EXPORTANDO CARACOLES

PERIODO 0

PERIODO 1

INGRESOS
Precio
Cantidad vendida
Ventas netas (PxQ)
EGRESOS
Inversion total
terrenos
edificios
maquinarias
equipo
cambio en el capital de trabajo
Costos de fabricacion
mano de obra
materia prima
gastos indirectos de fabricacion
depreciacion
pagos de IGV netos (V-C)
Costos de operacin
administracion
ventas

PERIODO 2

20
15000
300000

20
25000
500000

10000
8333
4667
3333.000
117000
30000
84000
3000
24000
0
28000
12000
16000

1000
124500
30000
90000
4500
24000
0
34000
14000
20000

39300
112367

95250
245250

-50000

50000
30000
9000
41367

50000
20000
6000
181250

25%
-200000

112367

245250

200000
30000
90000
55000
20000
5000

participacin de los trabajadores

impuesto a la Renta (30%)
FLUJO DE CAJA ECONMICO
FINANCIAMIENTO NETO
prestamos
amortizacion constante
intereses TEA = 20%
escudo fiscal (0.3xi)
FLUJO DE CAJA FINANCIERO
TASA DE DESCUENTO COK
FLUJO DE CAJA ECONOMICO

-200000
150000

VNA

S/. 310,038.50

PERIODO 3

LIQUIDACION

Valor de
rescate
20
28000
560000

0
138000
36000
96000
6000
24000
0
40000
16000
24000

285333
180000
60000
30000
6000
9333

107400
274600

-45900
239433

50000
10000
3000
217600

514033

239433

EJERCICIO DE FOLKE KAFKA

PERIODO 0
INGRESOS
Costo de inversion
terrenos
edificios
maquinarias
equipo
DEPRECIACION
cambio en el capital de trabajo
Costos de fabricacion
mano de obra
materia prima
gastos indirectos de fabricacion
Costos de operacin
administracion
ventas
impuesto a la Renta (50%)
FLUJO DE CAJA ECONMICO
prestamos
amortizacion e intereses
Amortizacion
Intereses (20%)
escudo fiscal de la deuda
FINANCIAMIENTO NETO
FLUJO DE CAJA FINANCIERO

-S/. 20,000.00
-S/. 2,000.00
-S/. 4,000.00
-S/. 8,000.00
-S/. 3,000.00
-S/. 3,000.00

-S/. 20,000.00

PERIODO 1
S/. 30,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,000.00
-S/. 7,000.00
-S/. 4,000.00
-S/. 2,000.00
-S/. 1,000.00
-S/. 3,000.00
-S/. 1,000.00
-S/. 2,000.00
-S/. 8,250.00
S/. 8,750.00

S/. 12,000.00

S/. 12,000.00
-S/. 8,000.00

-S/.
-S/.
-S/.
-S/.
S/.

6,000.00
2,400.00
1,200.00
7,200.00
1,550.00

PERIODO 2
LIQUIDACION
S/. 60,000.00
S/. 19,900.00
S/. 2,000.00
-S/. 1,000.00
S/. 2,000.00
-S/. 1,000.00
S/. 6,000.00
-S/. 1,500.00
S/. 0.00
-S/. 3,500.00
-S/. 3,900.00
S/. 9,900.00
-S/. 13,000.00
-S/. 8,000.00
-S/. 4,000.00
-S/. 1,000.00
-S/. 3,000.00
-S/. 1,000.00
-S/. 2,000.00
-S/. 20,250.00
S/. 19,850.00
S/. 19,900.00

-S/. 6,000.00
-S/. 1,200.00
-S/. 600.00
-S/. 6,600.00
S/. 13,250.00

S/. 19,900.00

EXPORTANDO CARACOLES

PERIODO 0
INGRESOS
Costo de inversion
terrenos
edificios
maquinarias
equipo
DEPRECIACION
cambio en el capital de trabajo
Costos de fabricacion
mano de obra
materia prima
gastos indirectos de fabricacion
Costos de operacin
administracion
ventas
Gastos financieros
Intereses (20%)
impuesto a la Renta (50%)
UTILIDAD NETA
prestamos
amortizacion e intereses
Amortizacion
FINANCIAMIENTO NETO
FLUJO DE CAJA FINANCIERO

-S/. 20,000.00
-S/. 2,000.00
-S/. 4,000.00
-S/. 8,000.00
-S/. 3,000.00
-S/. 3,000.00

-S/. 20,000.00
S/. 12,000.00

S/. 12,000.00
-S/. 8,000.00

PERIODO 1
S/. 30,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,000.00
-S/. 7,000.00
-S/. 4,000.00
-S/. 2,000.00
-S/. 1,000.00
-S/. 3,000.00
-S/. 1,000.00
-S/. 2,000.00
-S/. 2,400.00
-S/. 2,400.00
-S/. 7,050.00
S/. 7,550.00

-S/. 6,000.00
-S/. 6,000.00
S/. 1,550.00

PERIODO 2
LIQUIDACION
S/. 60,000.00
S/. 19,900.00
S/. 2,000.00
-S/. 1,000.00
S/. 2,000.00
-S/. 1,000.00
S/. 6,000.00
-S/. 1,500.00
S/. 0.00
-S/. 3,500.00
-S/. 3,900.00
S/. 9,900.00
-S/. 13,000.00
-S/. 8,000.00
-S/. 4,000.00
-S/. 1,000.00
-S/. 3,000.00
-S/. 1,000.00
-S/. 2,000.00
-S/. 1,200.00
-S/. 1,200.00
-S/. 19,650.00
S/. 19,250.00
S/. 19,900.00

-S/. 6,000.00
-S/. 6,000.00
S/. 13,250.00

S/. 19,900.00

CASO F: KAFKA FLUJO DE CAJA

MODELO NOPAT
PERIODO 0
INGRESOS
Costo de inversion
terrenos
edificios
maquinarias
equipo
DEPRECIACION
cambio en el capital de trabajo
Costos de fabricacion
UTILIDAD BRUTA
Gastos administrativos
Gasto de ventas
UTILIDAD OPERATIVA
Gastos financieros
Depreciacion
UTILIDAD ANTES DE IMPUESTOS
Impuestos (50%)
UTILIDAD DESPUES DE IMPUESTOS
Depreciacion
FLUJO DE CAJA ECONMICO
prestamos
amortizacion e intereses
Amortizacion
Intereses (20%)
escudo fiscal de la deuda
FINANCIAMIENTO NETO
FLUJO DE CAJA FINANCIERO

-S/. 20,000.00
-S/. 2,000.00
-S/. 4,000.00
-S/. 8,000.00
-S/. 3,000.00
-S/. 3,000.00

-S/. 20,000.00
S/. 12,000.00

S/. 12,000.00
-S/. 8,000.00

PERIODO 1
S/. 30,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,000.00
-S/. 7,000.00
S/. 23,000.00
-S/. 1,000.00
-S/. 2,000.00
S/. 20,000.00
S/. 0.00
-S/. 3,500.00
S/. 16,500.00
-S/. 8,250.00
S/. 8,250.00
S/. 3,500.00
S/. 8,750.00

-S/. 6,000.00
-S/. 2,400.00
-S/. 1,200.00
-S/. 7,200.00
S/. 1,550.00

PERIODO 2
S/. 60,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,900.00
-S/. 13,000.00
S/. 47,000.00
-S/. 1,000.00
-S/. 2,000.00
S/. 44,000.00
S/. 0.00
-S/. 3,500.00
S/. 40,500.00
-S/. 20,250.00
S/. 20,250.00
S/. 3,500.00
S/. 19,850.00

-S/. 6,000.00
-S/. 1,200.00
-S/. 600.00
-S/. 6,600.00
S/. 13,250.00

LIQUIDACION
S/. 19,900.00
S/. 2,000.00
S/. 2,000.00
S/. 6,000.00
S/. 0.00
S/. 9,900.00

S/. 19,900.00

S/. 19,900.00

CASO F: KAFKA FLUJO DE CAJA

MODELO NOPAT
PERIODO 0
INGRESOS
Costo de inversion
terrenos
edificios
maquinarias
equipo
DEPRECIACION
cambio en el capital de trabajo
Costos de fabricacion
UTILIDAD BRUTA
Gastos administrativos
Gasto de ventas
UTILIDAD OPERATIVA
Gastos financieros
Depreciacion
UTILIDAD ANTES DE IMPUESTOS
Impuestos (50%)
UTILIDAD DESPUES DE IMPUESTOS
Depreciacion
UTILIDAD NETA
prestamos
amortizacion e intereses
Amortizacion
FINANCIAMIENTO NETO
FLUJO DE CAJA FINANCIERO

-S/. 20,000.00
-S/. 2,000.00
-S/. 4,000.00
-S/. 8,000.00
-S/. 3,000.00
-S/. 3,000.00

-S/. 20,000.00
S/. 12,000.00

S/. 12,000.00
-S/. 8,000.00

PERIODO 1
S/. 30,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,000.00
-S/. 7,000.00
S/. 23,000.00
-S/. 1,000.00
-S/. 2,000.00
S/. 20,000.00
-S/. 2,400.00
-S/. 3,500.00
S/. 14,100.00
-S/. 7,050.00
S/. 7,050.00
S/. 3,500.00
S/. 7,550.00

-S/. 6,000.00
-S/. 6,000.00
S/. 1,550.00

PERIODO 2
S/. 60,000.00

-S/. 1,000.00
-S/. 1,000.00
-S/. 1,500.00
-S/. 3,500.00
-S/. 3,900.00
-S/. 13,000.00
S/. 47,000.00
-S/. 1,000.00
-S/. 2,000.00
S/. 44,000.00
-S/. 1,200.00
-S/. 3,500.00
S/. 39,300.00
-S/. 19,650.00
S/. 19,650.00
S/. 3,500.00
S/. 19,250.00

-S/. 6,000.00
-S/. 6,000.00
S/. 13,250.00

LIQUIDACION
S/. 19,900.00
S/. 2,000.00
S/. 2,000.00
S/. 6,000.00
S/. 0.00
S/. 9,900.00

S/. 19,900.00

S/. 19,900.00