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  • Dirección Financiera - Semana 2

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    The document discusses financial indices related to solvency and efficiency. It defines solvency ratios like debt ratio and leverage ratio that measure a company's use of debt versus equity to finance its business. It also defines efficiency ratios like inventory turnover, receivables turnover, and payables turnover that measure how efficiently a company uses its working capital. The document provides examples of how companies can improve these ratios through actions like reducing debt, increasing retained earnings, and optimizing inventory levels and credit terms.

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    The document discusses financial indices related to solvency and efficiency. It defines solvency ratios like debt ratio and leverage ratio that measure a company's use of debt versus equity to finance its business. It also defines efficiency ratios like inventory turnover, receivables turnover, and payables turnover that measure how efficiently a company uses its working capital. The document provides examples of how companies can improve these ratios through actions like reducing debt, increasing retained earnings, and optimizing inventory levels and credit terms.

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    © All Rights Reserved
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    5 views8 pages

    Dirección Financiera - Semana 2

    Uploaded by

    yess
    The document discusses financial indices related to solvency and efficiency. It defines solvency ratios like debt ratio and leverage ratio that measure a company's use of debt versus equity to finance its business. It also defines efficiency ratios like inventory turnover, receivables turnover, and payables turnover that measure how efficiently a company uses its working capital. The document provides examples of how companies can improve these ratios through actions like reducing debt, increasing retained earnings, and optimizing inventory levels and credit terms.

    Copyright:

    © All Rights Reserved
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    of 8

    Bloque: Dirección Financiera

    Módulo 2: Finanzas
    Tec de Monterrey
    Carlos García
    carlos.gc@tec.mx
    Índices de solvencia y eficiencia
    Mide el grado en el que una
    empresa está utilizando su capital
    Solvencia para financiar el negocio a largo ● Razón de Endeudamiento = Total de Pasivos / Total de Activos
    plazo.

    ¿Cómo mejorarlos? ● Razón de Apalancamiento = Total de Pasivos / Capital Total

    ● Vender activos para repagar deudas


    ● Levantar capital (emitir acciones)
    ● Mantener altas las utilidades retenidas
    ● Rotación de Inventarios = Costo de Ventas / Inventario Promedio
    ○ PPV = 360 días / Rotación de Inventarios
    Mide que tan eficiente está siendo
    Eficiencia el capital de trabajo de una ● Rotación de cuentas por cobrar (CxC) = Ventas a Crédito /
    empresa. Cuentas por cobrar promedio
    ○ PPC = 360 días / Rotación de CxC
    ¿Cómo mejorarlos?
    ● Reducir inventarios o introducir sistema JIT ● Rotación de cuentas por pagar (CxP) = Costo de Ventas /
    ● Vender solamente en efectivo (no credito) Cuentas por pagar promedio
    ● Negociar con proveedores para pagar después ○ PPP = 360 días / Rotación de CxP
    What’s your relationship
    with money?
    Financial Management

    Maximize investment return:


    1 ● Total Assets
    ● Equity or Shares Value
    Every company should
    keep in mind this 3
    2 Maximize the company’s value
    concepts in their
    administration
    Maintaining liquidity: the ability to rapidly take
    3 care with the liabilities (resources, payroll, etc.)
    Financial Management

    Asset Management: the amount/quantity


    1 required to invest in order to generate sales
    Decisions related to
    financial management
    may be divided in two: Liabilities administration: the way to obtain the
    2 necessary funds to provide financing to the assets

    Short term: Working Capital


    Long term: Financing
    Financial Management

    Short-term Liabilities
    Net Working Capital Current Assets
    (Current Liabilities)

    ● It means the efficient


    Cash ($$$)
    management of the
    current assets and
    short-term liabilities
    Clients Suppliers
    (Accounts Receivable) (Accounts Payable)
    ● It represents the
    financial cycle in the
    short-term for the
    Sales
    company
    Financial Management
    Examples to understand the Net Working Capital

    ● The company ABC Retailer has $5,400 USD in current assets and $4,800 USD in short term
    liabilities

    ● NWC = $5,400 - $4,800 = $600 USD

    ● This means the company can cover its liabilities in the short term

    ● The company Forex Accounting has $3,000 USD in current assets and $3,250 USD in short term
    liabilities

    ● NWC = $3,000 - $3,250 = -$250 USD

    ● This means Forex Accounting can NO cover its liabilities in the short term
    Working Capital
    Business News

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