Summa Theologica The View On The Acquisition Of Knowledge

In his work, â€Å"Summa Theologica†, Aquinas expresses his unique views on the acquisition of knowledge, and argues against the claims of other philosophers. Aquinas claims that one is born with a blank slate, or lack of knowledge, and obtains knowledge through phantasms, or sensible images, due to the unity of the body and soul. This opinion is generally unlike the views of other traditional philosophers who claim that knowledge is inherent, and Aquinas makes multiple valid arguments against the traditional view. Plato’s epistemological view is that one is born with innate concepts and ideas before they acquire additional knowledge. He argues that when asked a question, an ignorant person will still answer with some portion of truth, despite not having acquired any relevant knowledge. He claims this phenomenon is proof that one is born with innate species which allow one’s soul to understand corporeal ideas (116). Aquinas’ belief that one is born with a blank slate disagrees with this notion, and he responds with a convincing argument against the Platonic view. He points out that if one were to have an innate knowledge of all things, then it would be impossible for them to forget those ideas in the first place. Because of the unity of the body and soul, it is unreasonable that the body would hinder the soul from remembering what it naturally knows, because a natural entity should not be impede a natural occurrence. To further disprove Plato’s theory, Aquinas provid es an exampleShow MoreRelated Truth Evident in the Many Beliefs of Al-Ghazali and Aquinas Essay1805 Words   |  8 Pagesfield of study in which each is used. According to two prominent thinkers of the twelfth and thirteenth centuries, Truth is revealed through religion while truth can be reasoned with philosophy. Al-Ghazali and Thomas Aquinas both hold similar, basic views on the subjects of reason and faith that uncover absolute Truth. By way of relating to the practical and functional appeal of the common public, however, Aquinas provides the stronger position of thinking when compared to that of Al-Ghazali. Read MoreEssay on Faith and Reason2144 Words   |  9 Pagesultimately led to his demise, he represented a rational way of acquiring knowledge. After he was sentenced to death, Socrates described his death as an opportunity to continue a life of searching. â€Å"Above all, I shall be able to continue my search into true and false knowledge; as the world, so also in that; I shall find out who is wise, who pretends to be wise, and is not.† This demonstrates Socrates’ belief of what true knowledge was. To Socrates, a person who was truly wise knew that he knew nothingRead MoreSt. Thomas on the Nature of Human Action5620 Words   |  23 PagesINTRODUCTION In moral theory, understanding the concept of human action is significant. While contemporary moral philosophers tend to address these subjects as discrete topics of study, St. Thomas Aquinas’s treatment of them yields a bracing, comprehensive view of the moral life. Though at times it is not necessary for someone to be a trained moralist just to determine whether an act is good or bad, in some cases, this task can be challenging. Essential to identifying a correct moral action is recognizing

All About Light-Physics - 842 Words

Precious Marie T. Torres 7 – JAENA (SPJ) LIGHT * Light is part of the electromagnetic spectrum, the spectrum is the collection of all waves, which include visible light, Microwaves, radio waves ( AM, FM, SW ), X-Rays, and Gamma Rays. * In the late 1600s, important questions were raised, asking if light is made up of particles, or is it waves .? * Sir Isaac Newton, held the theory that light was made up of tiny particles. In 1678, Dutch physicist, Christian Huygens, believed that light was made up of waves vibrating up and down perpendicular to the direction of the light travels, and therefore formulated a way of visualising wave propagation. * This became known as Huygens Principle. Huygens theory was the†¦show more content†¦MODELS * RAY MODEL – The simplest mode of light. * WAVE MODEL – Color is naturally described in terms of wavelength. 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This type of wave motion is called transverse-wave motion. The transverse waves spread out in expanding circles until they reach the edge of the pool. * Light radiates from its source in all directions until it is absorbed or diverted by someShow MoreRelatedThe History of Physics Essay1534 Words   |  7 PagesThe History of Physics In order to attempt to trace the origins of the modern science that we now refer to as â€Å"physics,† we must begin with the origin of the term itself. Taken from the Greek word â€Å"physika† meaning growth or nature, physics most obviously began as the intelligent study of the human environment (Webster 393). From superstition and religious practices, the foundation of all other sciences was born. These concepts have subsequently grown into what we regardRead MorePlank, Einstein and Black Body Radiation1400 Words   |  6 Pages19th century physics was mostly thought to be at an apex. 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International Maritime Organization Free Essays

Structure International Maritime Organization (IMO) is an agency in the United Nations that is responsible for the safety and security of shipping and the prevention of marine pollution. The IMO is broken up into an Assembly, a Council and five other committees: Maritime Safety Committee, Marine Environment Protection Committee, Legal Committee, Technical Co-operation Committee, and the Facilitation Committee. The Assembly is the overseer of the Organization, it consists of member states (countries that have adopted the IMO) and meets once every two years. We will write a custom essay sample on International Maritime Organization or any similar topic only for you Order Now It is also responsible for voting the budget and determining the financial status of the Organization. The Council is elected by the Assembly for a two term period. It consists of ten countries with the largest interest in providing international shipping services, ten countries with the largest interest in international seaborne trade, and twenty countries which have special interests in maritime navigation. Their functions are to co-ordinate the activities of the Committees and receive reports and proposals from the Committees and submit them to the Assembly. They also appoint the Secretary General of the IMO which currently is Koji Sekimizu (Japan) and enter into agreements about their connections with other Organizations. The Maritime Safety Committee’s functions are to consider matter relating to aids of navigation, construction and equipment of vessels, rules of the road, handling of dangerous cargo, maritime safety procedures, marine casualty investigations, and more. The Marine Environment Protection Committee determines any matter that controls the prevention and pollution of ships. It especially makes regulations to ensure their enforcement. The Legal Committee deals with all legal matters within the IMO. The Technical Co-operation Committee considers matters that implement the IMO as the executive Organization in the technical co-operation field. The Facilitation Committee eliminates unnecessary regulations in international shipping, by implementing all aspects of the Convention on Facilitation of International Maritime Traffic. History of the IMO When IMO was adopted in 1948 its first task was to make a new version of SOLAS. The first task was the biggest and so far most important the IMO has had to deal with. After SOLAS, it focused on maritime traffic, load lines, and pollution. Pollution has recently become the major focus of the IMO and in response to the pollution issue created the International Convention for the Prevention of Pollution from Ships. In 1988 GMDSS was adopted so now a ship in distress anywhere in the world can be guaranteed assistance. The International Convention on Standards of Training, Certification and Watchkeeping (STCW) improved standards and gave IMO power to check Government actions and record all of this information. Cite: www. imo. org How to cite International Maritime Organization, Essays

Business Report On Dicksmith Holding Ltd - Free Sample Solution

Question: Write a report on"Dicksmith Holding Ltd is one of the major retailers of consumer electronics based in Australia". Answer: Introduction Business description activities Dicksmith Holding Ltd is one of the major retailers of consumer electronics based in Australia. The company aims at assisting its customers to achieve the most from technology at right value. The five strategic growth initiatives by the company has lead to tremendous growth during the year. These strategies resulted in 393 stores in Australia and New Zealand, with a hope to open 15 to 20 stores annually. In 2015 the company opened 13 stores and closed 7 stores, the company shall continue to look after its store base as the performance dictates. The company aims at aims at sustaining the old Dicksmith customers and also targeting the younger demographic. The private label strategy helps the company have diversified market for the products. Also, the online business platform seems to perform well with the help of 210 stores acting as distributors. The retail sales include over 8% of the online sales, which is expected to grow further to 10% in the coming year (Dicksmith, 2015). Further restructuring of the companys support office and Australian supply chain has resulted in a substantial change in cost structure. The company has a brand appeal amongst its customers and the market which sells a huge range of products. Having a cordial link with all the suppliers has also benefitted the company and such benefit shall also continue in the long term. In October 2013 was launched the unique concept of MOVE under which the customers were provided with latest technology with fashion, which has still been running successful. The latest tech from the world's biggest brands has helped the company to achieve and attract a large customer base. With the introduction of the new banner MOVE by Dick Smith, the company commenced its consumer electronics operations at Sydney international airports duty free location in February 2015 (Dicksmith, 2015). In the current year company achieved a significant increase in market share of computers, televisions fitness equipments. Also the company earned market leadership in the fitness category, which has been one of the most growing categories of the current year. Dick Smith aims to continue its quality of performance and customer satisfaction in the coming years, also i ncreased commercial operations, and strong growth opportunities. Significant issues from Directors report The director report contains details of the all important matters events occurred, including the financial performance of the company in current year. It also include data pertaining to meetings, non-compliance, dividends, etc. As per the current report there were held nine of directors meeting, three meetings of remuneration and nomination committee and four meetings of audit and finance committee during the current year. The company is a leading retailer of consumer goods having 393 stores in Australia and New Zealand which generated about $1.32billion revenue in the current year, compared to revenue of $ 1.23 billion in the last year, i.e., an increase of approximately 7.31% was witnessed. The net assets of the company were marked to be $ 169.1 million as compared to $ 166.9 million in the previous year, current assets showed a significant increase of $54.1 million due to increase in inventory levels in the company the current year. The directors continue the dividend policy of company and intent to pay out 60-70 % of the companys net profit after tax. The interim dividend paid during the current year was 7.0 cents and the final dividend declared is 5.0 cents, which amounts to 65% payout ratio. The board has expanded the role of remuneration committee to remuneration and nomination committee in the current year. Earlier the role of nomination committee was played by the board, but due to increased operations a separate committee was required for the performing the functions of the same. The basic functions of the newly formed committee shall be appointment, removal, remuneration of directors and other key managerial persons in the company. The company has also entered into contracts of indemnity, insurance and access with each director, which gives them the right to access the books and records of the company for a period of seven years after the directors ceases to hold his office and also, the company obtained the insurance of the directors for the period of their office and for a period of upto seven years after they cease to hold office (Crane Matten, 2010). All these deeds were entered into by the company taking into consideration the provision of various laws and there provisions. Corporate Governance The principles of corporate governance ensure that DickSmith Holding Ltd operates ethically and adheres to all the regulations. An authorization has been adopted by the company in this regard. The authorization is even termed as the charter that sheds light on the functions of the board, delegation of power, etc. Moreover, the shareholders interest has been provided adequate emphasis by the Board and the principles of corporate governance has provided a strong stability (Dicksmith Corporate Governance, 2015). The annual report has a defined section of corporate governance that describes the conduct of duties of executives, directors and other employees that leads to a strong transparency (Cogan, 2009). The establishment of audit committee strikes that the company adheres to the principles of corporate governance and has set up the mandatory committee. The committee consists of members and maximum are independent members. The corporate governance principles of the company lead to a hi gh level of transparency and even stress on the ethics and moral of the company. The introduction of risk management team is another achievement that indicates the potent of the framework (Goergen, 2012). Ratio Analysis 1. Current ratio The current ratio is mainly concerned with projection of liquidity. From the current ratio it can be ascertained whether the company is in a position to meet the obligations. The ideal ratio should be 2:1 that indicates for every $2 of current liability there will be $1 of current assets (Gibson, 2012). In the case of DickSmith a decline in the current assets has been seen. This is due to increment in the current liabilities. Current ratio 2014 2015 Current asset 335906 389979 Current Liabilities 266807 316527 Current ratio =current asset/ current liabilities 1.258985 1.232056 2. Quick Ratio The quick ratio provides a better answer to the concept of liquidity and hence, a better indicator than the current ratio. It has been noticed that the quick ratio declined marginally and is nowhere near to the base ratio of 1:1 (Gibson, 2012). Hence, there is a liquidity problem for the company and needs to be settled because obligations are more. Quick ratio 2014 2015 Quick Asset 82092 96935 Current liabilities 266807 316527 Quick ratio =quick assets/ current liabilities 0.307683 0.306246 3. Receivables turnover The receivable turnover indicates that the collection of the receivables is done 5 times a year and there is little variation in both the years. However, it is high time for the management to have a strong receivable turnover so that proper rollover of tax can be done. Receivable turnover 2014 2015 Net credit sales 1227604 1319670 Average inventory 253814 273429 Receivable turnover = net credit sales/ average inventory 4.836628 4.826372 4. Inventory Turnover This ratio indicates the number of times the inventory is sold in a year. When it comes to DickSmith it can be said that the inventory turnover is 4 times and without any change in both the years (Williams, 2012). Going by the normal functioning, the company must improve on it to have a better cash collection and smooth flow of inventory. Inventory turnover 2014 2015 cost of goods sold 919602 992828 Average inventory 253814 273429 Inventory turnover ratio = cost of goods sold/average inventory 3.623133 3.631027 Profitability Ratios 5. Profit Margin This ratio indicates the profitability of the company and is a strong indicator while assessment of the company is done. The profit margin has enhanced, however it is on the lower side and DickSmith must try to enhance the margin by raising the revenue (Williams, 2012). Net Profit Margin 2014 2015 Net Profit 19826 37905 Revenue 1227604 1319670 NP Margin =- Net profit/revenue *100 1.615016 2.872309 6. Cash return on sales The cash ratio has shown an advancement indicating the efficiency of the company. But, the ratio is on the lower side. This represents that the EBIT of the company has improved and hence, the management should look forward to better this ratio (Petersen Plenborg, 2012). Cash return on sales 2014 2015 EBIT 28681 53379 Revenue 1227604 1319670 Cash return on sales = EBIT/ revenue 0.023363 0.040449 7. Gross Profit margin This ratio is referred as net profit to sales and represents the sale that is left after cost of goods sold has been met. The GP margin has fallen marginally indicating that the cost of goods sold has not been managed in an efficient manner (Parrino et. al, 2012). GP margin 2014 2015 Gross Profit 308002 326842 Revenue 1227604 1319670 GP margin = gross profit/revenue *100 25.08969 24.76695 8. Expense ratio The expense ratio of DickSmith has declined indicating that the company has a command over sales. An expense ratio indicates the component of sales pertains to individual or group. A lower expense ratio projects higher profitability and a higher one mean lower profitability. Expense ratio 2014 2015 Selling expense 22710 6811 Net sales 1227604 1319670 Expense ratio = selling expense / net sales 1.849945 0.516114 9. Asset turnover ratio The asset turnover ratio projects the manner in which the management has managed the companys assets. A higher ratio is beneficial for the company (Parrino et. al, 2012). However, in the case of Dicksmith the ratio has fallen meaning the assets were not utilized in a proper manner. Asset turnover ratio 2014 2015 Sales 1227604 1319670 Total assets 451171 508521 Asset turnover ratio = sales/ Total assets 2.720928 2.595114 10. Return on Assets This ratio is a projector of the efficiency in which the assets are utilized. The ratio is low for the company indicating that the utilization of the assets could not be done. Return on assets 2014 2015 Net income 19826 37905 Avg total Assets 451171 479846 Return on assets = net income/ Avg total Assets 0.043943 0.078994 11. Return on Equity (ROE) ROE is a great indicator of the way in which the equity has been used to generate returns. The ratio has enhanced thereby projecting a good utilization of the equity component. However, ratio is low for the company (Horngren, 2013). Return on equity 2014 2015 Net income 19826 37905 shareholder equity 166940 169147 Return on equity = net income/ shareholder equity 0.118761 0.224095 12. Earnings per share EPS can be described as the profit component that is provided to the outstanding common stock. When EPS is high it projects a better scenario than a low one (Horngren, 2013). In the case of DickSmith the ratio has fallen and hence, not a good indicator. Earnings per share 2014 2015 0.16 0.08 13. Payout ratio This ratio enables to provide an answer of how much money the company is giving back. It enhanced in the year 2015 that signifies a strong situation (Guerard, 2013). Payout ratio 2014 2015 DPS 0.08 0.08 EPS 0.16 0.08 Payout ratio =DPS/EPS 0.5 1 Gearing ratio 14. Debt to Total Asset ratio Debt to total asset ratio Total Liabilities 3,39,374 0.6674 Total Assets 5,08,521 Debt to total asset ratio is an indicator of financial leverage. It helps us to determine what part of total assets is financed by debt, liabilities, etc. For Dick smith, we see that 66.74% of total assets are financed by outside liabilities, that is, the ratio is less than 1, which indicates that bulk of the assets is funded from equity (Guerard, 2013). This is good for the company as it has low risk and burden to pay back debts. 15. Times interest earned ratio Times interest earned ratio ore popularly known as interest coverage ratio is a tool which helps to calculate the companys ability to pay its debts. Higher the ratio, better it is (Brigs, 2013). Here, in the case of Dick smith we see that the interest coverage ratio is 13.98 times, which shows good financial stability of the company and its ability to pay back its debt. 16. Cash Debt Coverage Ratio The cash debt coverage ratio helps us to determine the solvency of the company. This ratio determines operating cash flow per dollar of total liabilities (Brigs, 2013). For the given company we see that the cash debt coverage ratio is negative 0.013 times, it means that the company has insufficient operating cash flows to pay back its liabilities. But negative ratio not always determines low financial stability. The operating cash flows is affected by various factors that are not under the control of entity. Evidence of Optimism The evidence of optimism can be providing through various report and discussion that are present. As a matter of fact, DickSmith has been hailed as the biggest equity component till date. This can be aptly meet by the condition that a small amount of $10m was transformed into $520m in a couple of year. The concept of private equity can be dealt as an important matter and DickSmith remained a forerunner. The transformation into such a huge number indicates the potent of the company. The company has maintained a smooth and a cordial relationship with the users that indicates the interest of the shareholder are never compromised. It even provides a reflection of the efforts that has been undertaken by the company (Lemke, 2014). Conclusion From the above discussion and the report, it is clear that corporate governance is the need of the hour and is a catalyst for the smooth running of the company. A company can ensure operations when it follows the corporate governance principles. DickSmith attained a strong result and this happened after a year of its listing on the ASX. However, in the current scenario, the ratio do not project a strong condition and therefore, it is not feasible to invest in the company. The company is facing liquidity issues, receivables and inventory turnover needs to be enhanced, profit margin needs to be pushed up. Therefore, the management must find ways to enhance the working and considering this it will be better not to invest in the company currently. It entered in to a receivership because funds were inadequate to meet the situation of the business. In 2015, both the cash and sales were a big flop leading to immense issues. References Brigs, A. (2013).Financial reporting analysis. Mason, Ohio: South-Western. Cogan, D. (2009). Corporate Governance and Climate Change: Making the Connexion, Oxford University Press. Crane, A., Matten, D. (2010). Business Ethics: Managing Corporate Citizenship and Sustainability in the age of globalization. New York: Oxford University press Dicksmith Corporate Governance. (2015). Dicksmith Holdings 2015. Retrieved May 21, 2016, Dicksmith. (2015). Dicksmith profile. Retrieved May 9, 2016, Fernando, A.C. (2009). Corporate Governance Policies and Principles, Oxford University Press Gibson, C. (2012).Financial statement analysis. Mason, Ohio: South-Western. Goergen , M. (2012). International Corporate Governance, Prentice Hall. Guerard, J. (2013).Introduction to financial forecasting in investment analysis. New York, NY: Springer. Horngren, C. (2013)Financial accounting. Frenchs Forest, N.S.W: Pearson Australia Group. Lemke, L. (2014). Regulation of Investment Advisers. Oxford University Press. Lubatkin, M.H. (2007). One more time: What is a realistic theory of corporate governance? Journal of Organizational Behaviour, 28, 59-67 Macey, J. (2008). Corporate Governance: Promises Kept, Promises Broken, California, Columbia and Princeton Parrino, R., Kidwell, D. and Bates, T. (2012). Fundamentals of corporate finance. Hoboken, NJ: Wiley Petersen, C., Plenborg, T. (2012).Financial statement analysis. Harlow, England: Financial Times/Prentice Hall. Peterson Drake, P., Fabozzi, F. (2012).Analysis of financial statements. Hoboken, N.J.: Wiley. Williams, J. (2012).Financial accounting. New York: McGraw-Hill/Irwin.