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Determine el flujo de caja para el accionista del proyecto minero de oro y plata cuyos supuestos
Supuestos
Reservas minerales
Capacidad de produccin
Das de operacin
Ley de cabeza de oro
Recuperacin total del oro
Precio del oro
Ley de cabeza de plata
Recuperacin total de la plata
Precio de la plata
Costo de produccin
Gatos administrativos y de ventas
Impuesto a la renta
Participacin trabajadores
1,200,000.00
400
500
300
3.5
80%
350
12
70%
6
38
$1,500,000.00
30%
8%
TM
TMD(ao 1)
TMD(ao2-6)
das/ao
gr/TM
$/onza
oz/TM
$/onza
$/TM
al ao
de la utilidad antes del impuesta a la renta
de la utilidad antes del impuesto a la renta
8,000,000.00
2,000,000.00
2,000,000.00
1,200,000.00
12
8
12%
aos
aos
El proyecto utilizara financiamiento bancario por un monto de US$ 5.000.000 prstamo que ser otorgado a un pla
(que incluye una desgracia) a una tasa de inters efectiva de 8% anual y mediante la modalidad de servicio de deuda constan
$5,000,000.00
8
8%
aos
0
Capacidad de produccin
Das de operacin
Produccion anual
Venta
TMD
DIAS/Ao
TM
$/TM
aos
1
400
300
120000
81.91
INGRESOS
Costo de produccin
Costo de produccin TOTAL
Gatos administrativos y de ventas
SUBTOTAL 1
Depreciacin de activos fijos
Amortizacin intangibles
SUBTOTAL 2
Participacin trabajadores
$
$/TM
$
al ao
Impuesto a la renta
SUBTOTAL 3
Depreciacin de activos fijos
Amortizacin intangibles
SUBTOTAL 4
Pago de Prestamo
Interes de Prestamo
INVERCION ADICIONAL (cierre mina)
CAPITAL
FLUJO EFECTIVO
Costo de oportunidad del accionista
FLUJO EFECTIVO NETO
FLUJO NETO EFECTIVO ACUM
30%
$9,829,350.48
-38
-$4,560,000.00
-$1,500,000.00
$3,769,350.48
-$666,666.67
-$250,000.00
$2,852,683.82
-$228,214.71
$2,624,469.11
-$787,340.73
$1,837,128.38
$666,666.67
$250,000.00
$2,753,795.04
x aos
x aos
8%
x aos
x aos
-$400,000.00
-7,000,000.00
-7,000,000.00
12%
-$7,000,000.00
-7,000,000.00
VAN
TIR
$5,004,946.32
30.4955%
$2,353,795.04
-$282,455.41
$2,071,339.64
-$4,928,660.36
10.00%
Gastos no desembolsables: Son los gastos que para fines de tributacin son deducibles, pero que no ocasion
Impuestos: Se determina como es 15% de las utilidades antes de impuesto (en el caso de Chile).
Ajustes por gastos no desembolsables: Para anular el efecto de haber incluido gastos que no constituan eg
http://html.rincondelvago.com/flujo-de-caja.html
http://todosobreproyectos.blogspot.com/2012/02/flujo-de-caja-de-un-proyecto.html
http://blogs.gestion.pe/deregresoalobasico/2010/06/cinco-tips-para-construir-un-b.html
31.51
$/TM
50.40
$/TM
81.91
$/TM
uesta a la renta
uesto a la renta
870,000.00
2
3
500
300
150000
81.91
330,000.00
4
500
300
150000
81.91
165000
5
500
300
150000
81.91
550
6
500
300
150000
81.91
500
300
150000
81.91
$12,286,688.10
-38
-$5,700,000.00
-$1,500,000.00
$5,086,688.10
-$666,666.67
-$250,000.00
$4,170,021.44
-$333,601.71
$3,836,419.72
-$1,150,925.92
$2,685,493.80
$666,666.67
$250,000.00
$3,602,160.47
$12,286,688.10
-38
-$5,700,000.00
-$1,500,000.00
$5,086,688.10
-$666,666.67
-$250,000.00
$4,170,021.44
-$333,601.71
$3,836,419.72
-$1,150,925.92
$2,685,493.80
$666,666.67
$250,000.00
$3,602,160.47
$12,286,688.10
-38
-$5,700,000.00
-$1,500,000.00
$5,086,688.10
-$666,666.67
-$250,000.00
$4,170,021.44
-$333,601.71
$3,836,419.72
-$1,150,925.92
$2,685,493.80
$666,666.67
$250,000.00
$3,602,160.47
$12,286,688.10
-38
-$5,700,000.00
-$1,500,000.00
$5,086,688.10
-$666,666.67
-$250,000.00
$4,170,021.44
-$333,601.71
$3,836,419.72
-$1,150,925.92
$2,685,493.80
$666,666.67
$250,000.00
$3,602,160.47
$12,286,688.10
-38
-$5,700,000.00
-$1,500,000.00
$5,086,688.10
-$666,666.67
-$250,000.00
$4,170,021.44
-$333,601.71
$3,836,419.72
-$1,150,925.92
$2,685,493.80
$666,666.67
$250,000.00
$3,602,160.47
-$400,000.00
-$400,000.00
-$400,000.00
-$400,000.00
-$400,000.00
$3,202,160.47
-$384,259.26
$2,817,901.22
-$2,110,759.15
$3,202,160.47
-$384,259.26
$2,817,901.22
$707,142.07
$3,202,160.47
-$384,259.26
$2,817,901.22
$3,525,043.28
$3,202,160.47
-$384,259.26
$2,817,901.22
$6,342,944.50
$3,202,160.47
-$384,259.26
$2,817,901.22
$9,160,845.71
3226736.404
26%
0.1
VAN
TIR
ducibles, pero que no ocasionan salidas de cajas, como la depreciacin, la amortizacin de los activos intangibles o el valor lib
caso de Chile).
gastos que no constituan egresos de caja, se suman la depreciacin, la amortizacin de intangibles y el valor libro. La razn d
30,000,000.00
21,600,000.00
4,400,000.00
4,000,000.00
1,320,000.00
2,680,000.00
4,400,000.00
1,400,000.00
5,680,000.00
81.91
Und. Monetaria
TMD-FALTANTE ANUAL
7
-1,200,000.00
9
8
550
300
165000
81.91
550
300
165000
81.91
300
0
81.91
10
11
0
300
0
81.91
0
300
0
81.91
$13,515,356.91
-38
-$6,270,000.00
-$1,500,000.00
$5,745,356.91
-$666,666.67
-$250,000.00
$4,828,690.25
-$386,295.22
$4,442,395.03
-$1,332,718.51
$3,109,676.52
$666,666.67
$250,000.00
$4,026,343.19
-$400,000.00
$13,515,356.91
-38
-$6,270,000.00
-$1,500,000.00
$5,745,356.91
-$666,666.67
-$250,000.00
$4,828,690.25
-$386,295.22
$4,442,395.03
-$1,332,718.51
$3,109,676.52
$666,666.67
$250,000.00
$4,026,343.19
-$5,000,000.00
-$400,000.00
$0.00
-38
$0.00
$0.00
$0.00
$0.00
$0.00
-38
$0.00
-$1,500,000.00
-$1,500,000.00
-$666,666.67
$0.00
-38
$0.00
-$1,500,000.00
-$1,500,000.00
-$666,666.67
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
-$2,166,666.67
$173,333.33
-$1,993,333.33
$598,000.00
-$1,395,333.33
$666,666.67
-$2,166,666.67
$173,333.33
-$1,993,333.33
$598,000.00
-$1,395,333.33
$666,666.67
$0.00
-$728,666.67
-$728,666.67
-$728,666.67
$87,440.00
-$641,226.67
$8,972,305.42
-$728,666.67
$87,440.00
-$641,226.67
$8,331,078.75
-1,200,000.00
$3,626,343.19
-$435,161.18
$3,191,182.00
$12,352,027.72
-$1,373,656.81
-$164,838.82
-$1,538,495.63
$10,813,532.08
-$1,200,000.00
$0.00
-$1,200,000.00
$9,613,532.08
ntangibles y el valor libro. La razn de incluirlos primero y eliminarlos despus obedece a la importancia de incorporar el efecto
12
13
0
300
0
81.91
0
300
0
81.91
4,000.00
1,200,000.00
1,200,000.00
$0.00
-38
$0.00
-$1,500,000.00
-$1,500,000.00
-$666,666.67
$0.00
-38
$0.00
-$1,500,000.00
-$1,500,000.00
-$2,166,666.67
$173,333.33
-$1,993,333.33
$598,000.00
-$1,395,333.33
$666,666.67
-$1,500,000.00
$120,000.00
-$1,380,000.00
$414,000.00
-$966,000.00
-$728,666.67
-$966,000.00
-$728,666.67
$87,440.00
-$641,226.67
$7,689,852.08
-$966,000.00
$115,920.00
-$850,080.00
$6,839,772.08
importancia de incorporar el efecto tributario que estas cuentas ocasionan a favor del proyecto.