Flujo de efectivo

CONCEPTO

MES 1

MES 2

Saldo inicial
Ingresos
Costos variables
Costos fijos
Saldo acumulado

0
0
0
0
0

Capital de trabajo

MES 3

0
0
0
0
0

MES 4

0
0
0
0
0

MES 5

0
0
0
0
0

MES 6

0
0
0
0
0

MES 7

0
0
0
0
0

MES 8

0
0
0
0
0

0
0
0
0
0

MES 9

MES 10

0
0
0
0
0

MES 11

0
0
0
0
0

MES 12

0
0
0
0
0

0
0
0
0
0

Precios de venta
CONCEPTO

U. MEDIDA

Productos
Arboles
pza
Programa de produccin
CONCEPTO

U. MEDIDA

CANTIDAD

22,220

CONCEPTO

U. MEDIDA

pza

350

AO 1

Productos
Arboles
pza
Programa de ventas (pesos)

Productos
Arboles
TOTAL

PRECIO

AO 2

AO 1

AO 3

AO 2

0
0

AO 4

AO 3

0
0

AO 5

AO 4

0
0

AO 6

AO 5

0
0

22,220

AO 6

0
0

7,777,000
7,777,000

AO 7

22,220

AO 7

7,777,000
7,777,000

AO 8

22,220

AO 8

7,777,000
7,777,000

AO 9

22,220

AO 9

7,777,000
7,777,000

AO 10

22,220

AO 10

7,777,000
7,777,000

Costo de produccin
CONCEPTO

AO 1

AO 2

AO 3

AO 4

AO 5

AO 6

AO 7

AO 8

AO 9

AO 10

Costos fijos
Gtos. de admn.
Gtos. de venta
Servicios aux.
Mantenimiento
Seguros
Impuestos
Obligaciones
Otros
Mantenimiento de instalaciones

209,440
105,000
30,000
150
650
0
13,798
58,642
0
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

211,740
105,000
30,000
150
650
0
13,798
58,642
2,300
1,200

Costos variables
Mano de obra
Materia prima
Insumos
Insumos aux.
Servicios
Otros

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

401,710
239,950
0
73,600
5,000
82,600
560

Costo total

611,150

613,450

613,450

613,450

613,450

613,450

613,450

613,450

613,450

613,450

Flujo de efectivo
CONCEPTO

Saldo inicial
Aportaciones
Ingresos
Egresos
Inversiones
Pago total a crditos

AO 1

AO 2

0
964,092
0
611,150
964,092
0

AO 8

AO 9

AO 10

611,150
0
0
613,450

AO 3

1,224,599

AO 4

1,838,049

AO 5

2,451,498

AO 6

3,064,948

AO 7

4,098,603

11,262,154

18,425,704

25,589,255

0
613,450

0
613,450

0
613,450

7,777,000
613,450

7,777,000
613,450

7,777,000
613,450

7,777,000
613,450

7,777,000
613,450

Inversiones
CONCEPTO

Inversin fija
Terreno
Construcciones
Instalaciones
Maquinaria
Equipos

Importe

Socios

Crdito avo

964,092
600,000
80,325
245,760
0
38,007

600,000
600,000

Inversin semifija
0
0

0
0
0

Inversin diferida
Gtos. de preinversin
Gtos. de instalacin
Gtos. de organizacin
Pbas. y arranque
Capital de trabajo*
Costos fijos
Gtos. de admn.
TOTAL

Crdito Refac.

Prodefor

Otros

0
0
0
0

0
0
0
0
0
0

0
0
0
0
0
0

364,092
0
80,325
245,760

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

964,092

600,000

364,092

0
0

38,007

Amortizacin de crdito refaccionario

Cr. Refacc.
Perodo
T. de inters

A0

SALDO AL
INICIO

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

0
6
12%
AMORTIZACIN

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

INTERS

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

PAGO
ANUAL

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

SALDO AL
FINAL

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Amortizacin de crdito refaccionario y de avo

CONCEPTO

AO 1

Crdito de avo
Pago a principal
Intereses*
Crdito refaccionario
Saldo final
Pago a principal
Intereses**
Pago total a crditos
*Calculado a
**Calculado a

11%
12%

AO 2

AO 3

AO 4

AO 5

AO 6

AO 7

AO 8

AO 9

AO 10

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

Depreciaciones y amortizaciones
CONCEPTO

Tasa recup.

Depreciaciones
Construcciones
Instalaciones
Maquinaria
Equipos
Amortizaciones
Gtos. de preinversin
Gtos. de instalacin
Gtos. de organizacin
Pbas. y arranque
TOTAL

AO 1

AO 2

AO 3

AO 4

AO 5

AO 6

AO 7

AO 8

AO 9

AO 10

5%
5%
20%
20%

4,016
12,288
0
7,601

4,016
12,288
0
7,601

4,016
12,288
0
7,601

4,016
12,288
0
7,601

4,016
12,288
0
7,601

4,016
12,288

4,016
12,288

4,016
12,288

4,016
12,288

4,016
12,288

10%
10%
10%
10%

0
0
0
0
23,906

0
0
0
0
23,906

0
0
0
0
23,906

0
0
0
0
23,906

0
0
0
0
23,906

0
0
0
0
16,304

0
0
0
0
16,304

0
0
0
0
16,304

0
0
0
0
16,304

0
0
0
0
16,304

Estado de resultados
CONCEPTO

AO 1

Ingresos
Costos fijos
Utilidad bruta
Costos variables
Utilidad antes gtos. finan.
Intereses*
Utilidad de operacin
Reparto utilidades a trab.
Impuestos del ejercicio
Depreciaciones y amort.
UTILIDAD NETA
Punto de equilibrio
0

Costos fijos
120,600
Costos variables0
Ingresos
0
Punto de equilibrio
Porcentaje de ventas

AO 2

AO 3

AO 4

AO 5

0
209,440
209,440
401,710
611,150
0
611,150
61,115
152,787
23,906
421,153

0
211,740
211,740
401,710
613,450
0
613,450
61,345
153,362
23,906
422,648

0
211,740
211,740
401,710
613,450
0
613,450
61,345
153,362
23,906
422,648

0
211,740
211,740
401,710
613,450
0
613,450
61,345
153,362
23,906
422,648

0
211,740
211,740
401,710
613,450
0
613,450
61,345
153,362
23,906
422,648

209,440
401,710
0
0
0.0

211,740
401,710
0
0
0.0

211,740
401,710
0
0
0.0

211,740
401,710
0
0
0.0

211,740
401,710
0
0
0.0

AO 6

7,777,000
211,740
7,565,261
401,710
7,163,551
0
7,163,551
716,355
1,790,888
16,304
4,640,004

211,740
401,710
7,777,000
223,272
2.9

AO 7

7,777,000
211,740
7,565,261
401,710
7,163,551
0
7,163,551
716,355
1,790,888
16,304
4,640,004

211,740
401,710
7,777,000
223,272
2.9

AO 8

7,777,000
211,740
7,565,261
401,710
7,163,551
0
7,163,551
716,355
1,790,888
16,304
4,640,004

211,740
401,710
7,777,000
223,272
2.9

AO 9

7,777,000
211,740
7,565,261
401,710
7,163,551
0
7,163,551
716,355
1,790,888
16,304
4,640,004

211,740
401,710
7,777,000
223,272
2.9

AO 10

7,777,000
211,740
7,565,261
401,710
7,163,551
0
7,163,551
716,355
1,790,888
16,304
4,640,004

10

211,740
401,710
7,777,000
223,272
2.9

Flujo neto del proyecto

CONCEPTO

Ingresos venta
Costos totales
Costos fijos
Costos var.
Depr. y amor.
Intereses
Util.ant.imp.
Impuestos
Rep.ut.trab.
Dep.+amor.+int.
Incr.act.fijo
Incr.cap.trab.
Rec.act.no dep. y cap. Trab.
Inversiones
964,092
Fl.neto proy.
964,092
Fl. financ.
964,092
Capital
Intereses
Fl. ne. empres.
964,092

0
635,055
209,440
401,710
23,906
0
635,055
152,787
61,115
23,906
0
0
0

0
637,355
211,740
401,710
23,906
0
637,355
153,362
61,345
23,906
0
2,300
0

0
637,355
211,740
401,710
23,906
0
637,355
153,362
61,345
23,906
0
0
0

0
637,355
211,740
401,710
23,906
0
637,355
153,362
61,345
23,906
0
0
0

0
637,355
211,740
401,710
23,906
0
637,355
153,362
61,345
23,906
0
0
0

7,777,000
629,754
211,740
401,710
16,304
0
7,147,246
1,790,888
716,355
16,304
0
0
0

7,777,000
629,754
211,740
401,710
16,304
0
7,147,246
1,790,888
716,355
16,304
0
0
0

7,777,000
629,754
211,740
401,710
16,304
0
7,147,246
1,790,888
716,355
16,304
0
0
0

7,777,000
629,754
211,740
401,710
16,304
0
7,147,246
1,790,888
716,355
16,304
0
0
0

7,777,000
629,754
211,740
401,710
16,304
0
7,147,246
1,790,888
716,355
16,304
0
0
1,376,601

397,247
0
0
0
397,247

401,042
0
0
0
401,042

398,742
0
0
0
398,742

398,742
0
0
0
398,742

398,742
0
0
0
398,742

4,656,308
0
0
0
4,656,308

4,656,308
0
0
0
4,656,308

4,656,308
0
0
0
4,656,308

4,656,308
0
0
0
4,656,308

6,032,909
0
0
0
6,032,909

Tasa interna de rendimiento

Para efectos de la tasa interna de rendimiento se consideran los siguientes factores:

Inters bancario
12.00%
Tasa de inflacin anual
7.50%
Inters real
4.19%
Inters aleatorio
14.19%
T.I.R. del proyecto
AO

FLUJO
NETO
0
1
2
3
4
5
6
7
8
9
10

VALOR AC. N. 1

964,092
397,247
401,042
398,742
398,742
398,742
4,656,308
4,656,308
4,656,308
4,656,308
6,032,909

TASA
FLUJO NETO
DESCUENTO
ACTUALIZ.
4.19%
964,092
1.0000000
381,286
0.9598214
369,463
0.9212572
352,585
0.8842424
338,418
0.8487148
324,821
0.8146146
3,640,695
0.7818846
3,494,417
0.7504696
3,354,017
0.7203168
3,219,257
0.6913755
4,003,420
0.6635970
14,981,141

TASA INTERNA DE RENDIMIENTO=

TASA
FLUJO NETO
DESC.
ACTUALIZ.
14.19%
964,092
1.0000000
347,895
0.8757637
307,584
0.7669621
267,826
0.6716776
234,552
0.5882309
205,413
0.5151513
2,100,697
0.4511509
1,839,714
0.3951016
1,611,155
0.3460156
1,410,991
0.3030279
1,601,019
0.2653809

VALOR AC. N. 2
21.32%

6,236,215

10

RELACIN BENEFICIO-COSTO

AOS
0
1
2
3
4
5
6
7
8
9
10

RIPA*
964,092
96,409
96,409
96,409
96,409
96,409
96,409
96,409
96,409
96,409
96,409

FAC. ACT.

* Recuperacin de la inversin en pagos anuales

BEN/ COST =

16.24

0.90090
0.81162
0.73119
0.65873
0.59345
0.53464
0.48166
0.43393
0.39092
0.35218

ACT. RIPA (C)

86,855
78,248
70,494
63,508
57,214
51,544
46,436
41,835
37,689
33,954
567,776

FNE
-397,247
-401,042
-398,742
-398,742
-398,742
4,656,308
4,656,308
4,656,308
4,656,308
6,032,909

ACT. FNE (B)

-357,880
-325,495
-291,557
-262,664
-236,634
2,489,452
2,242,750
2,020,495
1,820,266
2,124,697
9,223,430

B/C
-4.12
-4.16
-4.14
-4.14
-4.14
48.30
48.30
48.30
48.30
62.58

61,600
7,134
20,000
11,808
100,542

25,952
700
26,652