AGROPERU S.A.

C : FLUJO DE CAJA ECONMICO - FINANCIERO

La empresa proyecta las siguientes ventas:

Ao
Ene
Feb
Ao 1
2,160.00
2,166.00
Ao 2
2,232.00
2,238.00
Ao 3
2,311.00
2,318.00
Ao 4
2,395.00
2,402.00
Ao 5
2,479.00
2,486.00
El precio es de
$4.83
FCA x bolsa
Se sabe que las ventas son con 30 das de crdito

Mar
2,172.00
2,244.00
2,325.00
2,409.00
2,493.00

Abr
2,178.00
2,250.00
2,332.00
2,416.00
2,500.00

Las compras se realizan segn lo que se planea vender en el mes

El costo por bolsa es de
$2.54
(costo total, no incluye IGV)
Los pagos a los proveedores son al contado
Los gastos administrativos son los siguientes
Planilla
$20,935.25
Luz,agua,telf
$1,572.99
Alquiler
$530.42
Otros
$731.62

Anual
Sin IGV
Sin IGV
Sin IGV

Los gastos de ventas son los siguientes

La empresa adquiere al inicio un prstamo de

Ao 1
Inters
$1,656.00
Amortizacin
$1,826.56
Cuota
$3,482.56

Ao 2
$1,217.63
$2,264.93
$3,482.56

$6,900.00
Ao 3
$674.04
$2,808.51
$3,482.56

a
Ao 4

PRESUPUESTO DE RESULTADOS
Ppto de ventas
Cantidad
Precio
TOTAL

Ao 1
26,316.00
$4.83
127,066.09

Ao 2
27,201.00
$4.83
131,339.29

Ao 3
28,194.00
$4.83
136,133.97

Ao 4
29,202.00
$4.83
141,001.07

Ao 1
26,316.00
$2.54
66,714.66

Ao 2
27,201.00
$2.54
68,958.25

Ao 3
28,194.00
$2.54
71,475.64

Ao 4
29,202.00
$2.54
74,031.06

Ao 1
$20,935.25
$1,600.72

Ao 2
$20,935.25
$1,600.72

Ao 3
$20,935.25
$1,600.72

Ao 4
$20,935.25
$1,600.72

Ppto de compras
Cantidad
Costo
TOTAL
Ppto de gastos administrativos
Planilla
Depreciacin

Luz,agua,telf
Alquiler
Otros
Amort. Intangible
TOTAL

$1,572.99
$530.42
$731.62
$423.17
25,794.17

$1,572.99
$530.42
$731.62
$423.17
25,794.17

$1,572.99
$530.42
$731.62
$423.17
25,794.17

$1,572.99
$530.42
$731.62
$423.17
25,794.17

Ao 1
$423.73
$0.00
$5,157.91
$131.08
$3,864.41
$2,141.82
11,718.95

Ao 2
$423.73
$0.00
$5,157.91
$131.08
$3,864.41
$2,213.85
11,790.97

Ao 3
$423.73
$0.00
$5,157.91
$131.08
$3,864.41
$2,294.67
11,871.79

Ao 4
$423.73
$0.00
$5,157.91
$131.08
$3,864.41
$2,376.71
11,953.83

Intereses
TOTAL

Ao 1
$1,656.00
1,656.00

Ao 2
$1,217.63
1,217.63

Ao 3
$674.04
674.04

Ao 4
$0.00
-

Depreciacin
Muebles
Computadoras
Intangible

Ao 1
$100.72
$1,500.00
$423.17

Ao 2
$100.72
$1,500.00
$423.17

Ao 3
$100.72
$1,500.00
$423.17

Ao 4
$100.72
$1,500.00
$423.17

Ppto de gastos de ventas

Pgina web
Muestras
Ferias
Merchandasing
Misiones Comerciales
Gastos de export.
TOTAL
Ppto de gastos financieros

Valor residual

ESTADO DE RESULTADOS AO 1- 5
Ao 1
127,066.09
66,714.66
60,351.44

Ao 2
131,339.29
68,958.25
62,381.04

Ao 3
136,133.97
71,475.64
64,658.32

Ao 4
141,001.07
74,031.06
66,970.01

GASTOS ADMINIST
GASTOS VENTAS
UTILIDAD OPERATIVA

25,794.17
11,718.95
22,838.32

25,794.17
11,790.97
24,795.89

25,794.17
11,871.79
26,992.36

25,794.17
11,953.83
29,222.00

INTERESES
DRAWBACK
UTILIDAD ANTES DE IR

$1,656.00
21,182.32

$1,217.63
23,578.27

$674.04
26,318.32

$0.00
29,222.00

6,354.70

7,073.48

7,895.49

8,766.60

VENTAS
COSTO DE VENTAS
UTILIDAD BRUTA

IMPUESTO RENTA

UTILIDAD NETA

14,827.62

16,504.79

18,422.82

20,455.40

Punto de equilibrio
Costos + gastos fijos
Margen contribucin
Punto de equilibrio

$35,371.30
$2.21
15,991

$35,371.30
$2.21
15,991

$35,371.30
$2.21
15,991

35,371.30
$2.21
15,991

Cuadro drawback
Valor FOB exportado
Drawback (5%)

AO 1

AO 2
131,339.29
-

AO 3
136,133.97
-

AO 4
141,001.07
-

Econmico
VA
VA acumulado

1
AO 1
5,788.42
5,788.42

2
AO 2
15,799.07
21,587.49

3
AO 3
13,158.75
34,746.25

4
AO 4
11,017.77
45,764.01

Financiero
VA
VA acumulado

1
AO 1
3,382.45
3,382.45

2
AO 2
13,744.45
17,126.90

3
AO 3
11,535.95
28,662.85

4
AO 4
11,017.77
39,680.62

Costo

Costo

May
2,184.00
2,256.00
2,339.00
2,423.00
2,507.00

Jun
2,190.00
2,262.00
2,346.00
2,430.00
2,514.00

Jul
2,196.00
2,269.00
2,353.00
2,437.00
2,521.00

Los gastos de ventas son los siguientes

Pgina web
Ferias
Merchandasing
Misiones comerciales
Gastos de export.
3
Ao5

aos

Ago
2,202.00
2,276.00
2,360.00
2,444.00
2,528.00

$423.73
$5,157.91
$131.08
$3,864.41
$0.08

Sep
2,208.00
2,283.00
2,367.00
2,451.00
2,535.00

Sin IGV
Sin IGV
Sin IGV x BOLSA
Sin IGV
Sin IGV

a una tasa (TEA) del

24% anual

Oct
2,214.00
2,290.00
2,374.00
2,458.00
2,542.00

La estructura de inversin es la siguiente

Muebles
Computadoras
Licencias
Gastos notariales
Libros contables+legaliz
otros gastos pre-operativos
Caja y bancos
Inventario

PRESUPUESTO DE CAJA
Ppto de ingreso x ventas
Ao5
30,210.00
$4.83
145,868.17

Cantidad
Precio
TOTAL

Ao 1
24,090.00
$4.83
116,317.91

Ao 2
27,123.00
$4.83
130,962.67

Ao 3
28,110.00
$4.83
135,728.38

Ao 1
26,316.00
$2.99
78,723.30

Ppto de egresos x compras

Ao5
30,210.00
$2.54
76,586.48

Cantidad
Costo
TOTAL

Ao 2
27,201.00
$2.99
81,370.74

Ao 3
28,194.00
$2.99
84,341.26

Ao5
$20,935.25
$100.72

Ppto de egresos por gastos de administracin

Ao 1
Ao 2
Planilla
$20,935.25 $20,935.25
Depreciacin
0
0

Ao 3
$20,935.25
0

$1,572.99
$530.42
$731.62
$423.17
24,294.17

Luz,agua,telf
Alquiler
Otros
Amort. Intangible
TOTAL

$1,856.13
$625.90
$863.31
0
24,280.59

$1,856.13
$625.90
$863.31
0
24,280.59

$1,856.13
$625.90
$863.31
0
24,280.59

Ao5
$423.73
$0.00
$5,157.91
$131.08
$3,864.41
$2,458.75
12,035.87

Ppto de egresos por gastos de ventas

Ao 1
Pgina web
$500.00
Muestras
$0.00
Ferias
$6,086.33
Merchandasing
$154.68
Misiones Comerciales
$4,560.00
Gastos de export.
$2,527.35
TOTAL
13,828.36

Ao 2
$500.00
$0.00
$0.10
$154.68
$4,560.00
$2,612.34
7,827.12

Ao 3
$500.00
$0.00
$0.10
$154.68
$4,560.00
$2,707.71
7,922.48

Ppto de egresos x financiamiento

Ao 1
Intereses
$1,656.00
Amortizacin
$1,826.56
TOTAL
3,482.56

Ao 2
$1,217.63
$2,264.93
3,482.56

Ao 3
$674.04
$2,808.51
3,482.56

Ao 1
$12,008.64
$510.31
$2,109.41

Ao 2
$12,412.49
$510.31
$2,122.38

Ao 3
$12,865.62
$510.31
$2,136.92

14,628.35

15,045.17

15,512.84

Ao5
$0.00
-

Ao5
$100.72 10
4
$423.17 5

Cuadro IGV
IGV compras
IGV Administ.
IGV gastos ventas
TOTAL CRDITO
FISCAL

$503.60
Imp renta sin deuda
Imp renta con deuda
Escudo fiscal

Ao 1
$6,851.50
$6,354.70
496.80

Ao 2
$7,438.77
$7,073.48
365.29

Ao 3
$8,097.71
$7,895.49
202.21

FLUJO DE CAJA ECONMICO - FINANCIERO AO 1 - 5

Ao5
145,868.17
76,586.48
69,281.69
24,294.17
12,035.87
32,951.64
$0.00
32,951.64
9,885.49

Ao 0
Ingreso ventas
Crdito fiscal
Valor residual
DRAWBACK
TOTAL INGRESOS
Inversin
Compras
Gasto Administ
Gasto ventas
IR (sin deuda)
TOTAL EGRESOS
FLUJO ECONMICO

0.00

Ao 1
116,317.91
14,628.35

Ao 2
130,962.67
15,045.17

130,946.27

146,007.84

78,723.30
24,280.59
13,828.36
6,851.50
123,683.74
7,262.53

81,370.74
24,280.59
7,827.12
7,438.77
120,917.22
25,090.62

37,241.01

37,241.01
-37,241.01

23,066.15
Prstamo
Cuota
Escudo fiscal
FLUJO FINANCIERO

6,900.00

-30,341.01

3,482.56
496.80
4,276.77

3,482.56
365.29
21,973.36

1
Ao 0
$6,900.00
$30,341.01

Deuda
Patrimonio

$33,871.30
$2.21
15,313

%deuda
%patrimonio

AO5
145,868.17 0%
-

Kd =
Beta
COK
WACC
Evaluacin econmica
VA
Inversin
VAN =
TIR =

5
AO5
17,914.23
63,678.24

Ao 1
$5,073.44
$45,168.63

2
Ao 2
$2,808.51
$61,673.42

19%
81%

10%
90%

4%
96%

16.8%
4
26.44%
24.65%

25.47%

26.02%

$63,678.24
-37,241.01
$26,437.23
50%

B/C =

1.71

Pay back =
3
X
4

5
AO5
17,914.23
57,594.85

34,746.25
37,241.01
45,764.01

Por interpolacin:
X=
Pay back =
y
Pay back es

3.23 aos
3.00 aos
3 meses
3 aos y 3 meses

Anlisis de Sensibilidad - econmica

1) REALIZAR UN ANLISIS DE SENSIBILIDAD (UNIDIMENSIONAL) PARA LOS SIGUIENTES PRECIOS

Precio
Costo

$26,437.23
$2.54

$3.63
-38,367

$4.03
-12,979

$4.43
6,644

2) REALIZAR UN ANLISS DE SENSIBILIDAD (BIDIMENSIONAL) PARA LAS SIGUIENTES COMBINACIO

Precio

Costo

$26,437.23
$1.74
$2.14
$2.54
$2.94
$3.34

$3.63
11,789
-10,409
-38,367
-68,934
-100,829

$4.03
31,387
9,216
-12,979
-40,918
-70,983

$4.43
50,971
28,814
6,644
-15,547
-43,470

Anlisis de Sensibilidad- financiero

1) REALIZAR UN ANLISIS DE SENSIBILIDAD (UNIDIMENSIONAL) PARA LOS SIGUIENTES PRECIOS

Precio
Costo

$27,253.84
$2.54

$3.63
-37,935

$4.03
-12,040

$4.43
7,510

2) REALIZAR UN ANLISS DE SENSIBILIDAD (BIDIMENSIONAL) PARA LAS SIGUIENTES COMBINACIO

Precio

Costo

$27,253.84
$1.74
$2.14
$2.54
$2.94
$3.34

$3.63
12,627
-9,481
-37,935
-68,749
-99,563

$4.03
32,177
10,069
-12,040
-40,493
-71,308

$4.43
51,727
29,618
7,510
-14,599
-43,052

Nov
2,220.00
2,297.00
2,381.00
2,465.00
2,549.00

Dic
2,226.00
2,304.00
2,388.00
2,472.00
2,556.00

0.31%
0.31%
0.31%
0.31%
0.31%

La estructura de inversin es la siguiente

Muebles
$1,007.19
Computadoras
$6,000.00
Licencias
$350.00 Gastos pre operativos
Gastos notariales
$215.83
$2,115.83
Libros contables+legaliz
$250.00
otros gastos pre-operativos
$1,300.00
Caja y bancos
$11,644.67
Inventario
$16,473.32
Total
$37,241.01

STO DE CAJA
Ao 4
29,118.00
$4.83
140,595.48

Ao 5
30,126.00
$4.83
145,462.58

Ao 4
29,202.00
$2.99
87,356.65

Ao5
30,210.00
$2.99
90,372.05

Ao 4
$20,935.25
0

Ao5
$20,935.25
0

$1,856.13
$625.90
$863.31
0
24,280.59

$1,856.13
$625.90
$863.31
0
24,280.59

Ao 4
$500.00
$0.00
$0.10
$154.68
$4,560.00
$2,804.52
8,019.29

Ao5
$500.00
$0.00
$0.10
$154.68
$4,560.00
$2,901.32
8,116.10

Ao 4
$0.00
$0.00
-

Ao5
$0.00
$0.00
-

Ao 4
$13,325.59
$510.31
$2,151.69

Ao5
$13,785.57
$510.31
$2,166.46

15,987.59

16,462.33

Ao 4
$8,766.60
$8,766.60
-

Ao5
$9,885.49
$9,885.49
-

A ECONMICO - FINANCIERO AO 1 - 5
Ao 3
135,728.38
15,512.84

Ao 4
140,595.48
15,987.59

151,241.22

156,583.06

Ao5
145,462.58
16,462.33
28,621.58
190,546.49

84,341.26
24,280.59
7,922.48
8,097.71
124,642.04
26,599.18

87,356.65
24,280.59
8,019.29
8,766.60
128,423.13
28,159.93

90,372.05
24,280.59
8,116.10
9,885.49
132,654.23
57,892.26

3,482.56
202.21
23,318.83

0.00
0.00
28,159.93

4
Ao 4
$0.00
$100,551.64

Ao 3
$0.00
$80,096.24

0.00
0.00
57,892.26

5
Ao5
$0.00
$123,617.79

0%
100%

0%
100%

0%
100%

26.44%

26.44%

26.44%

Evaluacin Financiera
VA
$57,594.85
Inversin
-30,341.01
VAN =
$27,253.84
TIR =

54%

B/C =

1.90

Pay back =
3
X
4

28,662.85
30,341.01
39,680.62

Por interpolacin:
X=

3.15 aos

Pay back =

3.00 aos
2 meses

y
Pay back es

3 aos y 2 meses

MENSIONAL) PARA LOS SIGUIENTES PRECIOS

Precio
$4.83
26,243

$5.23
45,827

$5.63
65,403

$6.03
84,974

ENSIONAL) PARA LAS SIGUIENTES COMBINACIONES DE PRECIOS Y COSTOS

Precio
$4.83
70,545
48,398
26,243
4,074
-18,114

$5.23
90,114
67,974
45,827
23,672
1,505

$5.63
109,679
87,544
65,403
43,257
21,103

$6.03
129,242
107,109
84,974
62,834
40,688

$5.63
66,159

$6.03
85,709

MENSIONAL) PARA LOS SIGUIENTES PRECIOS

Precio
$4.83
27,060

$5.23
46,609

ENSIONAL) PARA LAS SIGUIENTES COMBINACIONES DE PRECIOS Y COSTOS

Precio
$4.83
71,277
49,168
27,060
4,951
-17,157

$5.23
90,827
68,718
46,609
24,501
2,392

$5.63
110,376
88,268
66,159
44,051
21,942

$6.03
129,926
107,818
85,709
63,600
41,492

ESTRUCTURA DE COSTOS DE EXPORTACIN

Chocolate relleno de arndanos
CONCEPTO
FIJOS
VARIABLES TOTALES
I.COSTO DE PRODUCTO
$4,670.97
1.1 Materia Prima directa
$3,802.80
1.2 Mano de Obra directa
$854.68
RTICULO:

1.3 Costos Indirectos de Fabricacin (Control de

calidad DIGESA)
1.4 Gastos generales y administrativos
II. COSTO DE AYUDA A LACOMERCIALIZACIN
2.1 Ferias
2.2 Pgina web
2.3 Misiones comerciales
2.4 Merchandasing
III. COSTO DE DISTRIBUCIN Y VENTAS
3.1 Envase y Embalaje
3.2 Gastos de ventas
3.3 Marcado de bultos
3.5 Documentos de exportacin: (certificados)
COSTO TOTAL
UTILIDAD 45%
PRECIOS EX-WORKS
PRECIOS EX WORKS UNITARIO
3.6 Gastos de exportacin
3.6.1 Conduccin al puerto - Movilizacin
3.6.2 Gastos operativos
3.6.3 Almacenaje
3.6.4 Precinto
3.6.5 Comisin al agente de aduana
FAS
FAS UNITARIO
3.6.6 Carga y Estiba
3.6.7 Gastos financieros
PRECIO FCA FOB
FOB FCA UNITARIO
IV. FLETE
PRECIO CPT CFR
PRECIO CPT CFR UNITARIO
Seguro
PRECIO CIP CIF
PRECIO CIP CIF UNITARIO
Descarga
PRECIO DAT
PRECIO DAT UNITARIO
VII. Gastos de Importacin

$13.49
$0.00
$0.00

$
$

$0.00
$0.00
$2,382.13
$2,370.33
$0.00
$1.80
$10.00
$7,053.10
$3,173.89
$10,226.99
$4.73
$175.80
$43.00
$0.00
$19.49
$13.31
$100.00
$10,402.79
$4.82
$26.71
$0.00
$10,429.50
$4.83
$410.00
$10,839.50
$5.02
$274.44
$11,113.94
$5.15
$184.17
$11,298.12
$5.23
$55.00

7.1 Conduccin
PRECIO DAP
PRECIO DAP UNITARIO
VIII. Derechos e Impuestos
8.1 Arancel
8.2 Impuesto a la venta 6%
PRECIO DDP
PRECIO DDP UNITARIO

$55.00
$11,353.12
$5.26
$681.19
$0.00
$681.19
$12,034.30
$5.57

LA PRODUCCIN EST DE ACUERDO CON LA DEMANDA O

COSTO DE PRO

PRODUCTO : CHOCOLATES RELLENOS DE ARNDANOS

arandano
azucar

chocolate bitter
etiquetas (serigrafia)
bolsa de aluminio
preservantes
TOTAL
Factura por tercerizacin - MOD y Costos Indirectos de Fabricaci

COSTO UNITARIO DE CHOCOLATE RELLENO DE AR

ON LA DEMANDA O UNIDADES PROYECTADAS A VENDER

COSTO DE PRODUCCIN

antidad a consumirUnidad
por unidad
de medida
Costo Total S/.
140
gr
S/.
3.73
47.6

gr

S/.

0.09

39.2
1
1
1

gr
unidad
unidad
gr

directos de Fabricacin.

S/.
S/.
S/.
S/.
S/.
S/.

1.05
0.25
0.80
0.03
5.95
1.10

E RELLENO DE ARNDANO

2.54

CTADAS A VENDER

Tipo de costo
Costo variable
Costo variable
Costo variable
Costo variable
Costo variable
Costo variable
Costo variable
Costo variable
Costo variable unitario

1Kg de azucar= s/.2.20

150 gr=s/7.99

t. de cambio =
Dolares

Total Materia Prima directa:

Total Tercerizacion:

Gramos
140
1000

2.78

S/.

10,571.79 $

3,802.80

S/.

2,376.00 $
$

854.68
4,657.48

dolares
2.31
16.5

MENSUAL SIN IGV

agua

ANUAL

42.37

508.47 $

182.90

luz

169.49

2033.90 $

731.62

telefono

152.54

1830.51 $

658.46

TOTAL

364.41

Planilla
Luz,agua,telf
Alquiler
Otros

MU

ANUAL $

MENSUAL
ANUAL
S/.
4,850.00 S/. 58,200.00
S/.
364.41 S/.
4,372.92
S/.
122.88 S/.
1,474.58
S/.
169.49 S/.
2,033.90
S/.
5,506.78

CANTIDADES
6
6
2
1

$ 1,572.98

ANUAL $
$ 20,935.25
$ 1,572.99
$
530.42
$
731.62
$ 23,770.29

$
$

DOLARES
5,084.75
73.16

5,157.91

Merchandasing
Muestra de nuestroproducto
Volantes
Tarjetas de contacto

$83.83
$33.53
$13.72
$131.08

Estada x da (2
personas)
Total x la estadia de
los 4 das:

pasajes 2 personas

viticos
TOTAL

MUEBLES
DOLARES
X LAS 6 TRABAJADORES (S/)
600 SILLAS
1500 ESCRITORIO
400 IMPRESORAS
300 MUEBLE P/ARCHIVADORES
1007.19
2800
FERIA
ITEM
LOCAL 3x3 amoblado
PUBLICIDAD
TOTAL

600.00

2,400.00

DLARES
$1,360.00

$800.00
3,864.41

PRECIOS AL POR MAYOR

ARNDANOS
150 GR
140 GR

BOLSAS DE ALUMINIO
S/.
S/.

4.00
3.73

100
1

S/.
S/.

80.00
0.80

S/.
S/.

60.00
0.03

AZUCAR
1000 GR
47.6 GR

1.80
0.09
3.4
47.6

1BOLSA

CHOCOLATE

10
140

BITTER

150 GR
39.2 GR
GR
GR

4
1.05
2.8
39.2

10
140

SERIGRAFIA
1500 BOLSAS
1 BOLSAS

S/.

380
0.25

PRESERVANTES
1000 GR
0.5 GR

SELLADO

CAJAS Y DIVISIONES
1 BOLSA
2160 BOLSAS

S/.
0.65
$ 1,404.00

ENVASE:
S/.

1 CAJA
36 Cajas

1 PALLET

1.05 2160 Bolsas

818.42

$ 2,370.33

0.2

S/.
$

7.95 36 CAJAS
102.95

44.96

S/.

286.20

Resumen de escenario
Valores actuales:

OPTIMISTA

PESIMISTA

Celdas cambiantes:
PRECIO
$4.83
$5.23
$4.43
COSTO
$2.54
$2.14
$2.94
VENTAS
2,160.00
2,260.00
2,060.00
Celdas de resultado:
VAN
$26,242.58
$74,546.23
-$17,858.52
TIR
50%
95%
11%
B/C
1.70
3.11
0.54
Notas: La columna de valores actuales representa los valores de las celdas cambiantes
en el momento en que se cre el Informe resumen de escenario. Las celdas cambiantes de
cada escenario se muestran en gris.

Resumen de escenario
Valores actuales:

OPTIMISTA

PESIMISTA

Celdas cambiantes:
PRECIO
$4.83
$5.23
$4.43
COSTO
$2.54
$2.14
$2.94
VENTAS
2,160.00
2,260.00
2,060.00
Celdas de resultado:
VAN
$27,059.67
$75,285.57
-$17,289.75
TIR
53%
107%
10%
B/C
1.89
3.65
0.46
Notas: La columna de valores actuales representa los valores de las celdas cambiantes
en el momento en que se cre el Informe resumen de escenario. Las celdas cambiantes de
cada escenario se muestran en gris.