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COK (modelo estndar CAPM) http://www.bloomberg.

com/markets/rate
bonds/government-bonds/us/
Tasa Libre de Riesgo 3.20%
Beta 1.28 http://pages.stern.nyu.edu/~adamodar/N
me_Page/datafile/Betas.html
Rendimiento del Mercado Esperado 20%

COK = Ri + (Rme-Ri)

COK = 24.70%

Costo Deuda 15%

WACC

WACC = COK x % (Cap/Act) + Ti x % (Pas/Act) x (1-t)

Cap/Act 60%
Pas/Act 40%
(1-t) 0.7

WACC 19%
USAR UNO DE LOS DOS
MTODOS
USAR ESTE

http://www.bloomberg.com/markets/rates- Costo de Capital a partir de la Participacin Acc


bonds/government-bonds/us/ Capital (S/. O US$)
Socia N 1 15,000.00
http://pages.stern.nyu.edu/~adamodar/New_Ho Socia N 2 15,000.00
me_Page/datafile/Betas.html
Socia N 3 20,000.00
Socia N 4 5,000.00

Total 55,000.00

1500

ct) x (1-t)
R ESTE

apital a partir de la Participacin Accionaria


Participacin % Tasa que exige Ponderado
27% 10% 3%
27% 11% 3%
36% 5% 2%
9% 8% 1%

100% 8%
Perodo
Elija el perodo. O anual
o mensual
Flujo de Caja Financiero
Inversin total 70000
Ingresos por Ventas
Costo de Ventas
Utilidad Bruta o MB
Gastos Administrativos
Depreciacin
Gastos de Venta
Utilidad Operativa
Gastos Financieros
Utilidad Antes de Impuestos
Impuestos
Poner la que Utilidad Neta Dmitri Koukharev:
corresponde Aqu va el financiamiento
que obtienen en la parte
Amortizacin de la Deuda del capculo de la cuota 15,000.00
Depreciacin
Tasa de Descuento Flujo de Caja -55,000.00
Anual 8.27%
Mensual 0.66% Descuento del Flujo de Cada
Factor
Valor descontado -55,000.00

VAN Automatico -11,351.00

VAN Mecanico -11,351.00

TIR -2.09%
Ene Feb Mar Abr May Jun Jul Ago
40,000.00 40,000.00 40,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00
76,860.00 - - - - - - -
-36,860.00 40,000.00 40,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00
1,600.00 - - - - - - -
20.00 - - - - - - -
5,420.00 800.00 800.00 140.00 140.00 140.00 140.00 140.00
-43,880.00 39,200.00 39,200.00 6,860.00 6,860.00 6,860.00 6,860.00 6,860.00
150.00 144.44 138.82 133.15 127.42 121.63 115.79 109.89
-44,030.00 39,055.56 39,061.18 6,726.85 6,732.58 6,738.37 6,744.21 6,750.11
11,716.67 11,718.35 2,018.06 2,019.77 2,021.51 2,023.26 2,025.03
-44,030.00 27,338.89 27,342.82 4,708.80 4,712.81 4,716.86 4,720.95 4,725.08

556.10 561.66 567.28 572.95 578.68 584.47 590.31 596.22


20.00 - - - - - - -
-44,566.10 26,777.23 26,775.54 4,135.84 4,134.12 4,132.39 4,130.63 4,128.86

1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00


1.01 1.01 1.02 1.03 1.03 1.04 1.05 1.05
-44,271.89 26,424.85 26,248.75 4,027.71 3,999.45 3,971.38 3,943.49 3,915.78

mensual
Sep Oct Nov Dic Ene Feb Mar Abr
7,000.00 7,000.00 7,000.00 7,000.00 - - - -
- - - - - - - -
7,000.00 7,000.00 7,000.00 7,000.00 - - - -
- - - - - - - -
- - - - - - - -
140.00 140.00 140.00 140.00 - - - -
6,860.00 6,860.00 6,860.00 6,860.00 - - - -
103.92 97.90 91.82 85.68
6,756.08 6,762.10 6,768.18 6,774.32
2,026.82 2,028.63 2,030.45 2,032.30
4,729.25 4,733.47 4,737.73 4,742.03

602.18 608.20 614.28 620.43


- - - -
4,127.07 4,125.27 4,123.44 4,121.60

9.00 10.00 11.00 12.00


1.06 1.07 1.08 1.08
3,888.24 3,860.88 3,833.70 3,806.68
May Jun Jul Ago Sep Oct Nov Dic
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1
Ene
Inversin total S/. 34,698.00

Ingresos por Ventas S/.7,425.00


Costo de Ventas S/.1,635.00
Utilidad Bruta o MB S/.5,790.00
Gastos Administrativos S/.2,550.00
Depreciacin S/.302.50
Gastos de Venta 0
Utilidad Operativa S/.2,937.50
Gastos Financieros 0
Utilidad Antes de Impuestos S/.2,937.50
Impuestos 5% S/.146.88
Utilidad Neta S/.2,790.63

Ingreso S/. -34,698.00 S/.2,790.63

GANANCIA S/. -31,907.38

INVERSIN INICIAL COSTO PREVISTO


FOOD TRUCK S/.18,150.00 S/.17,847.50
Cocina con campana extractora. S/.12,000.00
Cooler 800
Lavadero pequeo 80
Repisas 400
Surtidor de bebidas 1500
Caja registradora 800
1 MESA PLEGABLE Y 2 SILLAS S/.400.00
2 SARTENES PARA CREPES S/.188.00
2 BATIDORAS A MANO S/.60.00
2 BOLS GRANDES ACERADOS S/.200.00
2 COLADERAS ACERADAS S/.100.00
2 ESPATULAS S/.20.00

TOTAL S/.34,698.00

Ene
OPERACIN MENSUAL COSTO PREVISTO
COCINERO S/.1,200.00
CAJERO - ASISTENTE S/.750.00
GAS x 45Kg S/.125.00
UTILES DE LIMPIEZA S/.75.00
AGUA S/.400.00
TOTAL S/.2,550.00

INSUMO diario COSTO TOTAL


S/.5.00
1 Kg HUEVOS S/.6.00
1 Kg AZUCAR S/.5.00
1 Lt LECHE S/.4.00
250 Gr MANTEQUILLA S/.3.00
100 Ml VAINILLA S/.1.50
1/2 Kg SAL S/.5.00
TOTAL S/.54.50
PRECIO DE VENTA

Insumo mensual (30 dias)


1 Kg HARINA DE TRIGO S/.150.00
1 Kg HUEVOS S/.180.00
1 Kg AZUCAR S/.150.00
1 Lt LECHE S/.120.00
250 Gr MANTEQUILLA S/.90.00
100 Ml VAINILLA S/.45.00
1/2 Kg SAL S/.150.00
TOTAL S/.1,635.00
PRECIO DE VENTA

VENTAS MENSUALES EN PORCIONES 45

PRECIO PORCION PORCIONES DIA DIAS MES


S/.5 50 30
3 CREPRES = 1 PORCION

crepes 48 =

VENTA AL DIA
24 S/. 21.33
48 S/. 54.00
96 S/. 108.00
192 S/. 216.00
2 3 4 5 6 7
Feb Mar Abr May Jun Jul
0

S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00


S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00
S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00
S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50
0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88
S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/. -29,116.75 S/. -26,326.13 S/. -23,535.50 S/. -20,744.88 ### S/. -15,163.63

S/.17,545.00 S/.17,242.50 S/.16,940.00 S/.16,637.50 S/.16,335.00 S/.16,032.50


Feb Mar Abr May Jun Jul

S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00


S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00
S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00
S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00
S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00

COSTO PORCIN*
S/.0.30
S/.0.36
S/.0.30
S/.0.24
S/.0.18
S/.0.09
S/.0.30
S/.3.30
S/.4.95 50%

S/.9.00
S/.10.80
S/.9.00
S/.7.20
S/.5.40
S/.2.70
S/.9.00
S/.99.00
S/.149

S/.60.00 30

7425
precios basados en
16 porciones

8
16
32
64
8 9 10 11 12 13 14
Ago Sep Oct Nov Dic Ene Feb

S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00


S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00
S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00
S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50
0 0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
0 0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88
S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/. -12,373.00 S/. -9,582.38 S/. -6,791.75 S/. -4,001.13 S/. -1,210.50 S/. 1,580.13 S/. 4,370.75

S/.15,730.00 S/.15,427.50 S/.15,125.00 S/.14,822.50 S/.14,520.00 S/.14,217.50 S/.13,915.00


Ago Sep Oct Nov Dic Ene Feb

S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00


S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00
S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00
S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00
S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00
15 16 17 18 19 20 21
Mar Abr May Jun Jul Ago Sep

S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00 S/.7,425.00


S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00 S/.1,635.00
S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00 S/.5,790.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00
S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50 S/.302.50
0 0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
0 0 0 0 0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50 S/.2,937.50
S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88 S/.146.88
S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63 S/.2,790.63

S/. 7,161.38 S/. 9,952.00 S/. 12,742.63 S/. 15,533.25 S/. 18,323.88 S/. 21,114.50 S/. 23,905.13

S/.13,612.50 S/.13,310.00 S/.13,007.50 S/.12,705.00 S/.12,402.50 S/.12,100.00 S/.11,797.50


Mar Abr May Jun Jul Ago Sep

S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00 S/.1,200.00


S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00 S/.750.00
S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00 S/.125.00
S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00 S/.75.00
S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00 S/.400.00
S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00 S/.2,550.00
22 23 24
Oct Nov Dic

S/.7,425.00 S/.7,425.00 S/.7,425.00


S/.1,635.00 S/.1,635.00 S/.1,635.00
S/.5,790.00 S/.5,790.00 S/.5,790.00
S/.2,550.00 S/.2,550.00 S/.2,550.00
S/.302.50 S/.302.50 S/.302.50
0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50
0 0 0
S/.2,937.50 S/.2,937.50 S/.2,937.50
S/.146.88 S/.146.88 S/.146.88
S/.2,790.63 S/.2,790.63 S/.2,790.63

S/.2,790.63 S/.2,790.63 S/.2,790.63

S/. 26,695.75 S/. 29,486.38 S/. 32,277.00

S/.11,495.00 S/.11,192.50 S/.10,890.00


Oct Nov Dic

S/.1,200.00 S/.1,200.00 S/.1,200.00


S/.750.00 S/.750.00 S/.750.00
S/.125.00 S/.125.00 S/.125.00
S/.75.00 S/.75.00 S/.75.00
S/.400.00 S/.400.00 S/.400.00
S/.2,550.00 S/.2,550.00 S/.2,550.00
PESIMISTA NORMAL OPTIMIS

30 50 80
ene feb mar abr may jun

Precio 100.00 100.00 100.00 100.00 100.00 100.00


Cantidad 400.00 400.00 400.00 70.00 70.00 70.00
Tasa de Crec -
Redondeado
Ventas 40,000.00 40,000.00 40,000.00 7,000.00 7,000.00 7,000.00
jul ago sep oct nov dic ene feb

100.00 100.00 100.00 100.00 100.00 100.00


70.00 70.00 70.00 70.00 70.00 70.00

7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00


mar abr may jun jul ago sep oct
nov dic
ene feb mar abr

Fabricacin Unitario 40.00 40.00 40.00 40.00


Unidades 1,830.00
Total 73,200.00
Mochilas de Yute Unitario 2.00
Total 3,660.00
Costo 76,860.00 - - -
may jun jul ago sep oct nov dic

40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00

- - - - - - - -
ene feb mar abr may jun jul ago

40.00 40.00 40.00 40.00 40.00 40.00 40.00 0.35

- 0 0 0 0 0 0 0
sep oct nov dic

0.35 0.35 0.35 0.35

0 0 0 0
ene feb mar abr may

Gastos de Venta
Flete 400.00
Recojo 20.00

Empaque 300.00 En el caso de zapatos no hay mas gas


Gastos en imprimir catalogos 1,300.00
Imprimir los volantes 400.00
Costos para la feria 3,000.00
Sub Total 5,420.00
Administrativos
Crear un sitio web 1,600.00
Sueldos?
Otros?
Luz?
Almacen?

Sub Total 1,600.00

7,020.00
jun jul ago sep oct nov dic ene

tos no hay mas gastos? Ni de envio?


feb mar abr may jun jul ago sep
oct nov dic
Factor / Formula: i(1+i) ^n/
Capital 15,000.00 (1+i) ^n-1
Tasa Mens 1%

Num de Cuota 24

Factor 0.0471

ene feb mar abr may


Saldo Capital 15,000.00 14,443.90 13,882.23 13,314.96 12,742.00 12,163.32
Cuota 706.10 706.10 706.10 706.10 706.10
Amortizacin 556.10 561.66 567.28 572.95 578.68
Inters 150.00 144.44 138.82 133.15 127.42
jun jul ago sep oct nov dic ene
11,578.85 10,988.54 10,392.32 9,790.14 9,181.94 8,567.66 7,947.23 7,320.60
706.10 706.10 706.10 706.10 706.10 706.10 706.10 706.10
584.47 590.31 596.22 602.18 608.20 614.28 620.43 626.63
121.63 115.79 109.89 103.92 97.90 91.82 85.68 79.47
feb mar abr may jun jul ago sep
6,687.71 6,048.48 5,402.87 4,750.79 4,092.20 3,427.02 2,755.19 2,076.64
706.10 706.10 706.10 706.10 706.10 706.10 706.10 706.10
632.90 639.23 645.62 652.07 658.59 665.18 671.83 678.55
73.21 66.88 60.48 54.03 47.51 40.92 34.27 27.55
oct nov dic
1,391.30 699.11 0.00
706.10 706.10 706.10
685.34 692.19 699.11
20.77 13.91 6.99