G1 T1 Ejercicio de Analisis de EEFF1 10

PROGRAMA
PEE 2011
CURSO
Planeamiento Financiero
PROFESOR
Manuel Acevedo Riquelme
CASO
GRUPO No.
INTEGRANTES
ANTONIOLI GARCIA, Miguel Angel
AYCA BAZAN, Blanca Gladys
BARNUEVO NICHO, Lelia
BAZALAR CALDERON, Jos Manuel
LUYO BOZA, Silvia Liliana
El anlisis desarrollado no se puede apreciar claramente

Faltan las estrategias escritas, acompaadas con cifras
Ese es el camino para entender los cuadros presentados
Caso contrario no se pueden seguir con facilidad
Adicionalmente y muy importante, no han presentado los Balances
Con ellos se puede determinar si la empresa sale a flote y como
queda financieramente
Ha faltado profundidad y desarrollo en este caso
NOTA 10
BALANCE GENERAL
ANALISIS VERTICAL
ACTIVO
ACTIVO CORRIENTE
CAJA-BANCOS
CTAS.POR COBRAR COMERCIALES
PROV.CTA.COBRANZA DUDOSA
Subtotal Neto Ctas por Cobrar Com.
OTRAS CTAS.POR COBRAR
CTAS POR COBRAR AFILIADAS
PROD.TERM.Y MERCADERIA
EXISTENCIAS POR RECIBIR
Subtotal Existencias
GASTOS ANTICIPADOS
TOTAL ACTIVO CORRIENTE
ACTIVO NO CORRIENTE
INTERESES X DEVENGAR EN EL L. P.
VALORES
INM.MAQ.Y EQUIPOS
(-)DEPREC.ACUMULADA
INM. MAQ y EQUIPO NETO
INTANGIBLES
CARGAS DIFERIDAS
TOTAL ACTIVO NO CORRIENTE
TOTAL ACTIVO
1996
788,275.00
3,664,103.00
0.00
3,664,103.00
1,194,501.00
881,064.00
6,745,506.00
0.00
6,745,506.00
482,032.00
13,755,481.00
0.00
163,548.00
787,716.00
(145,389.00)
642,327.00
0.00
0.00
805,875.00
14,561,356.00
%
5.41%
25.16%
0.00%
25.16%
8.20%
6.05%
46.32%
0.00%
46.32%
3.31%
94.47%
0.00%
1.12%
5.41%
-1.00%
4.41%
0.00%
0.00%
5.53%
100.00%
1997
224,069.00
3,365,252.00
0.00
3,365,252.00
998,507.00
765,859.00
9,382,605.00
0.00
9,382,605.00
1,076,373.00
15,812,665.00
0.00
751,080.00
976,488.00
(180,282.00)
796,206.00
9,461.00
0.00
1,556,747.00
17,369,412.00
%
1.29%
19.37%
0.00%
19.37%
5.75%
4.41%
54.02%
0.00%
54.02%
6.20%
91.04%
0.00%
4.32%
5.62%
-1.04%
4.58%
0.05%
0.00%
8.96%
100.00%
1998
430,951.00
3,157,010.00
0.00
3,157,010.00
1,864,853.00
1,762,927.00
4,819,442.00
268,835.00
5,088,277.00
1,120,091.00
13,424,109.00
0.00
0.00
3,173,890.00
(225,353.00)
2,948,537.00
86,448.00
0.00
3,034,985.00
16,459,094.00
%
2.62%
19.18%
0.00%
19.18%
11.33%
10.71%
29.28%
1.63%
30.91%
6.81%
81.56%
0.00%
0.00%
19.28%
-1.37%
17.91%
0.53%
0.00%
18.44%
100.00%
ANALISIS VERTICAL
PASIVO
PASIVO CORRIENTE
SOBREGIRO BANCARIO
TRIBUTOS POR PAGAR
REMUNERAC.Y PARTIC.P.PAGAR
CTAS.POR PAGAR COMERCIALES
CTAS POR PAGAR AFILIADAS
OTRAS CTAS.POR PAGAR
TOTAL PASIVO CORRIENTE
PASIVO NO CORRIENTE
BENEFICIOS SOCIALES
TOTAL PASIVO NO CORRIENTE
TOTAL PASIVO
CAPITAL y PATRIMONIO
CAPITAL SOCIAL
CAPITAL ADICIONAL
EXCEDENTE DE REVALUACION
RESERVA
RESULT.ACUMULADOS
RESULT.DEL PERIODO
PATRIMONIO NETO
TOTAL PASIVO Y PATRIMONIO
1996
1997
1998
194,097.00
0.00
0.00
9,296,839.00
2,495,175.00
973,633.00
12,959,744.00
1.33%
0.00%
0.00%
63.85%
17.14%
6.69%
89.00%
0.00
0.00
0.00
11,275,093.00
2,229,200.00
2,227,420.00
15,731,713.00
0.00%
0.00%
0.00%
64.91%
12.83%
12.82%
90.57%
576,059.00
160,260.00
34,629.00
8,895,958.00
1,594,861.00
1,453,610.00
12,715,377.00
3.50%
0.97%
0.21%
54.05%
9.69%
8.83%
77.25%
0.00
310,181.00
310,181.00
0.00%
2.13%
2.13%
0.00
320,346.00
320,346.00
0.00%
1.84%
1.84%
8,029,754.00
313,084.00
8,342,838.00
48.79%
1.90%
50.69%
13,269,925.00
91.13%
16,052,059.00
92.42%
21,058,215.00
127.94%
1,177,654.00
1,177,654.00
51,436.00
8.00
62,333.00
1,291,431.00
8.09%
0.00%
0.00%
0.35%
0.00%
0.43%
8.87%
51,436.00
62,341.00
25,922.00
1,317,353.00
6.78%
0.00%
0.00%
0.30%
0.36%
0.15%
7.58%
1,254,201.00
408,617.00
865,844.00
54,779.00
88,263.00
(7,270,825.00)
(4,599,121.00)
7.62%
2.48%
5.26%
0.33%
0.54%
-44.18%
-27.94%
14,561,356.00
100.00%
17,369,412.00
100.00%
16,459,094.00
100.00%
BALANCE GENERAL
ANALISIS HORIZONTAL
ACTIVO
ACTIVO CORRIENTE
CAJA-BANCOS
GASTOS ANTICIPADOS
ACTIVO NO CORRIENTE
VALORES
INM.MAQ.Y EQUIPOS
(-)DEPREC.ACUMULADA
INTANGIBLES
CARGAS DIFERIDAS
TOTAL ACTIVO
1996
788,275.00
3,664,103.00
0.00
3,664,103.00
1,194,501.00
881,064.00
6,745,506.00
0.00
6,745,506.00
482,032.00
13,755,481.00
0.00
163,548.00
787,716.00
(145,389.00)
642,327.00
0.00
0.00
805,875.00
14,561,356.00
%
-71.57%
-8.16%
-8.16%
-16.41%
-13.08%
39.09%
0.00%
39.09%
123.30%
14.96%
0.00%
359.24%
23.96%
0.00%
23.96%
0.00%
0.00%
93.17%
19.28%
1997
224,069.00
3,365,252.00
0.00
3,365,252.00
998,507.00
765,859.00
9,382,605.00
0.00
9,382,605.00
1,076,373.00
15,812,665.00
0.00
751,080.00
976,488.00
(180,282.00)
796,206.00
9,461.00
0.00
1,556,747.00
17,369,412.00
%
92.33%
-6.19%
0.00%
-6.19%
86.76%
130.19%
-48.63%
0.00%
-45.77%
4.06%
-15.11%
0.00%
-100.00%
225.03%
0.00%
270.32%
813.73%
0.00%
94.96%
-5.24%
1998
430,951.00
3,157,010.00
0.00
3,157,010.00
1,864,853.00
1,762,927.00
4,819,442.00
268,835.00
5,088,277.00
1,120,091.00
13,424,109.00
0.00
0.00
3,173,890.00
(225,353.00)
2,948,537.00
86,448.00
0.00
3,034,985.00
16,459,094.00
ANALISIS HORIZONTAL
PASIVO
PASIVO CORRIENTE
SOBREGIRO BANCARIO
TRIBUTOS POR PAGAR
CTAS.POR PAGAR
1996
1997
1998
194,097.00
0.00
0.00
9,296,839.00
2,495,175.00
973,633.00
12,959,744.00
-100.00%
0.00%
0.00%
21.28%
-10.66%
128.77%
21.39%
0.00
0.00
0.00
11,275,093.00
2,229,200.00
2,227,420.00
15,731,713.00
0.00%
0.00%
0.00%
-21.10%
-28.46%
-34.74%
-19.17%
576,059.00
160,260.00
34,629.00
8,895,958.00
1,594,861.00
1,453,610.00
12,715,377.00
0.00
310,181.00
310,181.00
0.00%
3.28%
3.28%
0.00
320,346.00
320,346.00
0.00%
-2.27%
2504.32%
8,029,754.00
313,084.00
8,342,838.00
13,269,925.00
20.97%
16,052,059.00
31.19%
21,058,215.00
CAPITAL SOCIAL
CAPITAL ADICIONAL
RESERVA
RESULT.ACUMULADOS
RESULT.DEL PERIODO
1,177,654.00
0.00%
0.00
0.00%
0.00
0.00%
51,436.00
0.00%
8.00 779162.50%
62,333.00
0.00%
1,177,654.00
0.00
0.00
51,436.00
62,341.00
25,922.00
6.50%
0.00%
0.00%
6.50%
41.58%
0.00%
1,254,201.00
408,617.00
865,844.00
54,779.00
88,263.00
(7,270,825.00)
PATRIMONIO NETO
1,291,431.00
2.01%
1,317,353.00
-449.12%
(4,599,121.00)
14,561,356.00
19.28%
17,369,412.00
-5.24%
PASIVO NO CORRIENTE
BENEFICIOS SOCIALES
TOTAL PASIVO
16,459,094.00
BALANCE GENERAL
ANALISIS EVOLUTIVO
ACTIVO
ACTIVO CORRIENTE
CAJA-BANCOS
GASTOS ANTICIPADOS
ACTIVO NO CORRIENTE
VALORES
INM.MAQ.Y EQUIPOS
(-)DEPREC.ACUMULADA
INTANGIBLES
CARGAS DIFERIDAS
TOTAL ACTIVO
1996
788,275.00
3,664,103.00
0.00
3,664,103.00
1,194,501.00
881,064.00
6,745,506.00
0.00
6,745,506.00
482,032.00
13,755,481.00
0.00
163,548.00
787,716.00
(145,389.00)
642,327.00
0.00
0.00
805,875.00
14,561,356.00
%
-71.57%
-8.16%
0.00%
-8.16%
-16.41%
-13.08%
39.09%
0.00%
39.09%
123.30%
14.96%
0.00%
359.24%
23.96%
0.00%
23.96%
0.00%
0.00%
93.17%
19.28%
1997
224,069.00
3,365,252.00
0.00
3,365,252.00
998,507.00
765,859.00
9,382,605.00
0.00
9,382,605.00
1,076,373.00
15,812,665.00
0.00
751,080.00
976,488.00
(180,282.00)
796,206.00
9,461.00
0.00
1,556,747.00
17,369,412.00
%
-45.33%
-13.84%
0.00%
-13.84%
56.12%
100.09%
-28.55%
0.00%
-24.57%
132.37%
-2.41%
0.00%
-100.00%
302.92%
0.00%
359.04%
0.00%
0.00%
276.61%
13.03%
1998
430,951.00
3,157,010.00
0.00
3,157,010.00
1,864,853.00
1,762,927.00
4,819,442.00
268,835.00
5,088,277.00
1,120,091.00
13,424,109.00
0.00
0.00
3,173,890.00
(225,353.00)
2,948,537.00
86,448.00
0.00
3,034,985.00
16,459,094.00
ANALISIS EVOLUTIVO
PASIVO
PASIVO CORRIENTE
SOBREGIRO BANCARIO
TRIBUTOS POR PAGAR
CTAS.POR PAGAR
PASIVO NO CORRIENTE
BENEFICIOS SOCIALES
TOTAL PASIVO
CAPITAL SOCIAL
CAPITAL ADICIONAL
RESERVA
RESULT.ACUMULADOS
RESULT.DEL PERIODO
PATRIMONIO NETO
1996
1997
1998
194,097.00
0.00
0.00
9,296,839.00
2,495,175.00
973,633.00
12,959,744.00
-100.00%
0.00%
0.00%
21.28%
-10.66%
128.77%
21.39%
0.00
0.00
0.00
11,275,093.00
2,229,200.00
2,227,420.00
15,731,713.00
196.79%
0.00%
0.00%
-4.31%
-36.08%
49.30%
-1.89%
576,059.00
160,260.00
34,629.00
8,895,958.00
1,594,861.00
1,453,610.00
12,715,377.00
0.00
310,181.00
310,181.00
0.00%
3.28%
3.28%
0.00
320,346.00
320,346.00
0.00%
0.94%
2589.67%
8,029,754.00
313,084.00
8,342,838.00
13,269,925.00
20.97%
16,052,059.00
58.69%
21,058,215.00
1,177,654.00
0.00%
0.00
0.00%
0.00
0.00%
51,436.00
0.00%
8.00 779162.50%
62,333.00
0.00%
1,291,431.00
2.01%
14,561,356.00
19.28%
1,177,654.00
6.50%
0.00
0.00%
0.00
0.00%
51,436.00
6.50%
62,341.00 1103187.50%
25,922.00
0.00%
1,317,353.00
-456.13%
17,369,412.00
13.03%
1,254,201.00
408,617.00
865,844.00
54,779.00
88,263.00
(7,270,825.00)
(4,599,121.00)
16,459,094.00
ESTADO DE PERDIDAS y GANANCIAS

ANALISIS VERTICAL
DETALLE
VENTAS
DEVOLUC., DESCTOS y REBAJAS CONCEDIDAS
VENTAS NETAS
COSTO DE VENTAS
UTILIDAD BRUTA
1996
1997
1998
26,105,526.00
0.00
26,105,526.00
(21,120,432.00)
4,985,094.00
100.00%
0.00%
100.00%
-80.90%
19.10%
31,261,149.00
0.00
31,261,149.00
(24,992,081.00)
6,269,068.00
100.00%
0.00%
100.00%
-79.95%
20.05%
33,870,102.00
(467,832.00)
33,402,270.00
(29,312,565.00)
4,089,705.00
101.40%
-1.40%
100.00%
-87.76%
12.24%
GASTOS DE ADMINISTRACION
GASTOS DE VENTAS
Subtotal Gastos Operativos
UTILIDAD OPERATIVA
(1,251,302.00)
(4,089,480.00)
(5,340,782.00)
(355,688.00)
-4.79%
-15.67%
-20.46%
-1.36%
(1,434,741.00)
(4,451,181.00)
(5,885,922.00)
383,146.00
-4.59%
-14.24%
-18.83%
1.23%
(1,673,540.00)
(3,609,892.00)
(5,283,432.00)
(1,193,727.00)
-5.01%
-10.81%
-15.82%
-3.57%
GASTOS FINANCIEROS
INGRESOS FINANCIEROS
GASTOS VARIOS
INGRESOS VARIOS
Subtotal Otros Ingresos y Gastos
Resultado antes del REI
(1,031,985.00)
752,902.00
0.00
355,304.00
76,221.00
(279,467.00)
-3.95%
2.88%
0.00%
1.36%
0.29%
-1.07%
(1,594,950.00)
578,908.00
0.00
1,387,900.00
371,858.00
755,004.00
-5.10%
1.85%
0.00%
4.44%
1.19%
2.42%
(4,824,384.00)
1,348,665.00
(494,486.00)
820,334.00
(3,149,871.00)
(4,343,598.00)
-14.44%
4.04%
-1.48%
2.46%
-9.43%
-13.00%
REI
UTILIDAD ANTES DE IMPUESTOS
608,844.00
329,377.00
2.33%
1.26%
(659,586.00)
95,418.00
-2.11%
0.31%
(2,927,227.00)
(7,270,825.00)
-8.76%
-21.77%
PARTICIPACION LABORAL UTILIDADES

SALDO UTILIDAD ANTES DE IMPUESTOS
(20,796.00)
308,581.00
-0.08%
1.18%
(7,633.00)
87,785.00
-0.02%
0.28%
0.00
(7,270,825.00)
0.00%
-21.77%
0.00
(246,248.00)
62,333.00
0.00%
-0.94%
0.24%
0.00
(61,863.00)
25,922.00
0.00%
-0.20%
0.08%
0.00
0.00
(7,270,825.00)
0.00%
0.00%
-21.77%
RESERVA LEGAL
IMPTO A LA RTA 3A CAT
UTILIDAD (PERDIDA) NETA

ANALISIS HORIZONTAL
DETALLE
VENTAS
VENTAS NETAS
COSTO DE VENTAS
UTILIDAD BRUTA
1996
1997
1998
26,105,526.00
0.00
26,105,526.00
(21,120,432.00)
4,985,094.00
19.75
0.00
19.75
18.33
25.76
31,261,149.00
0.00
31,261,149.00
(24,992,081.00)
6,269,068.00
8.35
0.00
6.85
17.29
(34.76)
33,870,102.00
(467,832.00)
33,402,270.00
(29,312,565.00)
4,089,705.00
GASTOS DE VENTAS
UTILIDAD OPERATIVA
(1,251,302.00)
(4,089,480.00)
(5,340,782.00)
(355,688.00)
14.66
8.84
10.21
(207.72)
(1,434,741.00)
(4,451,181.00)
(5,885,922.00)
383,146.00
16.64
(18.90)
(10.24)
(411.56)
(1,673,540.00)
(3,609,892.00)
(5,283,432.00)
(1,193,727.00)
GASTOS FINANCIEROS
GASTOS VARIOS
INGRESOS VARIOS
(1,031,985.00)
752,902.00
0.00
355,304.00
76,221.00
(279,467.00)
54.55
(23.11)
0.00
290.62
387.87
(370.16)
(1,594,950.00)
578,908.00
0.00
1,387,900.00
371,858.00
755,004.00
202.48
132.97
0.00
(40.89)
(947.06)
(675.31)
(4,824,384.00)
1,348,665.00
(494,486.00)
820,334.00
(3,149,871.00)
(4,343,598.00)
REI
608,844.00
329,377.00
(208.33)
(71.03)
(659,586.00)
95,418.00
343.80
(7,719.97)
(2,927,227.00)
(7,270,825.00)

(20,796.00)
350,173.00
(63.30)
(74.93)
(7,633.00)
87,785.00
(100.00)
(8,382.54)
0.00
(7,270,825.00)
0.00
(246,248.00)
62,333.00
(74.88)
(58.41)
0.00
(61,863.00)
25,922.00
(100.00)
(28,148.86)
0.00
0.00
(7,270,825.00)
RESERVA LEGAL

ANALISIS EVOLUTIVO
DETALLE
VENTAS
VENTAS NETAS
COSTO DE VENTAS
UTILIDAD BRUTA
1996
1997
1998
26,105,526.00
0.00
26,105,526.00
(21,120,432.00)
4,985,094.00
19.75
0.00
19.75
18.33
25.76
31,261,149.00
0.00
31,261,149.00
(24,992,081.00)
6,269,068.00
29.74
0.00
27.95
38.79
(17.96)
33,870,102.00
(467,832.00)
33,402,270.00
(29,312,565.00)
4,089,705.00
GASTOS DE VENTAS
UTILIDAD OPERATIVA
(1,251,302.00)
(4,089,480.00)
(5,340,782.00)
(355,688.00)
14.66
8.84
10.21
(207.72)
(1,434,741.00)
(4,451,181.00)
(5,885,922.00)
383,146.00
33.74
(11.73)
(1.07)
235.61
(1,673,540.00)
(3,609,892.00)
(5,283,432.00)
(1,193,727.00)
GASTOS FINANCIEROS
GASTOS VARIOS
INGRESOS VARIOS
(1,031,985.00)
752,902.00
0.00
355,304.00
76,221.00
(279,467.00)
54.55
(23.11)
0.00
290.62
387.87
(370.16)
(1,594,950.00)
578,908.00
0.00
1,387,900.00
371,858.00
755,004.00
367.49
79.13
0.00
130.88
(4,232.55)
1,454.24
(4,824,384.00)
1,348,665.00
(494,486.00)
820,334.00
(3,149,871.00)
(4,343,598.00)
REI
608,844.00
329,377.00
(208.33)
(71.03)
(659,586.00)
95,418.00
(580.78)
(2,307.45)
(2,927,227.00)
(7,270,825.00)

(20,796.00)
350,173.00
(63.30)
(74.93)
(7,633.00)
87,785.00
(100.00)
(2,176.35)
0.00
(7,270,825.00)
0.00
(246,248.00)
62,333.00
0.00
(74.88)
(58.41)
0.00
(61,863.00)
25,922.00
0.00
(100.00)
(11,764.49)
0.00
0.00
(7,270,825.00)
RESERVA LEGAL
ANALISIS DE RATIOS
RATIOS DE LIQUIDEZ
1996
1997
1998
1.02
0.94
0.97
13,273,449.00
12,959,744.00
14,736,292.00
15,731,713.00
12,304,018.00
12,715,377.00
0.50
0.34
0.57
6,527,943.00
12,959,744.00
5,353,687.00
15,731,713.00
7,215,741.00
12,715,377.00
0.22
0.13
0.32
1,988,435.00
15,731,713.00
4,058,731.00
12,715,377.00
0.02
(0.06)
(0.03)
313,705.00
12,959,744.00
(995,421.00)
15,731,713.00
(411,359.00)
12,715,377.00
LIQUIDEZ CORRIENTE o GENERAL

ACT CTE - GTOS PAG x ANTICIPADO
PASIVO CORRIENTE
LIQUIDEZ ACIDA
ACT CTE - GTOS PAG x ANT - EXISTENCIAS
PASIVO CORRIENTE
LIQUIDEZ SEVERA
ACT CTE - GTOS PAG x ANT - EXISTENCIAS- CTAS 2,863,840.00

x COB (Com)
PASIVO CORRIENTE
12,959,744.00
MARGEN DE SEGURIDAD
CAPITAL DE TRABAJO
PASIVO CORRIENTE
RATIOS DE LIQUIDEZ
1.20
1.00
0.80
0.60
0.40
0.20
0.00
(0.20)
1996
1997
1998
LIQUIDEZ CORRIENTE o GENERAL
LIQUIDEZ ACIDA
LIQUIDEZ SEVERA
MARGEN DE SEGURIDAD
RATIOS DE GESTION
ROTACION CUENTAS POR COBRAR

VENTAS NETAS
PROMEDIO DE CUENTAS POR COBRAR
ROTACION DE INVENTARIOS
COSTO DE VENTAS
PROM INVENTARIOS
ROTACION CUENTAS POR PAGAR
COMPRAS
PROMEDIO DE CUENTAS POR PAGAR
1996
1997
1998
51
ds
26,105,526.00
3,664,103.00
39
ds
31,261,149.00
3,365,252.00
34
ds
33,870,102.00
3,157,010.00
115
ds
21,120,432.00
6,745,506.00
135
ds
24,992,081.00
9,382,605.00
62
ds
29,312,565.00
5,088,277.00
123
ds
22,865,938.00
7,812,469.75
113
ds
27,629,180.00
8,643,668.91
123
ds
24,749,402.00
8,475,231.51
166
123
(42.51)
174
113
(61.28)
96
123
27.23
CICLO EFECTIVO
TIEMPO CAPITAL INMOVILIZADO
CUENTAS POR PAGAR
CICLO
RATIOS DE GESTION
180
160
140
120
100
ROTACION CUENTAS POR COBRAR
80
ROTACION DE INVENTARIOS
60
TIEMPO CAPITAL INMOVILIZADO
40
CUENTAS POR PAGAR
20
0
1996
1997
1998
RATIOS DE ENDEUDAMIENTO
1996
1997
1998
91.13%
92.42%
127.94%
13,269,925.00
14,561,356.00
16,052,059.00
17,369,412.00
21,058,215.00
16,459,094.00
ENDEUDAMIENTO EN EL LARGO PLAZO
11.00%
9.43%
22.75%
PASIVO NO CTE + PATRIMONIO (NETO)

ACTIVO TOTAL (NETO)
1,601,612.00
14,561,356.00
1,637,699.00
17,369,412.00
3,743,717.00
16,459,094.00
1027.54%
1218.51%
-457.87%
13,269,925.00
1,291,431.00
16,052,059.00
1,317,353.00
21,058,215.00
(4,599,121.00)
DEPENDENCIA FINANCIERA
PASIVO CTE + PASIVO NO CTE
ACTIVO TOTAL (NETO)
ENDEUDAMIENTO PATRIMONIAL
PASIVO CTE - PASIVO NO CTE
PATRIMONIO NETO
RATIOS DE ENDEUDAMIENTO
150.00%
100.00%
50.00%
0.00%
1996
DEPENDENCIA FINANCIERA
1997
1998
ENDEUDAMIENTO EN EL LARGO PLAZO
2000.00%
1000.00%
0.00%
-1000.00%
1996
1997
1998
RATIOS DE RENTABILIDAD
1996
COSTO DE VENTAS
1997
1998
80.90%
79.95%
86.54%
21,120,432.00
26,105,526.00
24,992,081.00
31,261,149.00
29,312,565.00
33,870,102.00
GASTOS OPERATIVOS
20.46%
18.83%
15.60%
GASTOS OPERATIVOS
VENTAS NETAS
5,340,782.00
26,105,526.00
5,885,922.00
31,261,149.00
5,283,432.00
33,870,102.00
COSTO VENTAS
VENTAS NETAS
GASTOS FINANCIEROS
3.95%
5.10%
14.24%
GASTOS FINANCIEROS
VENTAS NETAS
1,031,985.00
26,105,526.00
1,594,950.00
31,261,149.00
4,824,384.00
33,870,102.00
105.32%
103.88%
116.39%
32,472,953.00
31,261,149.00
39,420,381.00
33,870,102.00
COSTOS TOTALES
COSTO VENTA + GTOS OPERAT + GTOS FINANCIEROS

27,493,199.00
VENTAS NETAS
26,105,526.00
UTILIDAD OPERATIVA/CAPITAL (ROE)
UTILIDAD OPERATIVA
CAPITAL CONTABLE (PATRIMONIO)
UTILIDAD NETA / ACTIVO FIJO (ROA)
UTILIDAD NETA
ACTIVO FIJO
-27.54%
29.08%
25.96%
(355,688.00)
1,291,431.00
383,146.00
1,317,353.00
(1,193,727.00)
(4,599,121.00)
9.70%
3.26%
-246.59%
62,333.00
642,327.00
25,922.00
796,206.00
(7,270,825.00)
2,948,537.00
RATIOS DE RENTABILIDAD
200.00%
100.00%
0.00%
-100.00%
-200.00%
-300.00%
1996
1997
1998
COSTO DE VENTAS
GASTOS OPERATIVOS
GASTOS FINANCIEROS
COSTOS TOTALES
UTILIDAD OPERATIVA/CAPITAL (ROE)
UTILIDAD NETA / ACTIVO FIJO (ROA)
Stock
Exist. X Rec
S/. 4,819,442
S/. 268,835
t.c compra
3.145
3.145
$1,532,414
$85,480
Unidades
C.U
Unid
1,532
57
VENTAS X UNIDADES
%
Ventas de Stock
30
30
20
5
15
Modalidad
Venta
Alquiler-Vta (10 meses)
Venta de Partes
Venta al Personal
Prdida
P. Venta
Ventas
Costo
Margen US$
460
460
306
77
230
1,000
1,000
1,000
1,000
1,000
1,000
1,500
600
1,000
0
460,000
690,000
183,600
77,000
0
460,042
460,042
306,028
77,007
230,021
-42
229,958
-122,428
-7
-230,021
Compras
57
1,500
2,300
131,100
85,500
45,600
Compras
Compras
572
1,504
1,500
1,500
2,300
2,300
1,315,600 858,000
3,459,200 2,256,000
457,600
1,203,200
6,316,500 4,732,641
1,583,859
ENE FEB MAR ABR MAY JUN JUL AGO SET OCT NOV
50 50
230 230
0
0
280 280
50
50
50
40
10
0
60
10
0
60
10
0
60
30
27
40
40
40
20
20
306
10 10
0
0
50 356
10
0
50
10
0
50
7
0
27
0
20
189
31
230
230 230 253
260
220
280
230
0
280 356
230 230 253

280 280 280
260
280
Exist. X Rec
Compras Nuevas
3,436
190 193
0
0
280 280
220 220
280 280
Cuentas Por Cobrar Comerciales

Cuentas Por Cobrar Comerciales
Provisin de Cobranza Dudosa
Neto Sobregiro (430,951 - 576,059)
10%
3,157,010
-315,701
T.C
Cuentas por Cobrar Afiliadas

Cuentas por Pagar Afiliadas
1,762,927
1,594,861
Deuda Bancaria
Deuda Corto Plazo
Deuda Largo Plazo
TAMEX
1,453,610
8,029,754
16.95% anual
Monto Mensual
Total Interes
Total a Pagar
Ao
t.c
3.157
3.157
US$
460,440
2,543,476
3,003,916
$66,742
$1,801,488
$4,805,404
Gastos de Ventas
Vta. Fin Bancario
1999
2000
2001
2002
2003
S/.
168,066
Abril y Oct
168,066
(Dic- 1998)
Politica de Ventas
Vtas. Corporativas
50%
60%
70%
80%
80%
50%
40%
30%
20%
20%
3.145
S/.
2,841,309
-145,108
2,696,201
$857,298
Publicidad y Marketing
Sueldo
Comisin
10%
4%
1%
5%
COMPRAS X UNIDADES
ENE FEB MAR ABR MAY JUN JUL AGO SET OCT NOV
700
1000
500
DIC
10
0
10
270
270
280
DIC
Ventas en US$
Enero
Febrero
Marzo
Abril
Mayo
Junio
Julio
Agosto
Septiembre
Octubre
Noviembre
Diciembre
1999
Stock antiguo
Venta
Alquiler-Vta (10 meses)
Venta de Partes
Venta al Personal
50,000
50,000
34,500
50,000
69,000
50,000
69,000
50,000
69,000
40,000
69,000
40,000
40,000
69,000
69,000
183,600
10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
40,000
69,000
20,000
69,000
20,000
69,000
10,000
34,500
10,000.00
7,000.00
0.00
0.00
460,000
690,000
183,600
77,000
Stock nuevo
Ventas financiadas c/ Bco.

Ventas Corporativas
TOTAL
Tipo de Cambio
Ventas en S/.
Compras en US$
0
0
0
0
253,000
253,000
253,000
253,000
253,000
253,000
264,500
264,500
0
0
264,500
264,500
264,500
264,500
290,950
290,950
299,000
299,000
310,500
310,500
2,452,950
2,452,950
50,000
84,500
635,000
635,000
635,000
648,000
302,600
648,000
648,000
677,900
687,000
665,500
6,316,500
3.41
3.47
2,209,680 2,352,313
3.48
2,390,760
3.23
3.39
3.38
3.35
3.33
3.34
3.32
3.36
161,500 286,455 2,146,300 2,127,250 2,114,550 2,164,320 1,004,632 2,177,280
Enero
Febrero
Tipo de Cambio
Compras en S/.
Abril
Mayo
1,050,000
Producto nuevo
TOTAL
Marzo
Junio
Julio
Agosto
Septiembre
1,500,000
Octubre
Noviembre
3.48
2,315,940 21,450,980
Diciembre
1999
750,000
3,300,000
0 1,050,000
0 1,500,000
750,000
3.23
0
3.39
3.38
0 3,549,000
3.35
0
3.33
3.34
0 5,010,000
3.32
0
3.36
0
3.41
2,557,500
3.47
0
3.48
0
3,300,000
3.48
0 11,116,500
1.2
1.25
1.3
1.35
2000
2001
2002
2003
2,943,540
2,943,540
3,679,425
3,679,425
4,783,253
4,783,253
6,457,391
6,457,391
5,887,080
7,358,850
9,566,505 12,914,782
3.49
3.506
3.519
3.476
20,545,909 25,800,128 33,664,531 44,891,781
2000
2001
2002
2003
3,532,248
4,415,310
5,739,903
7,748,869
3,532,248
4,415,310
5,739,903
7,748,869
3.49
3.506
3.519
3.476
12,327,546 15,480,077 20,198,719 26,935,069
Flujo de Caja
INGRESOS
Enero
Febrero
Marzo
Abril
Mayo
Junio
Julio
Agosto
Septiembre
Octubre
Noviembre
2,841,309
Diciembre
1999
2000
2001
2002
Ing. Ctas por Cobrar Com

Ing. Ctas por Cobrar Afilia
Cobranzas
161,500
84,033
286,455 2,146,300 2,127,250 2,114,550 2,164,320 1,004,632 2,177,280
84,033
2,209,680 2,352,313
2,390,760
2,841,309
168,066
2,315,940 21,450,980 20,545,909 25,800,128 33,664,531
Total Ingresos
161,500 3,127,764 2,146,300 2,211,283 2,114,550 2,164,320 1,004,632 2,177,280
2,209,680 2,436,346
2,390,760
2,315,940 24,460,355 20,545,909 25,800,128 33,664,531
EGRESOS
Gastos de Adm.
139,462
Gastos de Ventas
- Publicidad y Marketing
6,460
- Sueldo
1,615
- Comisin
8,075
Sobregiro Bancario
Pago de Tributos
160,260.00
Pago de Remuneraciones 34,629.00
Pago Proveedores
0
Pago a/cta I.Rta 3ra
3,230
Pago de Beneficios Soc.
Amortiz. Pagare
215,576
139,462
139,462
153,408
153,408
153,408
153,408
153,408
153,408
153,408
153,408
153,408
1,799,056
1,978,961
2,176,857
2,394,543
11,458
2,865
14,323
576,059
85,852
21,463
107,315
85,090
21,273
106,363
84,582
21,146
105,728
86,573
21,643
108,216
40,185
10,046
50,232
87,091
21,773
108,864
88,387
22,097
110,484
94,093
23,523
117,616
95,630
23,908
119,538
92,638
23,159
115,797
0 3,549,000
5,729
42,926
78,271
226,254
225,587
0
42,545
0
20,093
0
43,546
0
47,815
221,583
224,252
2,557,500
44,194
78,271
227,589
0
47,046
223,585
0 5,010,000
42,291
43,286
78,271
222,250
222,917
231,594
232,261
0
46,319
78,271
232,261
Total Egresos
569,306
976,150 4,249,876
632,263
629,404 5,724,315
495,546
638,934
3,281,930
667,279
672,560
741,853 19,279,415 18,356,114 20,408,376 24,732,733
Saldo Inicial
Ingresos
Egresos
Saldo Final
430,951
23,145 2,174,759
71,183 1,650,203 3,135,350 -424,645
84,441
161,500 3,127,764 2,146,300 2,211,283 2,114,550 2,164,320 1,004,632 2,177,280
569,306
976,150 4,249,876
632,263
629,404 5,724,315
495,546
638,934
23,145 2,174,759
71,183 1,650,203 3,135,350 -424,645
84,441 1,622,787
1,622,787
550,537
2,209,680 2,436,346
3,281,930
667,279
550,537 2,319,604
2,319,604
2,390,760
672,560
4,037,804
858,039
821,836 1,032,005 1,346,581
214,510
205,459
258,001
336,645
1,072,549 1,027,295 1,290,006 1,683,227
576,059
160,260
34,629
11,116,500 11,116,500 12,327,546 15,480,077
429,020
410,918
516,003
673,291
313,084
2,705,710 2,795,144 2,807,958 2,818,370
4,037,804
430,951 5,611,891 7,801,687
2,315,940 24,460,355 20,545,909 25,800,128
741,853 19,279,415 18,356,114 20,408,376
5,611,891 5,611,891 7,801,687 13,193,439
13,193,439
33,664,531
24,732,733
22,125,236
2003
44,891,781
44,891,781
2,633,997
1,795,671
448,918
2,244,589
20,198,719
897,836
2,783,931
31,003,661
22,125,236
44,891,781
31,003,661
36,013,357

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PROGRAMA

Manuel Acevedo Riquelme

El anlisis desarrollado no se puede apreciar claramente

TOTAL PASIVO Y PATRIMONIO

ESTADO DE PERDIDAS y GANANCIAS

PARTICIPACION LABORAL UTILIDADES

ESTADO DE PERDIDAS y GANANCIAS

PARTICIPACION LABORAL UTILIDADES

ESTADO DE PERDIDAS y GANANCIAS

PARTICIPACION LABORAL UTILIDADES

LIQUIDEZ CORRIENTE o GENERAL

ACT CTE - GTOS PAG x ANT - EXISTENCIAS- CTAS 2,863,840.00

LIQUIDEZ CORRIENTE o GENERAL

ROTACION CUENTAS POR COBRAR

TIEMPO CAPITAL INMOVILIZADO

CUENTAS POR PAGAR

ENDEUDAMIENTO EN EL LARGO PLAZO

PASIVO NO CTE + PATRIMONIO (NETO)

ENDEUDAMIENTO EN EL LARGO PLAZO

COSTO VENTA + GTOS OPERAT + GTOS FINANCIEROS

UTILIDAD OPERATIVA/CAPITAL (ROE)

UTILIDAD NETA / ACTIVO FIJO (ROA)

230 230 253

230 230 253

Cuentas Por Cobrar Comerciales

Cuentas por Cobrar Afiliadas

Ventas financiadas c/ Bco.

Ing. Ctas por Cobrar Com

161,500 3,127,764 2,146,300 2,211,283 2,114,550 2,164,320 1,004,632 2,177,280

2,315,940 24,460,355 20,545,909 25,800,128 33,664,531

741,853 19,279,415 18,356,114 20,408,376 24,732,733

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