Professional Documents
Culture Documents
Enero
Ingresos
Egresos
Mat Prima
MOD
Febrero
$6,577,500
marzo
$8,550,000
abril
$8,635,500
$ 64,898
$ 35,957
$ 64,898
$ 35,957
$ 64,898
$ 35,957
$ 64,898
$ 35,957
G.Adtivos +CIFF
$ 3,000
Seguros
$ 1,000
Saldo
-104855
Saldo Acumulado -104855
$ 3,000
$ 3,000
$ 3,000
$ 1,000
$6,472,645
$6,367,790
$ 1,000
$8,445,145
$14,812,935
$ 1,000
$8,530,645
$23,343,580
2494
0%
$3,750
mensuales
1754
2280
2303
Inversiones Depreciables
Gastos de Depreciacion
LINEA DE PRODUCCION
$30,000
$3,000
0%
2326
$99,127
2349
Periodo
Deprec Acumu
Vr Libros
0%
$37.0
0%
5
10%
14.77%
2373
2396
2420
2444
2469
2494
1
2
3
4
5
6
7
8
9
10
$3,000
$6,000
$9,000
$12,000
$15,000
$18,000
$21,000
$24,000
$27,000
$30,000
$27,000
$24,000
$21,000
$18,000
$15,000
$12,000
$9,000
$6,000
$3,000
$0
Capital de Trabajo
Gastos de Puesta en Marcha
Otras Inversiones
Total Inversiones
INFORMACION COMPLEMENTARIA
$ 20,000
$40,000
$30,000
$8,700
0
0
$98,700
25,607.84
TABLA DE DEPRECIACION
inversiones depreciables
Gastos de depreciacin
OBRAS CIVILES
TABLA DE DEPRECIACION
Periodo
Deprec Acumu
1
$2,000
2
$4,000
3
$6,000
4
$8,000
$40,000
$2,000
Vr Libros
$38,000
$36,000
$34,000
$32,000
FINANCIACION OPCION 1
Vida Util Obras civiles (Aos)
Valor de salvamento
Credito
Tasa de Interes Prestamo
Inflacion Promedio Esperada
Credito
20
30%
$35,700
12%
0%
36%
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
EA
10
20%
Aporte socios
Dfcia para prestamo
63,000
$35,700
Periodo
0
1
2
3
4
5
$35,700
63,000
$98,700
WACC
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
$22,000
$24,000
$26,000
$28,000
$30,000
$32,000
$34,000
$36,000
$38,000
$40,000
$30,000
$28,000
$26,000
$24,000
$22,000
$20,000
$18,000
$16,000
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
($5,619.53)
($6,293.87)
($7,049.14)
($7,895.03)
($8,842.44)
14.77%
Ingresos
1 Unidades a Vender
2 Precio de Venta
Ingresos por Ventas
3 Venta de Activo
$3,750.00
4 Total Ingresos
5
6
7
8
9
Egresos
Costos Variables Unitarios
Costos Variables Totales (5)x(1)
Costos Fijos
Depreciacion y Amortizacion
Valor en Libros Activos Vendidos
$37.00
$99,127.00
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$37.00
$92,278.00
$99,127.00
$37.00
$92,278.00
$99,127.00
$37.00
$92,278.00
$99,127.00
$191,442.00
$191,442.00
$191,442.00
$9,161,058.00
$9,161,058.00
$9,161,058.00
Ajustes Contables
(+) Depreciaciones y Amortizacion (8)
(+) Valor en Libros Activos Vendidos (9)
(-) Inversiones
Terrenos
Obras Fisicas
Maquinarias
Muebles
Vehiculos
Capital de Trabajo
Gastos de Puesta en Marcha
Otras Inversiones
$9,161,058.00
$9,161,058.00
$916,105.80
$916,105.80
$916,105.80
$8,244,952.20
$8,244,952.20
$8,244,952.20
($20,000.00)
($40,000.00)
($30,000.00)
$0.00
$0.00
($8,700.00)
$0.00
$0.00
$9,161,058.00
($98,700.00)
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($98,700.00)
$8,244,952.20
$8,244,952.20
$27,712,240.32
8353.55%
$8,244,952.20
27,712,240.32
Ingresos
1 Unidades a Vender
2 Precio de Venta
Ingresos por Ventas
3 Venta de Activo
$3,750.00
4 Total Ingresos
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$37.00
$92,278.00
$99,127.00
$5,000.00
$37.00
$92,278.00
$99,127.00
$5,000.00
$37.00
$92,278.00
$99,127.00
$5,000.00
Egresos
5
6
7
8
9
$37.00
$99,127.00
$196,442.00
$196,442.00
$196,442.00
$9,156,058.00
$9,156,058.00
$9,156,058.00
($20,000.00)
($40,000.00)
($30,000.00)
$0.00
$0.00
($8,700.00)
$0.00
$0.00
($98,700.00)
28
29
30
31
$9,156,058.00
$9,156,058.00
$915,605.80
$915,605.80
$9,156,058.00
$915,605.80
$8,240,452.20
$8,240,452.20
$8,240,452.20
$5,000.00
$5,000.00
$5,000.00
$8,245,452.20
$8,245,452.20
$8,245,452.20
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($98,700.00)
$27,716,185.34
8354.05%
TABLA 10: Ejemplo Practico. Flujo de Caja - Efecto Combinado de la Depreciacin y Prestamo.
FLUJO DE CAJA DEL PROYECTO
Concepto
Ingresos
1 Unidades a Vender
2 Precio de Venta
Ingresos por Ventas
3 Venta de Activo
$3,750.00
4 Total Ingresos
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$9,352,500.00
$37.00
$92,278.00
$99,127.00
$3,000.00
$37.00
$92,278.00
$99,127.00
$3,000.00
$37.00
$92,278.00
$99,127.00
$3,000.00
Egresos
5
6
7
8
9
$37.00
$99,127.00
$194,442.00
$194,442.00
$194,442.00
$9,158,058.00
$9,158,058.00
$9,158,058.00
-4,284.00
Ajustes Contables
(+) Depreciaciones y Amortizacion (8)
(+) Valor en Libros Activos Vendidos (9)
(-) Inversiones
Terrenos
Obras Fisicas
Maquinarias
Muebles
Vehiculos
Capital de Trabajo
Gastos de Puesta en Marcha
Otras Inversiones
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($2,854.39)
$9,154,448.34
$9,155,203.61
$915,377.40
$915,444.83
$915,520.36
$8,238,396.60
$8,239,003.51
$8,239,683.25
$5,000.00
$5,000.00
$5,000.00
($20,000.00)
($40,000.00)
($30,000.00)
$0.00
$0.00
($8,700.00)
$0.00
$0.00
($98,700.00)
$35,700.00
($3,609.66)
$9,153,774.00
($63,000.00)
$27,725,577.77
13075.84%
$5,619.53
$6,293.87
$7,049.14
$8,237,777.07
$8,237,709.64
$8,237,634.11
OBRAS CIVILES
Mayo
$8,721,855
Junio
$8,809,074
Julio
$8,897,164
$ 64,898
$ 35,957
$ 64,898
$ 35,957
$ 64,898
$ 35,957
$ 3,000
$ 3,000
$ 3,000
$ 1,000
$8,617,000
$31,960,580
$ 1,000
$8,704,219
$40,664,799
$ 1,000
$8,792,309
$49,457,108
costos fijos
MOD
CF(Adtivos,CIFF)
seguros
Total fijos
unidad
20.5
3000 mensual
1000 mens
4
25.4
7.6
37
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$38,000.00
$9,352,500.00
$9,390,500.00
$37.00
$92,278.00
$99,127.00
$37.00
$92,278.00
$99,127.00
$191,442.00
$191,442.00
$9,161,058.00
$9,199,058.00
$9,161,058.00
$9,199,058.00
$916,105.80
$919,905.80
$8,244,952.20
$8,279,152.20
$8,700.00
$8,244,952.20
$8,287,852.20
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$38,000.00
$9,352,500.00
$9,390,500.00
$37.00
$92,278.00
$99,127.00
$5,000.00
$37.00
$92,278.00
$99,127.00
$5,000.00
$45,000.00
$196,442.00
$241,442.00
$9,156,058.00
$9,149,058.00
$9,156,058.00
$9,149,058.00
$915,605.80
$914,905.80
$8,240,452.20
$8,234,152.20
$5,000.00
$5,000.00
$45,000.00
$8,700.00
$8,245,452.20
$8,292,852.20
2,494
$3,750.00
$9,352,500.00
2,494
$3,750.00
$9,352,500.00
$38,000.00
$9,352,500.00
$9,390,500.00
$37.00
$92,278.00
$99,127.00
$3,000.00
$37.00
$92,278.00
$99,127.00
$3,000.00
$45,000.00
$194,442.00
$239,442.00
$9,158,058.00
$9,151,058.00
($2,008.50)
($1,061.09)
$9,156,049.50
$9,149,996.91
$915,604.95
$914,999.69
$8,240,444.55
$8,234,997.22
$5,000.00
$5,000.00
$45,000.00
$8,700.00
$7,895.03
$8,842.44
$8,237,549.52
$8,284,854.78
Enero
Ingresos
Egresos
Mat Prima
MOD
Febrero
$11,250
$ 3,675
$ 1,025
$ 3,675
$ 1,025
G.Adtivos +CIFF
$ 3,000
$ 3,000
Seguros
$ 1,000
Saldo
-8700
Saldo Acumulado -8700
$ 1,000
$2,550
($6,150)
600
0%
$225
50
Inversiones Depreciables
Gastos de Depreciacion
LINEA DE PRODUCCION
0%
TABLA DE DEPRECIACION
$60,300
Periodo
0%
$73.5
0%
Tasa de Impuestos
Tasa de Interes de Oportunidad
10%
16.10%
Inversiones
5
6
7
Terrenos
$ 20,000
Obras Fisicas
$40,000
Linea de produccin
$30,000
10
inversiones depreciables
Gastos de depreciacin
OBRAS CIVILES
Capital de Trabajo
$8,700
TABLA DE DEPRECIACION
Periodo
1
$98,700
2
3
INFORMACION COMPLEMENTARIA
FINANCIACION OPCION 2
Vida Util Obras civiles (Aos)
Valor de salvamento
Credito
5
20
30%
$35,700
15.67%
EA
0%
10
11
12
10
13
20%
14
15
Aporte socios
Dfcia para prestamo
63,000
16
$35,700
17
18
19
20
Ke = Rl + beta * (Rm-Rl)
Rl
6%
Rm
15.40%
beta
1.1
Ke
Periodo
16.34%
0
1
Prstamo
$35,700
Socios
63,000
Total
$98,700
WACC
16.10%
$225.00
$225.00
Ingresos
1
Unidades a Vender
Precio de Venta
600
$135,000.00
Venta de Activo
Total Ingresos
Costos Fijos
Depreciacion y Amortizacion
10
11
12
13
14
(-) Impuestos
15
$135,000.00
Egresos
Ajustes Contables
16
$73.50
$73.50
$44,100.00
$60,300.00
$60,300.00
$104,473.50
$30,526.50
$30,526.50
$3,052.65
$27,473.85
17
18
(-) Inversiones
19
Terrenos
($20,000.00)
20
Obras Fisicas
($40,000.00)
21
Maquinarias
($30,000.00)
22
Muebles
23
Vehiculos
24
Capital de Trabajo
25
26
Otras Inversiones
$0.00
$0.00
($8,700.00)
$0.00
$0.00
27
28
29
30
31
($98,700.00)
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($98,700.00)
$11,397.18
20.28%
$27,473.85
$225.00
$225.00
Ingresos
1
Unidades a Vender
Precio de Venta
600
$135,000.00
Venta de Activo
Total Ingresos
Costos Fijos
Depreciacion y Amortizacion
10
11
12
13
14
(-) Impuestos
15
$135,000.00
Egresos
$73.50
$73.50
$44,100.00
$60,300.00
$60,300.00
$5,000.00
$109,473.50
$25,526.50
$25,526.50
$2,552.65
$22,973.85
Ajustes Contables
16
17
18
(-) Inversiones
$5,000.00
19
Terrenos
($20,000.00)
20
Obras Fisicas
($40,000.00)
21
Maquinarias
($30,000.00)
22
Muebles
23
Vehiculos
$0.00
24
Capital de Trabajo
25
$0.00
26
Otras Inversiones
$0.00
$0.00
($8,700.00)
27
28
29
30
31
($98,700.00)
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($98,700.00)
$15,164.32
21.57%
$27,973.85
$225.00
$225.00
Ingresos
1
Unidades a Vender
Precio de Venta
600
Venta de Activo
Total Ingresos
$135,000.00
$135,000.00
Egresos
Costos Fijos
Depreciacion y Amortizacion
10
11
12
13
14
(-) Impuestos
15
$73.50
$73.50
$44,100.00
$60,300.00
$60,300.00
$3,000.00
$107,473.50
$27,526.50
-5,592.60
$21,933.90
$2,193.39
$19,740.51
Ajustes Contables
16
17
18
(-) Inversiones
$5,000.00
19
Terrenos
($20,000.00)
20
Obras Fisicas
($40,000.00)
21
Maquinarias
($30,000.00)
22
Muebles
23
Vehiculos
24
Capital de Trabajo
$0.00
$0.00
($8,700.00)
25
26
Otras Inversiones
$0.00
$0.00
27
($98,700.00)
28
$35,700.00
29
30
31
$5,225.57
(15)+(16)+(17)+(27)+(28)+(29)+(30)-(31)
($63,000.00)
$22,702.58
27.90%
$19,514.94
$ 16,809.31
$19,514.94
$ 14,418.06
$19,433.08
$ 12,358.57
$19,338.39
$ 10,584.84
$19,228.88
$ 31,531.81
$ 54,170.77
$8,829.23
101 das
PIR
0.28
No 4 Proyecto UVAS
marzo
$11,250
abril
$11,250
Mayo
$11,250
Junio
$11,250
Julio
$11,250
Agosto
$11,250
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,000
$ 3,000
$ 3,000
$ 3,000
$ 3,000
$ 3,000
$ 3,000
$ 1,000
$2,550
($3,600)
$ 1,000
$2,550
($1,050)
$ 1,000
$2,550
$1,500
$ 1,000
$2,550
$4,050
$ 1,000
$2,550
$6,600
$ 1,000
$2,550
$9,150
$ 1,000
$2,550
$11,700
costos fijos
versiones Depreciables
$30,000
astos de Depreciacion
$3,000
unidad
MOD
anual
20.5
36000
seguros
12000
1000 mens
Total fijos
60300
INEA DE PRODUCCION
TABLA DE DEPRECIACION
Deprec Acumu
Vr Libros
Uva
40.5
$3,000
$27,000
Ethanol
25.4
$6,000
$24,000
energa
$9,000
$21,000
Total
$12,000
$18,000
$15,000
$15,000
$18,000
$12,000
$21,000
$9,000
$24,000
$6,000
$27,000
$3,000
$30,000
$0
siones depreciables
$40,000
astos de depreciacin
$2,000
BRAS CIVILES
TABLA DE DEPRECIACION
Deprec Acumu
Vr Libros
$2,000
$38,000
$4,000
$36,000
$6,000
$34,000
$8,000
$32,000
$10,000
$30,000
$12,000
$28,000
$14,000
$26,000
$16,000
$24,000
12300
7.6
73.5
Sept
$11,250
$18,000
$22,000
$20,000
$20,000
$22,000
$18,000
$24,000
$16,000
$26,000
$14,000
$28,000
$12,000
$30,000
$10,000
$32,000
$8,000
$34,000
$6,000
$36,000
$4,000
$38,000
$2,000
$40,000
$0
Capital
Cuota
($5,592.60)
($5,225.57)
$10,818.17
($4,773.98)
($6,044.19)
$10,818.17
($3,827.13)
($6,991.04)
$10,818.17
($2,731.94)
($8,086.22)
$10,818.17
($1,465.19)
($9,352.97)
$10,818.17
OYECTO
2
600
600
600
600
$225.00
$225.00
$225.00
$225.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$173,000.00
$38,000.00
$73.50
$73.50
$73.50
$73.50
$44,100.00
$44,100.00
$44,100.00
$44,100.00
$60,300.00
$60,300.00
$60,300.00
$60,300.00
$104,473.50
$104,473.50
$104,473.50
$104,473.50
$30,526.50
$30,526.50
$30,526.50
$68,526.50
$30,526.50
$30,526.50
$30,526.50
$68,526.50
$3,052.65
$3,052.65
$3,052.65
$6,852.65
$27,473.85
$27,473.85
$27,473.85
$61,673.85
$8,700.00
$27,473.85
$27,473.85
$27,473.85
$70,373.85
a - Efecto de la depreciacin
OYECTO
2
3
600
600
600
600
$225.00
$225.00
$225.00
$225.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$173,000.00
$38,000.00
$73.50
$73.50
$73.50
$73.50
$44,100.00
$44,100.00
$44,100.00
$44,100.00
$60,300.00
$60,300.00
$60,300.00
$60,300.00
$5,000.00
$5,000.00
$5,000.00
$5,000.00
$45,000.00
$109,473.50
$109,473.50
$109,473.50
$154,473.50
$25,526.50
$25,526.50
$25,526.50
$18,526.50
$25,526.50
$25,526.50
$25,526.50
$18,526.50
$2,552.65
$2,552.65
$2,552.65
$1,852.65
$22,973.85
$22,973.85
$22,973.85
$16,673.85
$5,000.00
$5,000.00
$5,000.00
$5,000.00
$45,000.00
$8,700.00
$27,973.85
$27,973.85
$27,973.85
$75,373.85
OYECTO
2
600
600
600
600
$225.00
$225.00
$225.00
$225.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$135,000.00
$173,000.00
$38,000.00
ventas
costo variable
MCT
$73.50
$73.50
$73.50
$73.50
$44,100.00
$44,100.00
$44,100.00
$44,100.00
$60,300.00
$60,300.00
$60,300.00
$60,300.00
$3,000.00
$3,000.00
$3,000.00
Costos fijos
Utilidad
$3,000.00
$45,000.00
$107,473.50
$107,473.50
$107,473.50
$152,473.50
$27,526.50
$27,526.50
$27,526.50
$20,526.50
($4,773.98)
($3,827.13)
($2,731.94)
($1,465.19)
$22,752.52
$23,699.37
$24,794.56
$19,061.31
$2,275.25
$2,369.94
$2,479.46
$1,906.13
$20,477.27
$21,329.44
$22,315.10
$17,155.18
$5,000.00
$5,000.00
$5,000.00
$5,000.00
$45,000.00
P.E
P.E
GAT
MCT/UAI
$8,700.00
$6,044.19
$6,991.04
$8,086.22
$9,352.97
$19,433.08
$19,338.39
$19,228.88
$66,502.20
CUPERACION DE LA INVERSION
Octubre
Noviembre
Diciembre
$11,250
$11,250
$11,250
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,675
$ 1,025
$ 3,000
$ 3,000
$ 3,000
$ 1,000
$2,550
$14,250
$ 1,000
$2,550
$16,800
$ 1,000
$2,550
$19,350
Anual
Mensual
Diario
2,200
183
6
Total ingreso Ao 1
$123,750
Punto de Equilibrio=
$135,000.00
($44,100.00)
90,900.00
0.67 % MCT
($60,300.00)
30,600.00
101,117.80