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RESUMEN DE INVERSIONES
INVERSION TOTAL
..
INVERSION FIJA .
S/. 1,450.00
S/. 1,400.00
S/. 1,200.00
TERRENO
S/. 200.00
S/. 50.00
I:
C:
P:
T:
S/. 50.00
..
CAPITAL DE TRABAJO
PLAZO PROM. INVENT. :
S/. 20
DIAS
S/. 45
DIAS
S/. 10
DIAS
S/. 360
DIAS
AO :
C.C. =
R.C. =
ROTACION DE CAJA =
G:
M.M.C. =
EVAL. ECON.
I+C-P =
T / C.C. =
CICLO DE CAJA =
S/. 55
DIAS
0.18
(DEL F.C.E. - D-AM.)
G / R.C. =
S/. 0
RESUMEN DE FINANCIAMIENTO
FINANCIAMIENTO .
APORTE PROPIO :
EVAL. FINANC.
BANCO :
15.00%
COFIDE :
60.00%
PVA =
S/. 0.30
(BANCO + COFIDE)
r=
20.00%
(BANCO)
r=
10.00%
(COFIDE)
COK = r =
30.00%
(BANCO Y COFIDE)
n=
PVA = a((1-(1+r)^-n) / r ) =
ANUALIDAD
S/. 391
a = PVA/((1-(1+r)^-n) / r ) =
AO
PRINCIPAL
1,450
INTERES :
S/. 33
1ER AO
AMORTIZAC.:
S/. 277
1ER AO
INTERES
AMORTIZ.
ANUALIDAD
1172.54
32.50
277.46
310
888.95
25.92
283.59
310
599.09
19.65
289.86
310
302.82
13.24
296.27
310
6.69
302.82
310
310
1,450.00
DEPRECIACION DE LA INVERSION FIJA .
TASA :
25.00%
PRODUCC. :
S/. 980
70%
ADMINIST. :
S/. 50
20%
VENTAS :
AMORT. DE LA INV. INTANGIBLE .
..
10%
..
PRODUCC. :
70%
ADMINIST. :
20%
VENTAS :
..
..
POR DEPRECIACION :
..
POR K DE TRABAJO :
..
10%
VENTAS FISICAS :
VENTAS FISICAS :
30.00
25.00
Ventas Netas
(-) Costo de Ventas (Incl. D + A)
Utilidad Bruta
(-) Gastos de Operacin
* G.A. (Incl. D+A)
140
* G.V (Incl. D+A)
70
Util. de Operacin (U.A.I.I.)
(-) Gastos Financ. Netos Fijos
Resultado de Explotacin
(-) Otros Gastos Netos Fijos
Resultado del Ejercicio
(-) Rem. Direct. (Hasta el 6%)
Sub - Total
(-) Partic. Trabaj. (10%)
Util. antes de Imp. (U.A.I.)
(-) Imp. a la Renta 3ra Cat.(30%)
UTILIDAD NETA
(-) Dividendos Acc. Pref.
UTILIDAD NETA (ACC. COM.)
(-) Amortizacin de la Deuda
+ (Depreciacin + Amortiz. Intang.)
FLUJO DE CAJA FINANCIERO
(+) Gastos Financ. Netos
(+) Amortizacin de la Deuda
( - ) ESCUDO FISCAL
FLUJO DE CAJA ECONOMICO
EE PP GG Y FLUJO DE CAJA ECONOMICO
Ventas Netas
(-) Costo de Ventas (Incl. D + A)
Utilidad Bruta
(-) Gastos de Operacin
* G.A. (Incl. D+A)
* G.V (Incl. D+A)
Util. de Operacin (U.A.I.I.)
Kg
Kg
Px =
Py =
S/. 25.00
S/. 40.00
20,000
15,000
5,000
210
30,000
16,000
14,000
210
40,000
19,000
21,000
210
4,790
310
4,480
590
3,890
13,790
310
13,480
590
12,890
20,790
310
20,480
590
19,890
3,890
12,890
19,890
3,890
1,167
2,723
4
2,719
12,890
3,867
9,023
4
9,019
19,890
5,967
13,923
4
13,919
2,719
9,019
13,919
2,719
9,019
13,919
20,000
15,000
5,000
0
30,000
16,000
14,000
0
40,000
19,000
21,000
0
5,000
14,000
21,000
310
4,690
590
4,100
310
13,690
590
13,100
310
20,690
590
20,100
4,100
13,100
20,100
4,100
1,230
2,870
4
2,866
13,100
3,930
9,170
4
9,166
20,100
6,030
14,070
4
14,066
2,866
9,166
14,066
2,866
9,166
14,066
INDICADORES ECONOMICOS
COK :
AO
F.C.E.
FACTOR
V.A.N.
2,866.34
0.8000
29,236.24
9,166.34
0.6400
26,943.17
14,066.34
0.5120
21,076.71
14,066.34
0.4096
13,874.74
14,066.34
0.3277
8,113.17
13,366.34
0.2621
3,503.91
V.A.E.
V.A.N.E.
B/C E
T.I.R.E.
PRI
..
r1:
25.00%
r2:
30.00%
AO
F.C.E.
0.00
FACTOR
V.A.N. 1
FACTOR
0.8000
29,420.68
0.8107
4,100.49
0.6400
29,420.68
0.8454
13,100.49
0.5120
26,796.36
0.8743
20,100.49
0.4096
20,088.91
0.8981
20,100.49
0.3277
11,855.75
0.9176
20,100.49
0.2621
5,269.22
0.9335
V.A.N.E.
INTERPOLANDO :
122,851.60
TIRE = r1 + (VAN 1 / (VAN 1 - VAN 2)) * (r2 - r1) =
INDICADORES FINANCIEROS
Err:522
COK :
AO
F.C.F.
FACTOR
V.A.N.
2,719.34
0.8000
28,573.01
9,019.34
0.6400
26,397.53
13,919.34
0.5120
20,625.15
13,919.34
0.4096
13,498.45
13,219.34
0.3277
7,797.09
13,219.34
0.2621
3,465.37
V.A.E.
V.A.N.E.
B/C E
T.I.R.E.
T.I.R.F.
PRI
..
r1:
65.00%
r2:
70.00%
AO
F.C.F.
2,719.34
FACTOR
V.A.N. 1
FACTOR
0.6061
11,673.54
0.7250
2
3
9,019.34
0.3673
10,025.45
0.8229
13,919.34
0.2226
6,712.56
0.8886
13,919.34
0.1349
3,613.95
0.9309
13,219.34
0.0818
1,736.01
0.9575
13,219.34
0.0496
655.10
0.9740
V.A.N.F.
INTERPOLANDO :
34,416.62
TIRF = r1 + (VAN 1 / (VAN 1 - VAN 2)) * (r2 - r1) =
Err:522
CUESTION DE CALCULO
PUNTO DE EQUILIBRIO FINANCIERO PARA EL PRIMER AO (*)
COSTOS Y GASTOS
COSTO DE VENTAS
GASTOS DE ADMINIST.
GASTOS DE VENTAS
GASTOS FINANC. NETOS
O. GASTOS NETOS.
TOTAL
CT
30,000.00
5,000.00
10,000.00
3,500.00
2,000.00
50,500.00
SUPONIENDO X :
SUPONIENDO Y :
CV
5,000.00
2,000.00
3,000.00
500.00
1,000.00
11,500.00
40.00%
v (y) =
VENTAS FISICAS :
VENTAS FISICAS :
1,000.00
35,000.00
X:
Y:
VENTAS FISICAS :
VENTAS FISICAS :
50.00
40.00
90.00
C.F.OP.
C.F.OP.
C.F.OP.
C.F.F.
C.F.O.G.N.
Px =
Py =
v (x) =
X:
Y:
CF (*)
25,000.00
3,000.00
7,000.00
3,000.00
1,000.00
39,000.00
Kg
Kg
Px =
Py =
Kg (C.I.)
Kg (C.I.)
Px =
Py =
S/. 15.00
S/. 25.00
Ventas Netas
20,000
COSTO VARIABLE
COSTO FIJO OPERATIVO
Util. de Operacin (U.A.I.I.)
(-) Gastos Financ. Netos
Resultado de Explotacin
(-) Otros Gastos Netos
Resultado del Ejercicio
(-) Rem. Direct. (Hasta el 6%)
Sub - Total
(-) Partic. Trabaj. (10%)
Util. antes de Imp. (U.A.I.)
(-) Imp. a la Renta 3ra Cat.(30%)
UTILIDAD NETA
(-) Dividendos Acc. Pref.
UTILIDAD NETA (ACC. COM.)
15,000
5,000
0
Px =
Py =
v (x) =
v (y) =
5,000
310
4,690
590
4,100
C.F.OP. =
C.F.F. =
C.F.O. G.N. =
P.E. (Kg) =
P.E. (Kg) =
4,100
4,100
1,230
2,870
Ventas Fisicas
Ventas Netas
COSTO VARIABLE
COSTO FIJO OPERATIVO
Util. de Operacin (U.A.I.I.)
(-) Gastos Financ. Netos
Resultado de Explotacin
(-) Otros Gastos Netos
Resultado del Ejercicio
(-) Rem. Direct. (Hasta el 6%)
Sub - Total
(-) Partic. Trabaj. (10%)
Util. antes de Imp. (U.A.I.)
(-) Imp. a la Renta 3ra Cat.(30%)
UTILIDAD NETA
(-) Dividendos Acc. Pref.
UTILIDAD NETA (ACC. COM.)
25.00%
CASO 2
CASO 1
15000
11250
20,000
15,000
25000
18,750
3,750
2,813
3,278
233
3,045
443
2,603
5,000
630
4,370
310
4,060
590
3,470
6,250
4,688
1,563
387
5,075
738
4,338
2,603
3,470
4,338
2,603
3,470
1,041
2,429
4,338
1,822
3,036
AOS
(ESTIMADO)
(ESTIMADO)
(ESTIMADO)
AOS
(ESTIMADO)
(ESTIMADO)
(ESTIMADO)
AOS
AOS
INANCIERO
CIFRAS
REALES
750
40,000
19,000
21,000
210
45,000
24,000
21,000
210
50,000
30,000
20,000
210
20,790
310
20,480
590
19,890
20,790
310
20,480
590
19,890
19,790
310
19,480
590
18,890
19,890
19,890
18,890
19,890
5,967
13,923
4
13,919
19,890
5,967
13,923
4
13,919
18,890
5,667
13,223
4
13,219
13,919
13,919
13,219
13,919
13,919
13,219
40,000
19,000
21,000
0
45,000
24,000
21,000
0
50,000
30,000
20,000
0
21,000
21,000
20,000
310
20,690
590
20,100
310
20,690
590
20,100
310
19,690
590
19,100
20,100
20,100
19,100
20,100
6,030
14,070
4
14,066
20,100
6,030
14,070
4
14,066
19,100
5,730
13,370
4
13,366
14,066
14,066
13,366
14,066
14,066
13,366
EXCEL
AOS
V.A.N. 2
70,181.98
82,141.23
57,268.19
33,840.10
Err:522
Err:522
Err:522
EXCEL
AOS
V.A.N. 2
60,254.16
58,282.66
50,860.52
38,491.99
25,534.31
12,876.26
Err:522
*)
%(CV/VT)
65.00%
65.00%
65.00%
CIFRAS
REALES
CAPAC.
INSTAL.
E PP GG
157.5
1092.5
77.4
1015.1
147.5
867.6
0.0
867.6
0.0
867.6
260.3
607.3