ALICORP SA

Ventas reales
Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07
1,000.00 950.00 980.00 1,200.00 1,100.00 1,150.00
VENTAS TOTALES 3,280

Cobranzas: 50% en el mes, el 50% mes siguiente

50%
Nov-06 500 500
Dec-06 475 475
Jan-07 490 490
Feb-07 600 600
Mar-07 550
Apr-07
Cobros ene-mar 07 965 1090 1150

Cuentas por cobrar al 31 de marzo 2007 550

Compras materia prima

40% Representan el 40% de las ventas mensuales y se reciben un mes antes de las ventas
Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07
400 380 392 480 440 460
Materia Prima 1,252 1,312
OTROS INGRESOS 60

Pagos de materia prima

Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07
400.00 380.00 392.00 480.00 440.00

Cuentas por pagar al 31 de marzo 2007 440.00

Gastos de Mano de Obra ( desembolsos)

Jan-07 Feb-07 Mar-07
300.00 300.00 300.00
900.00

Gastos por depreciacin de activos

Jan-07 Feb-07 Mar-07
Activo Fijo 20 20 20
Leasing 3 3 3
68
Costo de produccin = Compra Materia prima + M. obra + depreciacin 2,280.00
Costo de produccin= 2,280

Gastos de venta, administracin y otros desembolsos

Jan-07 Feb-07 Mar-07
ventas 70 70 70
administracin 30 30 30
100 100 100 300

Presupuesto de caja enero a marzo 2007- Poltica : Caja mnima S/50

Jan-07 Feb-07 Mar-07 Acumulado
Cobranza 965 1090 1150 3205

Pagos materia prima 380 392 480 1252

Pagos de mano de obra 300 300 300 900
Pagos gastos ventas y adm 100 100 100 300
Total egresos 780 792 880 2452

Caja inicial 170 355 653 923

Movimiento operativo 185 298 270 753
Caja final operativa 355 653 923 1676

Prstamos bancario 0 0 0 0
Pago de intereses 0 0 0 0
Caja final financiada 355 653 923 1676
 May-07

May-07

May-07
460.00
 INFORMACIN N Cuotas
Cuota inicial 40,000.00 CI
Comisin de Estructuracin 100.00 1
Opcin de Cimpra 16,000.00 2
TEA 8.00% 3
TEA Seguro Gravamen 0.75% 4
N Cuotas 60.00 Meses 5
Fecha de Activacin 1/1/2017 6
Primera Cuota 2/1/2017 7
8
Bien + Seguro 9
Precio de Venta 180,000.00 10
Valor de Venta 200,000.00 11
Capital Financiado 160,000.00 12
((1+)^((1+)^(/) )1)100
TEM 0.64% 13
Monto Inters 1,029.44 14
(1+) ^ /((1+)^1))
Cuota 3,222.89 15
Capital Amortizado 2,193.44 ((1+)^((1+)^(/) )1)100 16
TEA a TEM Seg. Desgravamen 0.0625% 17
18
19
AF 160,000 20
obl. Finan 160,000 21
DEPRECIACIN ENR-MAR 22
20% 3 23
3 24
3 25
TOTAL 8 26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
OC
 Capital Amortizacin Inters Cuota IGV Seguro Total a Pagar Mes
40,000.00 7,200.00 47,200.00
160,000.00 2,193.44 1,029.44 3,222.89 580.12 100.06 3,903.06
157,806.56 2,207.56 1,015.33 3,222.89 580.12 98.68 3,901.69
155,599.00 2,221.76 1,001.13 3,222.89 580.12 97.30 3,900.31
153,377.24 2,236.05 986.83 3,222.89 580.12 95.91 3,898.92
151,141.18 2,250.44 972.45 3,222.89 580.12 94.52 3,897.52
148,890.74 2,264.92 957.97 3,222.89 580.12 93.11 3,896.12
146,625.82 2,279.49 943.39 3,222.89 580.12 91.69 3,894.70
144,346.33 2,294.16 928.73 3,222.89 580.12 90.27 3,893.27
142,052.17 2,308.92 913.97 3,222.89 580.12 88.83 3,891.84
139,743.25 2,323.78 899.11 3,222.89 580.12 87.39 3,890.40
137,419.47 2,338.73 884.16 3,222.89 580.12 85.93 3,888.94
135,080.74 2,353.78 869.11 3,222.89 580.12 84.47 3,887.48
132,726.97 2,368.92 853.97 3,222.89 580.12 83.00 3,886.01
130,358.05 2,384.16 838.73 3,222.89 580.12 81.52 3,884.53
127,973.89 2,399.50 823.39 3,222.89 580.12 80.03 3,883.04
125,574.39 2,414.94 807.95 3,222.89 580.12 78.53 3,881.54
123,159.45 2,430.48 792.41 3,222.89 580.12 77.02 3,880.03
120,728.97 2,446.11 776.77 3,222.89 580.12 75.50 3,878.51
118,282.85 2,461.85 761.04 3,222.89 580.12 73.97 3,876.98
115,821.00 2,477.69 745.20 3,222.89 580.12 72.43 3,875.44
113,343.31 2,493.63 729.25 3,222.89 580.12 70.88 3,873.89
110,849.67 2,509.68 713.21 3,222.89 580.12 69.32 3,872.33
108,340.00 2,525.83 697.06 3,222.89 580.12 67.75 3,870.76
105,814.17 2,542.08 680.81 3,222.89 580.12 66.17 3,869.18
103,272.09 2,558.43 664.46 3,222.89 580.12 64.58 3,867.59
100,713.66 2,574.89 647.99 3,222.89 580.12 62.98 3,865.99
98,138.76 2,591.46 631.43 3,222.89 580.12 61.37 3,864.38
95,547.30 2,608.13 614.75 3,222.89 580.12 59.75 3,862.76
92,939.17 2,624.92 597.97 3,222.89 580.12 58.12 3,861.13
90,314.25 2,641.80 581.08 3,222.89 580.12 56.48 3,859.49
87,672.45 2,658.80 564.09 3,222.89 580.12 54.83 3,857.83
85,013.65 2,675.91 546.98 3,222.89 580.12 53.16 3,856.17
82,337.74 2,693.13 529.76 3,222.89 580.12 51.49 3,854.50
79,644.61 2,710.45 512.44 3,222.89 580.12 49.81 3,852.81
76,934.16 2,727.89 495.00 3,222.89 580.12 48.11 3,851.12
74,206.27 2,745.44 477.45 3,222.89 580.12 46.40 3,849.41
71,460.83 2,763.11 459.78 3,222.89 580.12 44.69 3,847.70
68,697.72 2,780.89 442.00 3,222.89 580.12 42.96 3,845.97
65,916.83 2,798.78 424.11 3,222.89 580.12 41.22 3,844.23
63,118.06 2,816.79 406.10 3,222.89 580.12 39.47 3,842.48
60,301.27 2,834.91 387.98 3,222.89 580.12 37.71 3,840.72
57,466.36 2,853.15 369.74 3,222.89 580.12 35.94 3,838.94
54,613.21 2,871.51 351.38 3,222.89 580.12 34.15 3,837.16
51,741.71 2,889.98 332.91 3,222.89 580.12 32.36 3,835.37
48,851.73 2,908.58 314.31 3,222.89 580.12 30.55 3,833.56
45,943.15 2,927.29 295.60 3,222.89 580.12 28.73 3,831.74
43,015.86 2,946.12 276.77 3,222.89 580.12 26.90 3,829.91
40,069.74 2,965.08 257.81 3,222.89 580.12 25.06 3,828.07
37,104.66 2,984.16 238.73 3,222.89 580.12 23.20 3,826.21
34,120.50 3,003.36 219.53 3,222.89 580.12 21.34 3,824.35
31,117.15 3,022.68 200.21 3,222.89 580.12 19.46 3,822.47
28,094.47 3,042.13 180.76 3,222.89 580.12 17.57 3,820.58
25,052.34 3,061.70 161.19 3,222.89 580.12 15.67 3,818.68
21,990.64 3,081.40 141.49 3,222.89 580.12 13.75 3,816.76
18,909.24 3,101.23 121.66 3,222.89 580.12 11.82 3,814.83
15,808.01 3,121.18 101.71 3,222.89 580.12 9.89 3,812.89
12,686.83 3,141.26 81.63 3,222.89 580.12 7.93 3,810.94
9,545.57 3,161.47 61.42 3,222.89 580.12 5.97 3,808.98
6,384.10 3,181.81 41.08 3,222.89 580.12 3.99 3,807.00
3,202.29 3,202.29 20.60 3,222.89 580.12 2.00 3,805.01
16,000.00 2,880.00 - 18,880.00
Saldo Capital
160,000.00
157,806.56
155,599.00
153,377.24
151,141.18
148,890.74
146,625.82
144,346.33
142,052.17
139,743.25
137,419.47
135,080.74
132,726.97
130,358.05
127,973.89
125,574.39
123,159.45
120,728.97
118,282.85
115,821.00
113,343.31
110,849.67
108,340.00
105,814.17
103,272.09
100,713.66
98,138.76
95,547.30
92,939.17
90,314.25
87,672.45
85,013.65
82,337.74
79,644.61
76,934.16
74,206.27
71,460.83
68,697.72
65,916.83
63,118.06
60,301.27
57,466.36
54,613.21
51,741.71
48,851.73
45,943.15
43,015.86
40,069.74
37,104.66
34,120.50
31,117.15
28,094.47
25,052.34
21,990.64
18,909.24
15,808.01
12,686.83
9,545.57
6,384.10
3,202.29
0.00
-
 ESTADO DE SITUACIN FINANCIERA PROYECTADO AL 31.03.2017
12/31/2016 3/31/2017 12/31/2016
Efectivo y equivalente de Efe 170 1676 Cuentas por Pagar 380
Cuentas por Cobrar 530 550 Prstamos Bancarios 400
Inventarios Materia Prima 360 360 Otros Pasivos a Corrientes 312
Inventario Prod. Terminad 185 185 Deuda No Corriente 450
Activo Fijo Neto 1836 1,928 Capital Social 100
Resultados acumulados 1439

3,081 4,699 3,081

 ESTADO DE RESULTADOS
3/31/2017
440.00 VENTAS 3280
400 COSTO VENTAS - 2,280
312 U. BRUTA 1000
640 G. OPERATIVOS
711 GASTOS VENTAS -210
2,196 GASTOS ADMINISTRACIN -90
U. OPERATIVA 700
4,699 +- OTROS INGRESOS EGRESOS
ING. FINANCIEROS 60
GAS. FINANCIEROS - 3
UAIR 757
 WACC=D/(D+E)*Kd*(1-t)+E/(D+E)*KE
CCE=CO-PPP D 38%
CO=PPI+PPCxC E 62%
PPI 58 Kd 8%
PPCxC 61 Ke
CO 119 Ke=rl+B*(rm-rl)
PPP 70 B=Bl*(1+(1-t)*D/E)
CCE 48 rl 3%
CAPITAL DE TRABAJO DICIEMBRE MARZO rm 11%
CT=AC-PC 153 1,679 t 30%
FONDO DE MANIOBRA 153 1,619 Bl 0.97
B 1.39
Ke 14%
E)*Kd*(1-t)+E/(D+E)*KE WACC 10.86% ESTRUCTURA PTIMA
D 1,792
E 2,907
EO 62%

apalancado
Hipoteca con carencia
1. Datos iniciales
EXIMPORT SA
Capital $923,000.00
Plazo 10 aos
Tipo inters 8.20% Anual
Aos de carencia 1

Resultados si la hipoteca si hiciera sin carencia

Inters mensual: 0.6589%
Cuota mensual: $11,153.26
Numero de Cuotas: $120.00
Total a pagar: $1,338,390.93
Intereses: $415,390.93

Resultado real:
Cuota mensual
durante el periodo de
carencia $6,081.84
Cuota despues del
periodo de carencia $11,971.85
Total a pagar: $1,365,942.23
Intereses: $442,942.23

Cuadro de amortizacin hipoteca con carencia

Ao Mes Cuota Inters Amortizacin Capital Pendiente
0 0 $923,000.00
1 1 $6,081.84 $6,081.84 $0.00 $923,000.00
1 2 $6,081.84 $6,081.84 $0.00 $923,000.00
1 3 $6,081.84 $6,081.84 $0.00 $923,000.00
1 4 $6,081.84 $6,081.84 $0.00 $923,000.00
1 5 $6,081.84 $6,081.84 $0.00 $923,000.00
1 6 $6,081.84 $6,081.84 $0.00 $923,000.00
1 7 $6,081.84 $6,081.84 $0.00 $923,000.00
1 8 $6,081.84 $6,081.84 $0.00 $923,000.00
1 9 $6,081.84 $6,081.84 $0.00 $923,000.00
1 10 $6,081.84 $6,081.84 $0.00 $923,000.00
1 11 $6,081.84 $6,081.84 $0.00 $923,000.00
1 12 $6,081.84 $6,081.84 $0.00 $923,000.00
2 13 $11,971.85 $6,081.84 $5,890.01 $917,109.99
2 14 $11,971.85 $6,043.03 $5,928.82 $911,181.17
2 15 $11,971.85 $6,003.97 $5,967.89 $905,213.28
2 16 $11,971.85 $5,964.64 $6,007.21 $899,206.07
2 17 $11,971.85 $5,925.06 $6,046.79 $893,159.28
2 18 $11,971.85 $5,885.22 $6,086.64 $887,072.64
2 19 $11,971.85 $5,845.11 $6,126.74 $880,945.90
2 20 $11,971.85 $5,804.74 $6,167.11 $874,778.79
2 21 $11,971.85 $5,764.10 $6,207.75 $868,571.04
2 22 $11,971.85 $5,723.20 $6,248.65 $862,322.38
2 23 $11,971.85 $5,682.03 $6,289.83 $856,032.56
2 24 $11,971.85 $5,640.58 $6,331.27 $849,701.28
3 25 $11,971.85 $5,598.86 $6,372.99 $843,328.29
3 26 $11,971.85 $5,556.87 $6,414.98 $836,913.31
3 27 $11,971.85 $5,514.60 $6,457.25 $830,456.06
3 28 $11,971.85 $5,472.05 $6,499.80 $823,956.25
3 29 $11,971.85 $5,429.22 $6,542.63 $817,413.62
3 30 $11,971.85 $5,386.11 $6,585.74 $810,827.88
3 31 $11,971.85 $5,342.72 $6,629.14 $804,198.75
3 32 $11,971.85 $5,299.04 $6,672.82 $797,525.93
3 33 $11,971.85 $5,255.07 $6,716.79 $790,809.14
3 34 $11,971.85 $5,210.81 $6,761.04 $784,048.10
3 35 $11,971.85 $5,166.26 $6,805.59 $777,242.51
3 36 $11,971.85 $5,121.42 $6,850.44 $770,392.07
4 37 $11,971.85 $5,076.28 $6,895.58 $763,496.49
4 38 $11,971.85 $5,030.84 $6,941.01 $756,555.48
4 39 $11,971.85 $4,985.10 $6,986.75 $749,568.73
4 40 $11,971.85 $4,939.07 $7,032.79 $742,535.95
4 41 $11,971.85 $4,892.73 $7,079.13 $735,456.82
4 42 $11,971.85 $4,846.08 $7,125.77 $728,331.05
4 43 $11,971.85 $4,799.13 $7,172.72 $721,158.33
4 44 $11,971.85 $4,751.87 $7,219.99 $713,938.34
4 45 $11,971.85 $4,704.29 $7,267.56 $706,670.78
4 46 $11,971.85 $4,656.40 $7,315.45 $699,355.33
4 47 $11,971.85 $4,608.20 $7,363.65 $691,991.68
4 48 $11,971.85 $4,559.68 $7,412.17 $684,579.50
5 49 $11,971.85 $4,510.84 $7,461.01 $677,118.49
5 50 $11,971.85 $4,461.68 $7,510.18 $669,608.32
5 51 $11,971.85 $4,412.19 $7,559.66 $662,048.65
5 52 $11,971.85 $4,362.38 $7,609.47 $654,439.18
5 53 $11,971.85 $4,312.24 $7,659.61 $646,779.57
5 54 $11,971.85 $4,261.77 $7,710.08 $639,069.48
5 55 $11,971.85 $4,210.96 $7,760.89 $631,308.59
5 56 $11,971.85 $4,159.83 $7,812.03 $623,496.57
5 57 $11,971.85 $4,108.35 $7,863.50 $615,633.06
5 58 $11,971.85 $4,056.54 $7,915.32 $607,717.75
5 59 $11,971.85 $4,004.38 $7,967.47 $599,750.28
5 60 $11,971.85 $3,951.88 $8,019.97 $591,730.31
6 61 $11,971.85 $3,899.04 $8,072.82 $583,657.49
6 62 $11,971.85 $3,845.84 $8,126.01 $575,531.48
6 63 $11,971.85 $3,792.30 $8,179.55 $567,351.93
6 64 $11,971.85 $3,738.40 $8,233.45 $559,118.48
6 65 $11,971.85 $3,684.15 $8,287.70 $550,830.77
6 66 $11,971.85 $3,629.54 $8,342.31 $542,488.46
6 67 $11,971.85 $3,574.57 $8,397.28 $534,091.18
6 68 $11,971.85 $3,519.24 $8,452.61 $525,638.57
6 69 $11,971.85 $3,463.54 $8,508.31 $517,130.26
6 70 $11,971.85 $3,407.48 $8,564.37 $508,565.89
6 71 $11,971.85 $3,351.05 $8,620.80 $499,945.08
6 72 $11,971.85 $3,294.24 $8,677.61 $491,267.47
7 73 $11,971.85 $3,237.07 $8,734.79 $482,532.69
7 74 $11,971.85 $3,179.51 $8,792.34 $473,740.34
7 75 $11,971.85 $3,121.58 $8,850.28 $464,890.07
7 76 $11,971.85 $3,063.26 $8,908.59 $455,981.47
7 77 $11,971.85 $3,004.56 $8,967.29 $447,014.18
7 78 $11,971.85 $2,945.47 $9,026.38 $437,987.80
7 79 $11,971.85 $2,885.99 $9,085.86 $428,901.94
7 80 $11,971.85 $2,826.13 $9,145.73 $419,756.21
7 81 $11,971.85 $2,765.86 $9,205.99 $410,550.22
7 82 $11,971.85 $2,705.20 $9,266.65 $401,283.57
7 83 $11,971.85 $2,644.14 $9,327.71 $391,955.86
7 84 $11,971.85 $2,582.68 $9,389.17 $382,566.69
8 85 $11,971.85 $2,520.81 $9,451.04 $373,115.65
8 86 $11,971.85 $2,458.54 $9,513.31 $363,602.33
8 87 $11,971.85 $2,395.85 $9,576.00 $354,026.34
8 88 $11,971.85 $2,332.75 $9,639.10 $344,387.24
8 89 $11,971.85 $2,269.24 $9,702.61 $334,684.62
8 90 $11,971.85 $2,205.31 $9,766.54 $324,918.08
8 91 $11,971.85 $2,140.95 $9,830.90 $315,087.18
8 92 $11,971.85 $2,076.18 $9,895.68 $305,191.50
8 93 $11,971.85 $2,010.97 $9,960.88 $295,230.62
8 94 $11,971.85 $1,945.34 $10,026.52 $285,204.11
8 95 $11,971.85 $1,879.27 $10,092.58 $275,111.53
8 96 $11,971.85 $1,812.77 $10,159.08 $264,952.44
9 97 $11,971.85 $1,745.83 $10,226.02 $254,726.42
9 98 $11,971.85 $1,678.45 $10,293.41 $244,433.01
9 99 $11,971.85 $1,610.62 $10,361.23 $234,071.78
9 100 $11,971.85 $1,542.35 $10,429.50 $223,642.27
9 101 $11,971.85 $1,473.63 $10,498.23 $213,144.05
9 102 $11,971.85 $1,404.45 $10,567.40 $202,576.65
9 103 $11,971.85 $1,334.82 $10,637.03 $191,939.61
9 104 $11,971.85 $1,264.73 $10,707.12 $181,232.49
9 105 $11,971.85 $1,194.18 $10,777.67 $170,454.82
9 106 $11,971.85 $1,123.16 $10,848.69 $159,606.13
 9 107 $11,971.85 $1,051.68 $10,920.17 $148,685.95
9 108 $11,971.85 $979.72 $10,992.13 $137,693.82
10 109 $11,971.85 $907.29 $11,064.56 $126,629.26
10 110 $11,971.85 $834.39 $11,137.47 $115,491.80
10 111 $11,971.85 $761.00 $11,210.85 $104,280.95
10 112 $11,971.85 $687.13 $11,284.72 $92,996.22
10 113 $11,971.85 $612.77 $11,359.08 $81,637.14
10 114 $11,971.85 $537.92 $11,433.93 $70,203.21
10 115 $11,971.85 $462.58 $11,509.27 $58,693.94
10 116 $11,971.85 $386.75 $11,585.11 $47,108.84
10 117 $11,971.85 $310.41 $11,661.44 $35,447.40
10 118 $11,971.85 $233.57 $11,738.28 $23,709.11
10 119 $11,971.85 $156.22 $11,815.63 $11,893.48
10 120 $11,971.85 $78.37 $11,893.48 $0.00
a con carencia