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DATOS GENERALES

ESTUDIO DE MERCADO

AO 1

PRECIO

AO 2

AO 3

AO 4

6.50%

N UNIDADES A VENDER

7.00%

POLITICA DE INVENTARIO

10%

AO 5

7.50%

59,000

INCREMENTO

1. PRESUPUESTOS

10%

15%

10%

10%

2. ESTADOS FINANCIEROS

Presupuesto de Ingreso

ANALSISIS
DE COSTO

51,000

INFLACION

ELABORAR

PORTADA
ESTUDIO DE
MERCADO

Presupuesto de Costo
7.50%

Presupuesto de Gasto Admon


Presupuesto de Gasto Ventas

GASTOS

20%

20%

Presupuesto de Gasto Financiero

10%

10%

Presupuesto de Inversion y KW

INVERSION

PRIMERA
NOTA

Presupuesto Depreciacion
COSTO VENTA UNITARIO

AO 1

MATERIALES DIRECTOS UNIT


MANO DE OBRA UNIT
CIF

$ 21,000

SALARIO

$ 9,000

189000000 GERENTE

$ 210,000,000

ADQUISICION MAQUINARIA

GASTOS ADMON

AO 0

AO 1

3. INDICADORES EVALUACION
VPN

$ 4,200,000

SUBGERENTE

$ 2,800,000

SECRETARIA

$ 1,200,000

ASISTENTE

TIR

SEGUNDA
NOTA

$ 689,854

TERRENO

$ 420,000,000

TOTAL SALARIO

$ 8,889,854

MAQUINARIAS

$ 220,000,000

ARRIENDO

$ 3,600,000

VEHICULO

$ 350,000,000

PAPELERIA

$ 6,000,000

MUEBLES Y ENSERES

$ 220,000,000

SERVICIOS PUBLICO

EQUIPOS DE COMPUTO

$ 110,000,000

AGUA

GASTOS DE VENTAS

AO 1

SALARIO

$ 1,111,000

COMISIONES

$ 920,000

PAPELERIA

$ 1,000,000

PUBLICIDAD

$ 1,200,000

TELEFONO

$ 400,000

OTROS

$ 750,000

$ 120,000

LUZ

$ 1,300,000

TELEFONO

$ 1,300,000

TOTAL SERV PUBLICO

$ 2,720,000

OTROS

$ 5,000,000

CAPITAL DE TRABAJO

APORTE SEGURIDAD SOCIAL

60 DIAS COSTOS + GASTOS

INFORMACION ADICIONAL

EPS

8.50%

AFP

12.00%

ARL

0.52%
PRESTACIONES SOCIALES

APORTE SOCIO

40%

PRESTAMO

60%

IMPUESTOS

33%

TEA

20%

PRIMA

8.33%

RENDIMIENTO ESPERADO SOCIO

30%

VACACIONES

4.17%

Aporte Seguridad Social

52%

CESANTIAS

8.33%

Ventas de Contado

50%

INT CES

1.00%

Ventas Credito

50%

PARAFISCALES

Cuentas Por Cobrar Dias

60

SENA

2.00%

Cuentas Por Pagar Dias

ICBF

3.00%

C X C Aos

0.17

0.83

4.00%

C X P Aos

0.25

0.75

COMFE
OTROS DATOS
AUX. TRANSPORTES

77,700

AUX. TRANSPORTES

Calculo Cesantias, Int


Ces y Prima

COMISIONES

No Constituyen Factor
Salarial

90

DATOS GENERALES
ESTUDIO DE MERCADO
Precio
Inflacin

AO 1

DEMANDA
Nmero de unidades a vender
Incremento
OFERTA
Politica de inventario
PROYECCION DE OFERTA
Presupuesto de venta
Inventario inicial
Inventario final
N Unidades a producir
PRESUPUESTO DE INGRESOS
Precio
N Unidades a vender
Venta de contado
Venta a credito
Total ventas

6to Semestre, Finanzas 1 UDC

AO 2
$ 54,315
6.50%

AO 3
$ 58,117
7.00%

59,000

64900
10%

74635
15%

10%

10%

10%

64900
5900
6.49
65490

AO 3
74635
6490
7.464
75609

51,000

AO 1

AO 2
59,000
0
5.9
64900

AO 1

AO 2
AO 3
51,000 $
54,315 $
58,117
59,000
64900
74635
$ 1,504,500,000
$ 1,762,521,750 $ 2,168,783,013
$ 1,504,500,000
$ 1,762,521,750 $ 2,168,783,013
$ 3,009,000,000
$ 3,525,043,500 $ 4,337,566,027

AO 4
$ 62,476
7.50%

AO 5
$ 67,162
7.50%

89562
20%

107474.4
20%

10%

10%

89562
7464
8.956
91055

AO 5
107474.4
8956
10.747
109266

AO 4

AO 4
AO 5
62,476 $
67,162
89562
107474.4
$ 2,797,730,087
$ 3,609,071,813
$ 2,797,730,087
$ 3,609,071,813
$ 5,595,460,175
$ 7,218,143,625

Costo de venta unitario


Materiales directos unitario
Mano de obra unitaria
CIF
CIF Unitario
Total Costo de venta unitario
TOTAL COSTO DE VENTA

$
$
$
$
$
$

AO 1
21,000
9,000
210,000,000
3,236
33,236
210,066,472

PRESUPUESTO DE COSTO POR UNID A PRODUCIR

AO 1

N Unidades a producir
Materiales directos unitario
Materiales Directos
Mano de obra unitaria
Mano de obra
CIF
TOTAL COSTO UNIDADES PRODUCIDAS

64,900
21,000
1,362,900,000
9,000
584,100,000
210,000,000
2,157,009,000

$
$
$
$
$
$

AO 2
$
$
$
$
$
$

22,365
9,585
223,650,000
3,446
35,396
223,720,793
AO 2

$
$
$
$
$
$

65,490
22,365
1,464,683,850
9,585
627,721,650
223,650,000
2,316,065,085

AO 3
$
$
$
$
$
$

AO 4

23,931 $
10,256 $
239,305,500 $
3,688 $
37,874 $
239,381,248 $
AO 3

$
$
$
$
$
$

75,609
23,931
1,809,364,955
10,256
775,442,124
239,305,500
2,824,122,834

25,725
11,025
257,253,413
3,964
40,715
257,334,842

AO 5
$
$
$
$
$
$

AO 4
$
$
$
$
$
$

91,055
25,725
2,342,420,948
11,025
1,003,894,692
257,253,413
3,603,580,077

27,655
11,852
276,547,418
4,261
43,768
276,634,955
AO5

$
$
$
$
$
$

109,266
27,655
3,021,723,022
11,852
1,295,024,152
276,547,418
4,593,306,445

###

###

###

###

###

AOS

SUELDO

PORCENTAJE
GERENTE
$4,200,000
SUBGERENTE
$2,800,000
SECRETARIA
$1,200,000
ASISTENTE
$689,854
TOTALES
$8,889,854
VENDEDOR
$1,111,000
TOTA CONSOLIDADO

GASTOS ADMINISTRACION
ITEM
MENSUAL
SALARIO
$13,155,164
ARRIENDO
$3,600,000
PAPELERIA
$6,000,000
AGUA
$120,000
LUZ
$1,300,000
OTROS
$5,000,000
TELEFONO
$1,300,000
TOTAL
INFLACION

$30,475,164

AUXILIO TR

EPS

AFP

8.5%
$357,000
$238,000
$102,000
$58,638
$755,638
$94,435
$850,073

12.0%
$504,000
$336,000
$144,000
$82,782
$1,066,782
$133,320
$1,200,102

ANUAL AO 1
$157,861,967
$43,200,000
$72,000,000
$1,440,000
$15,600,000
$60,000,000
$15,600,000

AO 2
$168,122,995
$46,008,000
$76,680,000
$1,533,600
$16,614,000
$63,900,000
$16,614,000

AO 3
$179,891,604
$49,228,560
$82,047,600
$1,640,952
$17,776,980
$68,373,000
$17,776,980

$365,701,967

$389,472,595
6.50%

$416,735,676
7.00%

$77,700
$77,700
$155,400
$77,700

SALARIOS
ARL
0.522%
$21,924
$14,616
$6,264
$3,601
$46,405
$5,799
$52,204

SENA

ICBF

COMFE

$0

$0

$0

$0

AO 4
$193,383,475
$52,920,702
$88,201,170
$1,764,023
$19,110,254
$73,500,975
$19,110,254

AO 5
$207,887,235
$56,889,755
$94,816,258
$1,896,325
$20,543,523
$79,013,548
$20,543,523

$447,990,852
7.50%

$481,590,166
7.50%

4.0%
$168,000
$112,000
$48,000
$27,594
$355,594
$44,440
$400,034

CESANTIAS
8.33%
$350,000
$233,333
$106,475
$63,963
$753,771
$99,058
$852,830

GASTOS VENTAS
ITEM
MENSUAL
SALARIO
$1,712,093
COMISIONES
$920,000
PAPELERIA
$1,000,000
PUBLICIDAD
$1,200,000
TELEFONO
$400,000
OTROS
$750,000
TOTAL
$5,982,093
INFLACION

INT CES
1.0%
$3,500
$2,333
$1,065
$640
$7,538
$991
$8,528

ANUAL AO 1
$20,545,120
$11,040,000
$12,000,000
$14,400,000
$4,800,000
$9,000,000
$71,785,120

VACACIONES
4.17%
$175,000
$116,667
$50,000
$28,744
$370,411
$46,292
$416,702

PRIMA

TOTAL
MENSUAL

TOTAL ANUAL

8.33%
$350,000
$233,333
$106,475
$63,963
$753,771
$99,058
$852,830

$6,129,424
$4,086,283
$1,841,979
$1,097,478
$13,155,164
$1,712,093
$14,867,257

$73,553,088
$49,035,392
$22,103,745
$13,169,742
$157,861,967
$20,545,120
$178,407,087

AO 2
AO 3
$21,880,553 $23,412,192
$11,757,600 $12,580,632
$12,780,000 $13,674,600
$15,336,000 $16,409,520
$5,112,000
$5,469,840
$9,585,000 $10,255,950
$76,451,153 $81,802,734

AO 4
$25,168,106
$13,524,179
$14,700,195
$17,640,234
$5,880,078
$11,025,146
$87,937,939

AO 5
$27,055,714
$14,538,493
$15,802,710
$18,963,252
$6,321,084
$11,852,032
$94,533,284

7.50%

7.50%

6.50%

7.00%

AMORTIZACION C
PERIODO
SALDO
INTERES
CUOTA
CAPITAL

AO 0
$ 1,051,448,709
20%
$0
$0

PRESUPUESTO DE GASTOS
AOS
PAGO INTERESES
ABONO A CAPITAL
CUOTA

AO 0

PRESUPUESTO DE CAPITAL DE TRABAJO


COSTO TOTAL
TOTAL GASTOS DE ADMINISTRACION
TOTAL GASTOS VENTAS
COSTO GASTO ANUAL
COSTO GASTOS MENSUAL
CAPITAL DE TRABAJO DOS MESES
TOTAL CAPITAL DE TRABAJO
TOTAL INVERSION
TOTAL NECESIDAD DE CAPITAL
APORTE SOCIO
PRESTAMO
TEA
PERIODO

$
$
$
$

$2,157,000,000
$365,701,967
$71,785,120
2,594,487,087
216,207,257.25
432,414,515
432,414,515
$1,320,000,000
$1,752,414,515
$700,965,806
$1,051,448,709
20%
5

AMORTIZACION CREDITO
AO 1
$ 910,155,343
$ 210,289,741.74
$351,583,107
$ 141,293,365

AO 2
$ 740,603,305
$ 182,031,068.64
$ 351,583,107
$ 169,552,039

AO 3
$ 537,140,858
$ 148,120,660.92
$ 351,583,107
$ 203,462,446

PRESUPUESTO DE GASTOS FINANCIEROS


AO 1
210,289,742
141,293,365
351,583,107

AO 2
182,031,069
169,552,039
351,583,107

AO 3
148,120,661
203,462,446
351,583,107

PRESU
AOS
TERRENO
MAQUINARIAS
VEHICULO
MUEBLES Y ENSERES
EQUIPOS DE COMPUTO
CUOTA

E.A
Aos

VALOR INICIAL
420,000,000
220,000,000
350,000,000
220,000,000
110,000,000

AO 4
$ 292,985,923
$ 107,428,171.66
$ 351,583,107
$ 244,154,936

AO 5
$0
$ 58,597,184.54
$ 351,583,107
$ 292,985,923

AO 4
107,428,172
244,154,936
351,583,107

AO 5
58,597,185
292,985,923
351,583,107

PRESUPUESTO DEPRECIACION
N DE AOS

AO 1

AO 2

AO 3

NO
5
5
5
3

$
$
$
$

44,000,000
70,000,000
44,000,000
36,666,667
194,666,667

$
$
$
$

44,000,000
70,000,000
44,000,000
36,666,667
194,666,667

$
$
$
$

44,000,000
70,000,000
44,000,000
36,666,667
194,666,667

AO 4
$
$
$

44,000,000
70,000,000
44,000,000
158,000,000

AO 5
$ 44,000,000
$ 70,000,000
$ 44,000,000
158,000,000

ESTADO DE RESULTAD
AOS

AO 0

INGRESOS
COSTO DE VENTA
UTILIDAD BRUTA
GASTOS ADMINISTRACION
GASTOS DE VENTAS
DEPRECIACION
UTILIDAD OPERATIVA
GASTOS FINANCIEROS
UTILIDAD ANTES DE IMPUESTOS
IMPUESTOS
UTILIDAD NETA

$
$
$
$
$
$
$
$
-$

AO 1
3,009,000,000
2,157,009,000
851,991,000
365,701,967
71,785,120
194,666,667
219,837,247
351,583,107
131,745,861

-$

131,745,861

33%

FLUJO DE CAJA
ITEMS
INGRESOS
VENTAS CONTADO
VENTAS CREDITO
PRESTAMO
TOTAL INGRESOS
EGRESOS
MATERIALES DIRECTO
MANO DE OBRA
CIF
GASTOS DE ADMINISTRACION
GASTOS DE VENTAS
ABONO A CAPITAL
PAGO DE INTERESES
IMPUESTOS
ADQ. ACTIVOS
CAPITAL DE TRABAJO
TOTAL EGRESOS
FCN
FCN ACUMULADO

AO 0

AO 1
1,504,500,000
1,253,750,000

1,051,448,709
1,051,448,709

2,758,250,000

1,022,175,000
584,100,000
210,000,000
365,701,967
71,785,120
141,293,365
210,289,742
1,320,000,000
432,414,515
1,752,414,515

2,605,345,194

-700,965,806
-700,965,806

152,904,806
-548,061,000

ESTADO DE RESULTADO
$
$
$
$
$
$
$
$
$
$
$

AO 2
3,525,043,500
2,316,065,085
1,208,978,415
389,472,595
76,451,153
194,666,667
548,388,001
351,583,107
196,804,894
64,945,615
131,859,279

$
$
$
$
$
$
$
$
$
$
$

AO 3
4,337,566,027
2,824,122,834
1,513,443,192
416,735,676
81,802,734
194,666,667
820,238,116
351,583,107
468,655,009
154,656,153
313,998,856

$
$
$
$
$
$
$
$
$
$
$

AO 4
5,595,460,175
3,603,580,077
1,991,880,098
447,990,852
87,937,939
158,000,000
1,297,951,307
351,583,107
946,368,200
312,301,506
634,066,694

FLUJO DE CAJA
AO 2

AO 3

AO 4

1,762,521,750
1,719,518,125

2,168,783,013
2,168,783,013

2,797,730,087
2,797,730,087

3,482,039,875

4,337,566,027

5,595,460,175

1,439,237,888
627,721,650
223,650,000
389,472,595
76,451,153
169,552,039
182,031,069
0

1,723,194,679
775,442,124
239,305,500
416,735,676
81,802,734
203,462,446
148,120,661
64,945,615

2,209,156,949
1,003,894,692
257,253,413
447,990,852
87,937,939
244,154,936
107,428,172
154,656,153

3,108,116,392

3,653,009,434

4,512,473,104

373,923,483
-174,137,517

684,556,593
510,419,076

1,082,987,070
1,593,406,146

$
$
$
$
$
$
$
$
$
$
$

AO 5
7,218,143,625
4,593,306,445
2,624,837,180
481,590,166
94,533,284
158,000,000
1,890,713,730
351,583,107
1,539,130,623
507,913,106
1,031,217,517

AO 5
3,609,071,813
3,609,071,813
7,218,143,625

2,851,897,504
1,295,024,152
276,547,418
481,590,166
94,533,284
292,985,923
58,597,185
312,301,506

5,663,477,137
1,554,666,488
3,148,072,634

BALANCE GENERAL
AOS

ACTIVOS
ACTIVOS CORRIENTE
Disponible
Cuentas x cobrar
TOTAL ACTIVO CORRIENTE
ACTIVO FIJO
PPE (PropiedadPlantayEquipo)
Depreciacin
TOTAL ACTIVO FIJO
TOTAL ACTIVO
PASIVO
PASIVOS CORRIENTE
Obligaciones financieras
Cuentas x pagar
Impuestos x pagar
TOTAL PASIVO CORRIENTE

AO 1

PATRIMONIO
Capital
Utilidad del ejercicio
TOTAL PATRIMONIO
TOTAL PASIVO+PATRIMONIO

AO 3

$585,319,320 $959,242,803 $1,643,799,396


$250,750,000 $293,753,625 $361,463,836
$836,069,320 $1,252,996,428 $2,005,263,231

$1,320,000,000 $1,320,000,000 $1,320,000,000


194,666,667 $389,333,333 $584,000,000
$1,514,666,667 $1,709,333,333 $1,904,000,000
$2,350,735,987
AO 1

$2,962,329,762 $3,909,263,231
AO 2

AO 3

$169,552,039 $203,462,446 $244,154,936


$340,725,000 $366,170,963 $452,341,239
$0
$64,945,615 $154,656,153
$510,277,039 $634,579,024 $851,152,327

PASIVOS NO CORRIENTE
Obligaciones financieras
TOTAL PASIVO NO CORRIENTE
TOTAL PASIVO

AO 2

$740,603,305
$740,603,305
$1,250,880,343
AO 1

$537,140,858
$537,140,858

$292,985,923
$292,985,923

$1,171,719,882 $1,144,138,250

AO 2
AO 3
$700,965,806 $700,965,806 $700,965,806
-$131,745,861 $131,859,279 $313,998,856
$569,219,945 $832,825,085 $1,014,964,662

$1,820,100,288 $2,004,544,967 $2,159,102,911

AO 4

AO 5

$2,726,786,466
$466,288,348
$3,193,074,814

$4,281,452,954

$1,320,000,000
$742,000,000
$2,062,000,000

$1,320,000,000
$900,000,000
$2,220,000,000

$4,281,452,954

$5,255,074,814

$6,501,452,954

AO 4

AO 5

$292,985,923
$585,605,237
$312,301,506
$1,190,892,666

$0
$755,430,756
$507,913,106
$1,263,343,861

$0
$0

$0
$0

$1,190,892,666

$1,263,343,861

AO 4
$700,965,806
$634,066,694
$1,335,032,500

AO 5
$700,965,806
$1,031,217,517
$1,732,183,323

$2,525,925,165

$2,995,527,184

Fuente
Pasivo
Patrimonio
Activo Neto Financiero

EVA
AO 1
AO 2
AO 3
AO 4
AO 5
$1,250,880,343 $1,171,719,882 $1,144,138,250 $1,190,892,666 $1,263,343,861
$569,219,945
$832,825,085 $1,014,964,662 $1,335,032,500 $1,732,183,323
$1,820,100,288 $2,004,544,967 $2,159,102,911 $2,525,925,165 $2,995,527,184
WACC/CPPC
(Kd * % Pasivo) + (Ke * % Patrimonio)
AO 1
AO 2
AO 3
20%
20%
20%
30%
30%
30%
13.75%
11.69%
10.60%
9.38%
12.46%
14.10%
23.13%
24.15%
24.70%

AO 4

AO 5

20%
30%
9.43%
15.86%
25.29%

20%
30%
8.43%
17.35%
25.78%

UODI
Utilidad Operativa
Impuestos
UODI
Activos Neto Financiero
WACC
Activos * WACC

EVA
UODI - (ACTIVOS * WACC)
PONDERCIN PONDERCIN PONDERCIN
$219,837,247
$548,388,001
$820,238,116
$0
$64,945,615
$154,656,153
$219,837,247
$483,442,386
$665,581,963
$1,820,100,288 $2,004,544,967 $2,159,102,911
23.13%
24.15%
24.70%
$420,942,052
$484,191,502
$533,317,048

PONDERCIN
$1,297,951,307
$312,301,506
$985,649,801
$2,525,925,165
25.29%
$638,688,283

PONDERCIN
$1,890,713,730
$507,913,106
$1,382,800,625
$2,995,527,184
25.78%
$772,323,769

EVA

-$201,104,806

$346,961,518

$610,476,855

Cuentas
Kd
Ke
Pasivos
Patrimonio
WACC/CPPC

-$749,116

$132,264,915

Utilidad Operativa
Depreciacin
Amortizacin

AO 1
219,837,247
194,666,667
351,583,107

EBITDA
AO 2
548,388,001
194,666,667
351,583,107

AO 3
820,238,116
194,666,667
351,583,107

AO 4
1,297,951,307
158,000,000
351,583,107

AO 5
1,890,713,730
158,000,000
351,583,107

Ebitda

766,087,020

1,094,637,775

1,366,487,890

1,807,534,414

2,400,296,837

FLUJO DE CAJA
ITEMS
FCN

AO 0
$

AO 1

(700,965,806) $

Datos
TEA

FCN1
FCN2
FCN3
FCN4
FCN5
VPN
TIR

20%

$
$
$
$
$
$

152,904,806
373,923,483
684,556,593
1,082,987,070
1,554,666,488
2,083,209,449
61.5%

152,904,806 $

AO 2
373,923,483

CAJA
AO 3
$

684,556,593

AO 4
$

1,082,987,070 $

AO 5
1,554,666,488