the execution of his friend and mentor, Socrates. The account revealed that values of Socrates’ accusers and his own fundamentally differed, and that they had been angered because he tried to prove that they had misplaced theirs. Those differences created conflict between the two parties that culminated in his trial. With the understanding that a jury condemned Socrates to deathRead MorePlato Is One Of The Greatest And Well Known Philosophers1388 Words   |  6 PagesBorn around 428 BC, Plato grew up in Greece learning from Socrates, another well known philosopher. Later in life, Plato taught Aristotle who was also a well known philosopher. His works of writing and thoughts about life have significantly impacted the Western culture in numerous ways. In selected readings of Plato, he seems to place importance on wisdom, and how to attain wisdom. Plato argues that in order to attain pure knowledge, or wisdom, one must â€Å"escape from the body† and not fear the thoughtRead MoreArguments On Death And How The Human Condition1197 Words   |  5 PagesArguments on Death and How They Relate to the Human Condition In Plato’s â€Å"Five Dialogues†, Socrates argues what he believes death is and what it will bring, and then urges humans to not fear death and perhaps even embrace it. Though the arguments both aim to dispel the fear of death, only one, the Phaedo, truly provides insight into the meaning of death, the preparation for it, and goes on to expound the human condition. The Phaedo does this in a detailed way by offering a strong argument that

Financial Structure Of The Company

Question: Describe about the Financial Structure Of The Company for Analysis? Answer: Introduction The financial statement is a statement that represents the detail Financial Structure Of The Company. The information that is derived from the financial report is helpful for all the stakeholders and other people who have some interest in the organization. Users of the information can be segregated into two categories- external users and the internal users. The external users include potential investors, government, and suppliers customer. On the other hand, internal users are the managers, employees, and shareholders. There are obviously some other users, but here only six main users are taken into the consideration. Two companies are selected here the Next Plc and the Debenhams Plc. Both are belonging to the retail sectors and listed on the London Stock Exchange. The main objective of conducting this study is to make a detailed analysis of the financial statement of both the companies and to understand how the financial statement is helping the users to take their investment decis ions (Lunt, 2008). Company Overview Debenhams Plc was introduced in the year 1813. There was already an existing company created by William Clark, and the new company was formed when William Debenhams invested in that company. This company is now operating almost 27 countries covering 240 cities around the world. Some of their competitors are Tesco, Sainsbury, and Wal-Mart, etc. They provide an exclusive collection of their brands and ensure a better customer satisfaction (McLeod, MacDonell Doolin, 2007). Next plc is one of the reputed companies among the group of plcs belonging to the retail sector. The company was incorporated in the year 1982. The company is having a large collection of women wear and accessories. They have supplied the official clothing to the Paralympic and Olympic games in 2012. Currently, they are providing services to almost four million consumers, and their business is mainly done through online (Lynch Gregor, 2004) : (Nextplc.co.uk, 2012). Use of financial information Before conducting the financial analysis, some relevant information is execrated and calculated from the annual reports of both the companies and the overall calculation is based on the ratios. The useful ratios are presented below: Ratio analysis ( all in ) Debenhams Plc Next Plc 2014 2013 2012 2014 2013 2012 Liquidity Ratios Current assets 486.3 470.5 459.5 1468.1 1207.8 1139.9 Current liabilities 758 741.9 727 834.5 816 742.4 Current Ratio 0.641556728 0.634182504 0.6320495 1.75925704 1.480147059 1.535425647 Quick assets 140.6 112.6 127.2 1082.5 876 768 Quick Liabilities 534.2 506 563.6 831.9 810.6 734.8 Quick Ratio 0.263197304 0.222529644 0.225692 1.30123813 1.080680977 1.045182363 Efficiency ratio Receivables 74.7 78.3 75.4 808 718.1 699.1 Revenue 2312.7 2282.2 2229.8 3740 3562 3441.1 Receivable turnover 30.95983936 29.14687101 29.572944 4.628712871 4.960311934 4.922185667 Receivable collection period 11.78946686 12.52278503 12.342363 78.85561497 73.58408198 74.15404958 Inventories 345.7 357.9 332.3 385.6 331.8 371.9 Cost of goods sold 2033.4 1982.6 1927.5 2499.9 2437 2395.8 Inventory turnover 5.881978594 5.539536183 5.8004815 6.483143154 7.344786016 6.442054316 Inventory Turnover period 62.05394905 65.88999294 62.925811 56.29985199 49.69511695 56.65894482 payables 529.3 545.8 525.4 594 537.2 545 Cost of goods sold 2033.4 1982.6 1927.5 2499.9 2437 2395.8 Payable payment turnover 3.841677688 3.632466105 3.6686334 4.208585859 4.53648548 4.395963303 Payable payment period 95.01057342 100.4826995 99.492088 86.7274691 80.45876077 83.03072043 EBIT 118.8 149.9 170.1 720.5 690.9 604.7 Interest 13 10.9 11.8 25.3 24.4 25.2 Interest Coverage Ratio 9.138461538 13.75229358 14.415254 28.47826087 28.31557377 23.99603175 Equity 764.4 744.4 661 286.2 285.6 222.7 Total asset 2148.4 2132.8 2091.2 2144.6 1893.6 1854.2 Equity Gearing ratio 0.355799665 0.349024756 0.3160865 0.133451459 0.150823828 0.120105706 Total asset 2148.4 2132.8 2091.2 2144.6 1893.6 1854.2 Revenue 2312.7 2282.2 2229.8 3740 3562 3441.1 Asset Turnover Ratio 1.076475517 1.070048762 1.0662777 1.743914949 1.881073088 1.855840794 Debt 623 646.5 703.2 1023.9 792 889.1 Equity 767.4 744.4 661 286.2 285.6 16623 Debt Equity ratio 0.811832161 0.868484686 1.0638427 3.577568134 2.773109244 0.053486134 Profitability Ratios Gross Profit 279.3 299.6 302.3 1240 1125 1045.3 Revenue 2312.7 2282.2 2229.8 3740 3562.8 3441.1 Gross profit ratio 12.1% 13.1% 13.6% 33.2% 31.6% 30.4% Operating profit 128.6 155.4 175 722.8 695.1 601.8 Revenue 2312.7 2282.2 2229.8 3740 3562.8 3441.1 Operating Profit Ratio 5.6% 6.8% 7.8% 19.3% 19.5% 17.5% Net Profit 87.2 115.9 125.3 553.2 508.6 474.8 Revenue 2312.7 2282.2 2229.8 3740 3562.8 3441.1 Net Profit Ratio 3.8% 5.1% 5.6% 14.79% 14.28% 13.80% (Hernes Sobieska-Karpińska, 2015) Payment of dividend (extracted from cash flow) (all amounts are in $) Debenhams Plc Next Plc 2014 2013 2012 2014 2013 2012 Dividend 41.7 41.4 38.5 164.8 147.7 135.1 Note: The latest year is taken 2014 as for the year 2015 no full information is available. External users: 1. Potential investors Potential investors are those persons who are willing to invest in the organization. They are the future investors. Sometimes they knew as the lender of the organization like banks, financial institutions, etc. The main information that is needed by these users is the financial stability of the company and their growth structure. The financial stability can be ascertained through the profitability ratios and with some of the efficiency ratios. They also keep a track on the liquidity balances. Now if the above two companies are taken into consideration, then it can be found that the interest coverage ratio in Next Plc is more than the Debenhams, and it is increasing. More ratios mean more ability to pay the interest obligation. Now if the investors are willing to invest in the fixed capital of the company, then the Next plc will be safer than the Debenhams (Nextplc.co.uk, 2013). On the other hand, the debt equity ratio also is more in case of Next plc it implies that they have more de pendency on debt capital than the equity capital. From the view point of the liquidity Next plc is more suitable than the other one as both the current ratio and quick ratio is more, but the analysis of the cash flow statement of both the companies for the year 2014 reveled that Debenhams Plc repaid their loan obligation in order to reduce their financial burden. This may be helpful for the lenders when they approved the loan for the organizations (Duque, 2009).The investor may also have to follow the trend of both the business whether it is increasing and static. All this information may useful for him at the time of selecting his investment option (Annualreports.com, 2012). 2. Government Any economy of the country is regulated by the government of the respective country. They need the financial information in order to know the contraction or expansion of the business, their taxation policy, labour laws etc. Moreover with the introduction of the corporate governance policies it is the responsibility of the government to make supervision regarding the fulfillment of compliances. Here both the companies are paying their tax obligations in time and effectively follow the rules and regulations of corporate governance (Annualreports.com, 2013). 3. Suppliers and customers Suppliers and the customers are those parties who purchases or sells their products to and from the company. They are not much interested to know the profitability of the company; they give more focus on the receivable, payable and inventory management policy. As in case of above two companies the receivable management policy is better in case of Debenhams, they collected the dues from their debtors at a frequency of 11-12 days where as the Next plc collected their dues at an interval of 78 days. The payable and inventory management policy is almost in a static position for the company. So if a customer wants to get more credit facility then they should have invested in Next Plc (2013). Internal users: 4. Managers Managers are the main internal users of the information. They are the persons who take the decisions and formulate policies based on the information. For example the net profit ratio of Debenhams is in decreasing trend which is not a good sign of profitability. Managers can use this information to find out the reason behind it and as it is observed that one of the main reasons is the enhancement of the operating costs. So the management has to give focus to eliminate some part of the operating cost in order to improve its net profit. Without the financial information it is not possible for the management to maximize the profit (Allan, 2008). 5. Shareholders Shareholders are the person who makes an investment in the equity share of the company. They are the owner of the organization. They are always concern to know that how the managers are utilizing their money into the operation of the business. They give more emphasis on the profitability and liquidity portion rather than solvency and other management policies. The dividend policy of an organization has an important impact on the share price of the organization. If the amount of dividend is acceptable by the shareholders it will increase their confidence about the company as a result the share price goes up. For both the companies the amount of dividend payment is increasing but in case of Next Plc the growth rate is higher than the Debenhams. On the other hand Debenhams increases their dividend payment a bit in the year 2014 compared to the previous years in spite of having a declining net profit ratio. This situation implies that the company may pay a portion of their dividend from the retain earnings. If this is the case then it will not be a preferable condition for the shareholders. Ultimately the shareholders goal is to maximize their wealth by getting a good amount of dividend and the capital appreciation. So they can select the option of retaining or selling the ownership on the basis of the financial information provided. (Annualreports.com, 2014). 6. Employees Employees are the main human assets of any organization. They need the financial information to depict the present as well as the future prospective of the company. The information will help them in taking decision regarding their continuation with the organization. Apart from their salaries they sometimes get different benefit options and can participate in the decision making process. ESOP is one of the schemes which allow the employees to purchase shares of the company at a lower cost. All this benefit can only be given if the company is in a stage of higher profitability. So the employees are also getting concern about the profitability and the solvency position of the company in order to ensure their benefit. Conclusion From the view point of the above discussion it can be said that the financial information is very useful in each and every single segment of an organization. It is very difficult to say that which part of the information is useful for which users. In the practical world when a person is engaged with an organization or he is willing to engage then all the information which is disclosed by the organization is equally important for him. Say for a creditor it is not enough for him to know that the company is having a good payable policy (Nextplc.co.uk, 2014). It is one of the factors that he can focus but it will not be wise to be totally dependent on the factor. So it can be concluded that the financial information are very much useful for all the users in order to create a healthy relationship with the organization (Coskun Grabowski, 2005). References (2013). Retrieved 7 August 2015, from https://media.corporate-ir.net/media_files/IROL/19/196805/.../ar2013.pd Allan, W. (2008). Fundamentals of management accounting. Amsterdam: CIMA/Elsevier. Annualreports.com,. (2012). Debenhams plc - AnnualReports.com. Retrieved 7 August 2015, from https://www.annualreports.com/Company/debenhams-plc Annualreports.com,. (2013). Debenhams plc - AnnualReports.com. Retrieved 7 August 2015, from https://www.annualreports.com/Company/debenhams-plc Annualreports.com,. (2014). Debenhams plc - AnnualReports.com. Retrieved 7 August 2015, from https://www.annualreports.com/Company/debenhams-plc Coskun, E., Grabowski, M. (2005). Impacts of User Interface Complexity on User Acceptance and Performance in Safety-Critical Systems. Journal Of Homeland Security And Emergency Management, 2(1). doi:10.2202/1547-7355.1109 Duque, J. (2009). Financial Modelling. Bradford: Emerald Group Pub. Hernes, M., Sobieska-Karpińska, J. (2015). Application of the consensus method in a multiagent financial decision support system. Information Systems And E-Business Management. doi:10.1007/s10257-015-0280-9 Lunt, H. (2008). Fundamentals of financial accounting. Amsterdam: CIMA/Elsevier. Lynch, T., Gregor, S. (2004). User participation in decision support systems development: Influencing system outcomes. European Journal Of Information Systems, 13(4), 286-301. doi:10.1057/palgrave.ejis.3000512 McLeod, L., MacDonell, S., Doolin, B. (2007). User Participation in Contemporary IS Development: an IS management perspective. AJIS, 15(1). doi:10.3127/ajis.v15i1.29 Nextplc.co.uk,. (2012). Next Plc. Retrieved 7 August 2015, from https://www.nextplc.co.uk Nextplc.co.uk,. (2013). Next Plc. Retrieved 7 August 2015, from https://www.nextplc.co.uk Nextplc.co.uk,. (2014). Next Plc. Retrieved 7 August 2015, from https://www.nextplc.co.uk