Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Pgina 1
Integrantes:
Docente:
Dr. Hermes Sifuentes Inostroza
Pgina 2
I.
INVERSIN EN TERRENO
DETALLE
REA
TERRENO EN CIENEGUILLA
20000 m2
Total Inversin Terreno
SOLES x m2
S/. 130.00
TOTAL
S/. 2,600,000.00
S/. 2,600,000.00
INVERSIN EN INFRAESTRUCTURA
DETALLE (Ambientes
para construir)
ALMACN
COCINA
PILETA
BAOS Y VESTUARIOS
SALN PRINCIPAL
COCHERA
ZONA COSTA
ZONA SIERRA
ZONA SELVA
CAMPO DE CULTIVO
REA
900 m2
180 m2
UND
400 m2
2500 m2
1000 m2
500 m2
500 m2
500 m2
UND
MUROS
TECHO
S/. 12,000.00
S/. 40,000.00
S/. 2,400.00
S/. 7,000.00
S/. 1,100.00
S/. 5,000.00
S/. 16,000.00
S/. 49,000.00
S/. 10,000.00
S/. 40,000.00
S/. 6,720.00
S/. 30,000.00
S/. 6,720.00
S/. 30,000.00
S/. 6,720.00
S/. 30,000.00
S/. 10,800.00
Total Infraestructura
ACABADOS
S/. 14,000.00
S/. 23,000.00
S/. 5,500.00
S/. 7,000.00
S/. 90,000.00
S/. 4,900.00
S/. 700.00
S/. 700.00
S/. 700.00
-
CIMENTACION
TOTAL
MAQUINARIA Y EQUIPO
DETALLE
Equipos de Coccin
LICUADORA
BATIDORA
PELADORA DE PAPAS
MOLEDORAS
REBANADORA
TRITURADORA
LAMINADORA
CAMPANA EXTRACTORA
CANTIDAD
5
4
1
1
1
1
1
3
Total Maquinaria y Equipo
Pgina 3
PRECIO UNITARIO
S/. 6,500.00
S/. 950.00
S/. 1,800.00
S/. 1,000.00
S/. 7,700.00
S/. 900.00
S/. 1,590.00
S/. 350.00
TOTAL
S/. 50,340.00
S/. 32,500.00
S/. 3,800.00
S/. 1,800.00
S/. 1,000.00
S/. 7,700.00
S/. 900.00
S/. 1,590.00
S/. 1,050.00
S/. 50,340.00
MUEBLES Y ENSERES
DETALLE
Equipos de Coccin
ESTUFA
FREIDORA
PLANCHA
ASADOR
HORNOS
PARRILLA
HORNO MICROONDAS
VAPORIZADOR
MESA DE TRABAJO
MESA REFRIGERADA
MESA CALIENTE
Equipos de cocina
JUEGO DE OLLAS
OLLAS GRANDES
SETS DE CUBIERTOS
VASOS
COPAS
VAJILLA
JUEGO DE CUCHARONES
Mobiliario bsico
JUEGO INFANTIL
ANAQUEL
ESTRUCTURA PARA SS.HH.
MESA DE TRABAJO
ASIENTO INDIVIDUAL
BOOTHS
MESAS 2 PERSONAS
MESAS 4 PERSONAS
BAR PACK 4 PERSONAS
Medidas de Seguridad
EXTINTORES 6Kg
LUCES DE EMERGENCIA
SEALIZACIN
CANTIDAD
PRECIO UNITARIO
3
2
1
1
1
1
2
2
4
1
1
S/. 9,000.00
S/. 3,000.00
S/. 750.00
S/. 249.40
S/. 2,300.00
S/. 1,490.00
S/. 400.00
S/. 327.00
S/. 650.00
S/. 4,500.00
S/. 1,500.00
5
9
30
200
150
200
9
S/. 750.00
S/. 2,000.00
S/. 150.00
S/. 5.00
S/. 5.00
S/. 50.00
S/. 147.00
3
10
5
7
300
15
50
50
5
S/. 32,000.00
S/. 450.00
S/. 450.00
S/. 270.00
S/. 47.00
S/. 215.00
S/. 153.00
S/. 220.00
S/. 615.00
6
6
4
Total Muebles y Enseres
Total Activo Tangible
Pgina 4
S/. 65.00
S/. 48.00
S/. 2.00
TOTAL
S/. 47,843.40
S/. 27,000.00
S/. 6,000.00
S/. 750.00
S/. 249.40
S/. 2,300.00
S/. 1,490.00
S/. 800.00
S/. 654.00
S/. 2,600.00
S/. 4,500.00
S/. 1,500.00
S/. 39,323.00
S/. 3,750.00
S/. 18,000.00
S/. 4,500.00
S/. 1,000.00
S/. 750.00
S/. 10,000.00
S/. 1,323.00
S/. 143,690.00
S/. 96,000.00
S/. 4,500.00
S/. 2,250.00
S/. 1,890.00
S/. 14,100.00
S/. 3,225.00
S/. 7,650.00
S/. 11,000.00
S/. 3,075.00
S/. 686.00
S/. 390.00
S/. 288.00
S/. 8.00
S/. 231,542.40
S/. 3,396,242.40
TOTAL
S/. 38,000.00
S/. 3,097.00
S/. 560.00
S/. 18.00
S/. 4.00
S/. 1,640.00
S/. 150.00
S/. 210.00
S/. 505.00
S/. 10.00
S/. 200.00
S/. 41,297.00
TOTAL
S/. 5,000.00
S/. 20,000.00
S/. 1,000.00
S/. 26,000.00
POSICIONAMIENTO DE LA MARCA
DETALLE
DISEO DE IMAGEN CORPORATIVA
HOSTING Y DISEO DE PGINA WEB
Total Marca
TOTAL
S/. 2,000.00
S/. 1,450.00
S/. 3,450.00
S/. 70,747.00
S/. 3,466,989.40
Pgina 5
Chef Ejecutivo
Sueldo
Mensual
Sueldo Total
Anual
Pago por
vacaciones
Pago por
gratificaciones
Cocinero
S/. 1,500.00
S/. 18,000.00
Base Imponible
S/. 1,690.00
S/. 20,280.00
S/. 750.00
S/. 850.00
S/. 3,000.00
S/. 1,900.00
S/. 1,700.00
S/. 3,380.00
S/. 1,500.00
S/. 1,700.00
S/. 25,350.00
S/. 2,025.00
S/. 1,282.50
S/. 1,147.50
S/. 2,281.50
S/. 875.00
S/. 554.17
S/. 495.83
S/. 985.83
S/. 28,617.33
Meseros
Ayudantes
de Mesero
Bartender
Anfitrin
S/. 1,000.00
S/. 850.00
S/. 1,690.00
Capitn Mesero
S/. 12,000.00
S/. 1,000.00
S/. 2,000.00
S/. 495.83
S/. 583.33
S/. 750.00
S/. 900.00
S/. 12,000.00
S/. 9,000.00
S/. 9,000.00
S/. 10,800.00
S/. 1,000.00
S/. 750.00
S/. 750.00
S/. 900.00
S/. 750.00
S/. 1,500.00
S/. 850.00
S/. 2,000.00
S/. 1,500.00
S/. 1,500.00
S/. 1,800.00
S/. 1,500.00
S/. 3,000.00
S/. 1,700.00
S/. 1,500.00
Intrprete
S/. 750.00
S/. 15,000.00
S/. 750.00
Gua de
Turismo
S/. 1,000.00
ESSALUD
S/. 850.00
S/. 1,350.00
S/. 1,012.50
S/. 1,012.50
S/. 1,215.00
S/. 1,012.50
S/. 2,025.00
S/. 1,147.50
S/. 583.33
S/. 437.50
S/. 437.50
S/. 525.00
S/. 437.50
S/. 875.00
S/. 495.83
CTS
Costo Anual
S/. 850.00
Encargado
de Biohuerto
S/. 850.00
S/. 25,400.00
Sueldo
Mensual
Sueldo Total
Anual
Pago por
vacaciones
Pago por
gratificaciones
Base Imponible
Encargado de
Almacn
S/. 950.00
CTS
Costo Anual
S/. 950.00
Jefe de
Compras
S/. 1,500.00
S/. 22,500.00
ESSALUD
Pastelero
S/. 16,933.33
Gerente General
Sueldo Mensual
Sueldo Total Anual
Pago por vacaciones
Pago por
gratificaciones
Base Imponible
S/. 3,500.00
S/. 42,000.00
Jefe de
Comunicaciones
Encargado de
Marketing
S/. 1,760.00
S/. 1,740.00
Administrador
Web
S/. 1,500.00
Secretaria
Contable
S/. 1,320.00
Cajero
S/. 1,100.00
S/. 3,500.00
S/. 1,760.00
S/. 1,740.00
S/. 1,500.00
S/. 1,320.00
S/. 1,100.00
S/. 7,000.00
S/. 3,520.00
S/. 3,480.00
S/. 3,000.00
S/. 2,640.00
S/. 2,200.00
S/. 52,500.00
ESSALUD
S/. 4,725.00
S/. 2,376.00
S/. 2,349.00
S/. 2,025.00
S/. 1,782.00
S/. 1,485.00
CTS
S/. 2,041.67
S/. 1,026.67
S/. 1,015.00
S/. 875.00
S/. 770.00
S/. 641.67
Costo Anual
S/. 59,266.67
Pgina 6
Tipo de Costo
CANTIDAD
MOI
MOD
MOD
1
6
4
S/. 25,400.00
S/. 16,086.67
S/. 14,393.33
S/. 25,400.00
S/. 96,520.00
S/. 57,573.33
MOI
MOI
1
2
S/. 28,617.33
S/. 12,700.00
S/. 28,617.33
S/. 25,400.00
MOI
S/. 14,393.33
S/. 14,393.33
MOI
MOI
MOD
MOD
MOD
MOD
1
1
10
2
2
8
S/. 16,933.33
S/. 16,933.33
S/. 12,700.00
S/. 12,700.00
S/. 15,240.00
S/. 12,700.00
S/. 16,933.33
S/. 16,933.33
S/. 127,000.00
S/. 25,400.00
S/. 30,480.00
S/. 101,600.00
2
2
S/. 25,400.00
S/. 14,393.33
S/. 50,800.00
S/. 28,786.67
S/. 645,837.33
GASTO MENSUAL
S/. 4,938.89
TOTAL ANUAL
S/. 59,266.67
S/. 2,483.56
S/. 29,802.67
S/. 2,455.33
S/. 29,464.00
S/. 2,116.67
S/. 25,400.00
S/. 1,862.67
S/. 1,552.22
S/. 22,352.00
S/. 18,626.67
S/. 184,912.00
MOI
MOI
Total MOD MOI (Ao 1)
COSTO ANUAL
TOTAL ANUAL
Pgina 7
INGRESOS
UNIDADES
0
S/.
Precio unitario
1
23400
110.00 S/.
S/. 2,574,000.00
Ingresos
2
24782
110.00
S/.
S/. 2,726,020.00
S/.
3
26163
110.00
S/.
2,877,930.00
4
27544
110.00
S/.
S/. 3,029,840.00
5
28925
110.00
S/. 3,181,750.00
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
0
1
2,600,000.00
514,360.00
231,542.40
50,340.00
70,747.00
41,297.00
26,000.00
3,450.00
S/.
3,466,989.40
154,440.00 S/.
Pgina 8
163,561.20 S/.
S/.
172,675.80 S/.
172,675.80
181,790.40 S/.
190,905.00
DEPRECIACION
Infraestructura
Muebles y enseres
Maquinaria y equipo
DEPRECIACION
Infraestructura
Muebles y enseres
Maquinaria y equipo
Total
Porcentaje de
depreciacin
anual
3%
10%
10%
Ao 1
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04
Ao 2
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04
Inversin inicial
S/.
S/.
S/.
Vida til
514,360.00
231,542.40
50,340.00
Ao 3
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04
Depreciacin anual
33
10
10
Ao 4
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04
Ao 5
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04
15430.8
23154.24
5034
Valor residual
S/. 437,206.00
S/. 115,771.20
S/. 25,170.00
S/. 578,147.20
S/.
0
1
70,747.00 S/.
2
14,149.40 S/.
Pgina 9
3
14,149.40 S/.
4
14,149.40 S/.
5
14,149.40 S/.
14,149.40
DESCRIPCIN
INGRESOS
COSTOS DE FABRICACIN
Materia prima
Suministros
Mano de Obra Directa
COSTOS DE OPERACIN
Gastos Administrativos
Depreciacin
Amortizacion
Utilidad bruta
Impuesto (30%)
Utilidad neta
1
2
S/. 2,574,000.00 S/. 2,726,020.00 S/.
S/. 1,418,037.33 S/. 1,414,079.33 S/.
S/. 514,800.00 S/. 495,640.00 S/.
S/. 257,400.00 S/. 272,602.00 S/.
S/. 645,837.33 S/. 645,837.33 S/.
S/. 242,680.44 S/. 242,680.44 S/.
S/. 184,912.00 S/. 184,912.00 S/.
S/.
43,619.04 S/.
43,619.04 S/.
S/.
14,149.40 S/.
14,149.40 S/.
S/. 913,282.23 S/. 1,069,260.23 S/.
S/. 273,984.67 S/. 320,778.07 S/.
S/. 639,297.56 S/. 748,482.16 S/.
3
2,877,930.00
1,456,890.33
523,260.00
287,793.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,178,359.23
353,507.77
824,851.46
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
4
3,029,840.00
1,499,701.33
550,880.00
302,984.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,287,458.23
386,237.47
901,220.76
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
5
3,181,750.00
1,542,512.33
578,500.00
318,175.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,396,557.23
418,967.17
977,590.06
1.3.6. CUADRO DE SEVICIO DE LA DEUDA (Prstamo bancario BBVA con tasa efectiva anual 18%)
Descripcin
Saldo
Amortizacin
Intereses
Escudo tributario
Financiamento Neto
0
1
2
S/. 1,386,795.76 S/. 1,109,436.61 S/. 832,077.46
S/. 277,359.15 S/. 277,359.15
S/. 249,623.24 S/. 199,698.59
S/.
74,886.97 S/.
59,909.58
S/. 1,386,795.76 S/. -452,095.42 S/. -417,148.16
Pgina 10
S/.
S/.
S/.
S/.
S/.
3
554,718.30
277,359.15
99,849.29
29,954.79
-347,253.66
S/.
S/.
S/.
S/.
S/.
4
277,359.15
277,359.15
66,566.20
19,969.86
-323,955.49
5
S/.
S/.
S/.
S/.
S/.
277,359.15
33,283.10
9,984.93
-300,657.32
1
2
S/. 2,574,000.00 S/. 2,726,020.00 S/.
S/. 1,418,037.33 S/. 1,414,079.33 S/.
S/. 514,800.00 S/. 495,640.00 S/.
S/. 257,400.00 S/. 272,602.00 S/.
S/. 645,837.33 S/. 645,837.33 S/.
S/. 492,303.68 S/. 442,379.03 S/.
S/. 184,912.00 S/. 184,912.00 S/.
S/.
43,619.04 S/.
43,619.04 S/.
S/.
14,149.40 S/.
14,149.40 S/.
S/. 249,623.24 S/. 199,698.59 S/.
S/. 663,658.99 S/. 869,561.64 S/.
S/. 199,097.70 S/. 260,868.49 S/.
S/. 464,561.29 S/. 608,693.15 S/.
1
S/.
2
74,886.97 S/.
Pgina 11
59,909.58 S/.
3
2,877,930.00
1,456,890.33
523,260.00
287,793.00
645,837.33
342,529.73
184,912.00
43,619.04
14,149.40
99,849.29
1,078,509.93
323,552.98
754,956.95
4
5
S/. 3,029,840.00 S/. 3,181,750.00
S/. 1,499,701.33 S/. 1,542,512.33
S/. 550,880.00 S/. 578,500.00
S/. 302,984.00 S/. 318,175.00
S/. 645,837.33 S/. 645,837.33
S/. 309,246.64 S/. 275,963.54
S/. 184,912.00 S/. 184,912.00
S/.
43,619.04 S/.
43,619.04
S/.
14,149.40 S/.
14,149.40
S/.
66,566.20 S/.
33,283.10
S/. 1,220,892.03 S/. 1,363,274.13
S/. 366,267.61 S/. 408,982.24
S/. 854,624.42 S/. 954,291.89
3
29,954.79 S/.
4
19,969.86 S/.
5
9,984.93
Flujo de efectivo
Utilidad neta
Inversiones
Depreciacin
Amortizacion
Variacion del capital de trabajo
1
S/.
2
639,297.56 S/.
S/.
43,619.04 S/.
S/.
14,149.40 S/.
S/. -154,440.00 S/.
748,482.16 S/.
3
824,851.46 S/.
4
901,220.76 S/.
5
977,590.06
43,619.04 S/.
14,149.40 S/.
-9,121.20 S/.
43,619.04 S/.
14,149.40 S/.
-9,114.60 S/.
43,619.04 S/.
14,149.40 S/.
-9,114.60 S/.
43,619.04
14,149.40
-9,114.60
S/. 3,466,989.40
Pgina 12
815,371.80 S/.
-417,148.16 S/.
398,223.63 S/.
S/. 190,905.00
S/. 578,147.20
891,734.50 S/. 968,103.80 S/. 1,813,525.30
-347,253.66 S/. -323,955.49 S/. -300,657.32
544,480.84 S/. 644,148.31 S/. 1,512,867.98
II.
= (
) + (1 ) (
)
+
+
Donde:
C: Capital de accionistas
D: Deuda
Ke: Costo de oportunidad de los accionistas (%)
Kd: Costo de la deuda (%)+
T: tasa de impuestos y participacin de trabajador
Se calcula el costo del capital accionario (Ke), usando el modelo del CAPM
con una modificacin de agregar el riesgo pas en Per.
= + ( ) +
Datos
Pgina 13
= 66.666%
= 66.66%
= 30%
= [1 + (1 ) ( )]
= . 71[1 + (1 0.30) (0.66666)]
= 1.04
Pgina 14
Luego:
= 0.022 + 1.21(0.0755) + 0.0234
= 13.6755%
6. Calculamos el Costo de la Deuda (Kd)
La tasa de inters del prstamo del BBVA es:
= 18%
7. Calculamos el WACC
= /. 1,386,795.76
= /. 2,080,193.64
= (
) + (1 ) (
)
+
+
2,080,193.64
)
2,080,193.64 + 1,386,795.76
1,386,795.76
+ (18%)(1 0.30) (
)
2,080,193.64 + 1,386,795.76
= (13.6755%) (
= . %
Pgina 15
III.
VAN
TIR
S/. 85,287.30
S/. 116,806.57
14.26%
15.75%
CONCLUSIN
3.1.
Pgina 16