A

1
2
3
4
5
6
7

Vida util
1 hectolitro (hl) =
Impuesto a las ventas
Impuesto a la renta
Per: Envase
Brasil: BigBag
SUNAT: Pago

1
2,500

2
4,300

3
4,950

2,500

4,300

4,950

1
8%
500,000
5%
25,000

2
8%
540,000
6%
32,400

3
8%
583,200
9%
52,488

10 aos
100 litros (lt)
19%
30%
0.5 lt ( 500 ml )
5 hl
1/12 ao anterior
11/12 ao actual

8
9
10 Mercado Per
11 Ventas hl
12 Regresion lineal (lt 4 aos): Pendiente
13 Ventas hl

525

14
15 Mercado Brasil
16 Tasa crecimiento
17 Mercado hl
18 Tasa de participacin
19 Ventas hl
20
21 Poltica de Ventas
22 Per
23 Brasil
24

PrecioVta
1.2
900

25 Costo de ventas
26 Fijos

80,000 anuales
0.50% ventas

27 Variables
28
29 Produccin
30 Materia prima (sin igv)
31 Maca (kg)
32 Jarabe (lts)

PrecioVta x hl
ValorVta x hl
Distribucin
ValorVta x hl
240.00
201.68
5%
192.08
180.00
151.26
0%
151.26

Cst.Und

Cant

0.4
0.5

60
40

Cst x hl
64
24
20

A
33 Otros para cada hl
34

20

20

35 Mano Obra
36 Costo de mano de obra
37 Horas hombre

5.2
2.6
2

x hl
hh / hl
h

38
39 Embotellado (sin igv)
40 Per: Envases
41 Brasil: BigBag
42
43 Gastos de Administracion
44 Mensual
45 Anual
46

Cst.Und
100
80

1
1,000,000

49

52 Depreciables

Cst x hl
20
16

75,000
900,000

47 Comunicacin
48 Campaa publicitaria
50 Inversiones
51 Inversion

Botellas
1000

1,600,000

2
800,000

3
300,000

A
53 Depreciacion
54 Terreno

10 aos
1,600,000

55
56 Polticas de compras e inventarios
57 La materia prima se compra un ao antes. No hay crdito
58 Inventario de productos terminados
1/12 vtas sgte aos
59
11/12 mismo ao
60
61 Financiamiento
62 Capital propio
63 Capital / ( Deuda + Capital )
64 Aporte inicial

40%
1,600,000

65
66 Deuda
67 Deuda / ( Deuda + Capital )
68 Deuda
69 KD
70 KD (despus de Tx)

60%
960,000
10%
7.00%

71
72 CAPM
73 proy (apalancado)

3.00

74
75 rRiesgo Pas (Per)

2.50%

76 rf (USA BonosTesoro en 5 aos)

2.00%

77 rM (USA)

8.00%

78 rf (USA BonosTesoro: Rendimientos Geomtricos Promedios)

5.00%

79
80 KE(PER)
81 CPPC = Ko
82
83

13.50%
9.600%

A
84 VENTAS
85 Ventas
86
87

Ventas Per
Ventas Brasil

1
2
3
4,261,705
###
8,890,142
480,192
825,930
950,780
3,781,513 4,900,840 7,939,361

88
89
90 COSTOS DE PRODUCCIN
91 Costos de Produccin
92
93
94
95

Materia Prima
Embotellado
Mano de obra: Per

1
###
-1,760,000
-450,000
-143,000

2
###
###
-604,400
-190,840

3
###
-3,676,032
-938,808
-298,678

96
97 FLUJO DE CAJA OPERATIVO
98 Ingresos
99
100

0
0
0
0

1
2
3
1,800,720 4,916,879 7,017,089
1,800,720 2,455,894 3,746,213
0
2,460,984 3,270,876

0
0
0

-101,309
-80,000
-21,309

-108,634
-80,000
-28,634

-124,451
-80,000
-44,451

-2,005,150
-1,760,000
-195,733

-3,069,256
-2,153,067
-306,336

###
###
-367,390

-5,695,179
-4,041,289
-395,864

Embotellado: 11/12
Embotellado: 1/12

0
-37,500

-412,500
-50,367

-554,033
-78,234

-860,574
-93,814

Mano de obra: 11/12

Mano de obra: 1/12

0
-11,917

-131,083
-15,903

-174,937
-24,890

-273,788
-29,850

0
0
0

-1,900,000
-900,000
-1,000,000

###
-900,000
-800,000

-1,200,000
-900,000
-300,000

-2,005,150

###

###

-2,540

-378,714

-403,094
0
-159,804
0

-214,114
-166,144
553,813
-166,144

-893,807
-779,524
3,152,226
-945,668

Ventas Contado
Ventas Credito

101
102 Costo de venta
103
Costo de Venta Fijo
104
Costo de Venta Variable
105
106 Costo de produccin
107
Materia Prima: 11/12
108
Materia Prima: 1/12
109
110
111
112
113
114
115
116 Gastos
117
Gastos de Administracin
118
Campaa Public.
119
120 Depreciacin
121
122 BAITx
123
124 Impuestos
125
Impuesto a la renta
126
BAIT acumulado
127

Impuesto a la renta acumulado

-378,714
0
-378,714

-378,714

-403,094
0
64,493
809,724
-467,287
-87,945
-190,000
-314,222
0
342,137
-745,231

141 Utilidad Neta

142

-2,383,864

###

###

-896,347

143 FLUJO DE CAJA OPERATIVO

144

-2,383,864

###

###

-896,347

0
-1,600,000
0
-1,600,000
-1,600,000

1
0

2
0

3
0

0
-3,983,864

1
###

2
###

3
-896,347

128
129
130
131
132
133
134
135
136
137
138
139

Flujo de Caja del IGV

IGV a pagar a la SUNAT
IGV Registrado
IGV Ventas
IGV Compras: Materia Prima
IGV Compras: Embotellado
IGV Campaa Publicitaria
IGV acumulado
IGV a pagar del periodo
IGV Cobrado x Ventas
IGV Pagado x Compras

-371,589
-7,125
0
-378,714
0

-47,970
-114,283
0
-366,137
105,909
607,734
1,088,086 1,689,127
-710,046
-843,059
-120,131
-181,334
-152,000
-57,000
-208,312
399,422
0
-399,422
934,207 1,333,247
-982,177 -1,081,393

140

145
146 FLUJO DE CAJA DE INVERSIONES
147 Flujo de Caja de Inversiones en Activos Fijos
148
Inversin en activo fijo

Terreno
150 Flujo de Caja de Inversiones
149
151
152
153 FLUJO DE CAJA ECONOMICO
154 Flujo de Caja Econmico
155 CPPC = Ko

9.60%

4
5,900

5
6,200

6
6,600

10

5,900

6,200

6,600

7,125

7,650

8,175

8,700

4
8%
629,856
10%
62,986

5
8%
680,244
10%
68,024

6
8%
734,664
10%
73,466

7
8%
793,437
10%
79,344

8
8%
856,912
10%
85,691

9
8%
925,465
10%
92,547

10
8%
999,502
10%
99,950

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32

TasaCrecimiento
0.00%
0.00%

ValorVta x hlContado
60%
192.08
40%
151.26

Crdito
40%
60%

4
300,000

5
300,000

6
300,000

7
300,000

8
300,000

9
300,000

10
300,000

33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52

G
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83

G
84
85
86
87

4
10,660,487
1,133,253
9,527,234

5
6
7
8
9
10
###
###
###
###
###
###
1,190,876 1,267,707 1,368,547 1,469,388 1,570,228 1,671,068
###
###
###
###
###
###

4
-5,892,653
-4,408,678
-1,125,770
-358,205

5
###
-4,750,365
-1,212,391
-385,967

88
89
90
91
92
93
94
95

6
###
###
###
-416,345

7
###
###
###
-449,637

8
###
###
###
-485,374

9
10
###
###
###
-6,953,615
###
-1,773,204
-523,752 -564,981

96
97
98
99
100

4
9,634,774
4,490,845
5,143,929

5
6
7
8
9
10
###
###
###
###
###
###
4,830,291 5,205,650 5,621,757 6,066,311 6,541,590 7,050,050
6,169,641 6,649,998 7,174,622 7,748,361 8,364,773 9,027,270

-133,302
-80,000
-53,302

-137,401
-80,000
-57,401

-141,901
-80,000
-61,901

-146,851
-80,000
-66,851

-152,155
-80,000
-72,155

-157,844
-80,000
-77,844

-163,948
-80,000
-83,948

-6,275,028
-4,354,501
-427,021

-6,767,208
-4,697,229
-461,166

###
###
-497,820

###
###
-537,181

###
###
-579,468

###
###
0

-2,143,336
0
0

-1,031,955
-101,033

-1,111,359
-108,955

###
-117,667

###
-127,005

###
-137,020

###
-1,625,437
-147,767
0

-328,355
-32,164

-353,803
-34,695

-381,650
-37,470

-412,168
-40,448

-444,926
-43,646

-480,106
-47,082

-1,200,000
-900,000
-300,000

-1,200,000
-900,000
-300,000

###
-900,000
-300,000

###
-900,000
-300,000

###
-900,000
-300,000

###
-1,200,000
-900,000 -900,000
-300,000 -300,000

2,026,443

2,895,323

###

###

###

###

###

-1,174,023
-1,016,247
6,539,718
-1,961,915

-1,211,791
-1,126,153
###
-3,088,069

###
###
###
###

###
###
###
###

###
###
###
###

###
###
###
###

-1,852,748
-1,838,137
###
###

101
102
103
104
105
106
107
108
109
110
111
112
113
114

-517,899
0

115
116
117
118
119
120
121
122
123
124
125
126
127

128
129
130
131
132
133
134
135
136
137
138
139

-157,776
-807,626
844,736
2,025,493
-908,489
-215,268
-57,000
1,244,158
-844,736
1,830,607
-1,180,757

-85,637
-93,474
-102,010 -109,630 -107,964
-906,670 -980,550
###
###
###
912,300
986,755 1,070,760 1,160,624 1,375,547
2,181,255 2,352,252 2,540,322 2,741,906 2,958,083
-980,095
###
###
###
###
-231,860 -250,073 -270,054 -291,474 -314,448
-57,000
-57,000
-57,000
-57,000
-57,000
2,156,458 3,143,213 4,213,973 5,374,597 6,750,144
-912,300 -986,755
###
###
###
2,089,987 2,252,573 2,431,312 2,624,788 2,832,209
-1,268,955
###
###
###
###

-14,611
-2,703,469
2,824,189
3,190,022
0
-308,833
-57,000
9,574,333
-2,824,189
3,054,691
-365,833

140
141

852,420

1,683,532

###

###

###

###

###

852,420

1,683,532

###

###

###

###

###

4
0

5
0

6
0

7
0

8
0

9
0

10
1,600,000

142
143
144
145
146
147
148

1,600,000
###

4
852,420

5
1,683,532

6
###

7
###

8
###

9
###

10
###

149
150
151
152
153
154
155

N
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32

N
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52

N
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83

N
84

11

85
86
87
88
89
90
91
92
93
94
95

11

N
96

11
9,739,541
99
0
100 9,739,541
97
98

101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122

###

123
124 1,615,164
125
126
127

N
128
129 1,615,164
130 -235,349
131
132
133
134
135
136
137
138 1,850,513
139
140
141

###

142
143

###

144
145
146

11

147
148
149
150
151
152
153
154
155

11
###