o

1 Passo - Elaborar a DRE e

1
2
3
4
R$ 40.00
R$ 40.00
R$ 40.00
R$ 40.00
10000
10000
10000
11000
R$ 400,000.00
R$ 400,000.00
R$ 400,000.00
R$ 440,000.00
R$ 72,000.00
R$ 72,000.00
R$ 72,000.00
R$ 79,200.00
R$ 6,600.00
R$ 6,600.00
R$ 6,600.00
R$ 7,260.00
R$ 30,400.00
R$ 30,400.00
R$ 30,400.00
R$ 33,440.00
R$ 12,000.00
R$ 12,000.00
R$ 12,000.00
R$ 13,200.00
R$ 279,000.00
R$ 279,000.00
R$ 279,000.00
R$ 306,900.00
R$ 150,000.00
R$ 150,000.00
R$ 150,000.00
R$ 165,000.00
R$ 129,000.00
R$ 129,000.00
R$ 129,000.00
R$ 141,900.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 71,000.00
R$ 71,000.00
R$ 71,000.00
R$ 83,900.00
R$ 10,650.00
R$ 10,650.00
R$ 10,650.00
R$ 12,585.00
R$ 6,390.00
R$ 6,390.00
R$ 6,390.00
R$ 7,551.00
R$ 53,960.00
R$ 53,960.00
R$ 53,960.00
R$ 63,764.00

Preo de Venda
Quantidade
Receita Bruta
ICMS
PIS
COFINS
Comisso
Receita Lquida
CPV
Margem Contribuio
gua - luz - telefone
prolabore
salrio + encargos
transporte
marketing
depreciao
Lucro Operacional
IR
CS
Lucro Lquido

Contas a Receber
1
2
3
4
5
6
7
8
9
10
11
12

Valor
400000
400000
400000
440000
440000
440000
480000
480000
480000
520000
520000
520000
Total

Fornecedores
1
2
3
4
5
6
7

Valor
150000
150000
150000
165000
165000
165000
180000

1
133333.33

2
133333.33
133333.33

3
133333.33
133333.33
133333.33

R$ 133,333.33

R$ 266,666.67

R$ 400,000.00

1
75000

2
75000
75000

3
75000
75000

8
9
10
11
12

180000
180000
195000
195000
195000
Total

R$ 75,000.00

R$ 150,000.00

R$ 150,000.00

R$ 0.00
R$ 133,333.33
R$ 250,000.00

2
R$ 279,693.43
R$ 266,666.67
R$ 60,000.00

3
R$ 241,680.20
R$ 400,000.00

4
R$ 265,554.59
R$ 413,333.33

R$ 383,333.33
R$ 23,639.90

R$ 606,360.10
R$ 23,639.90

R$ 641,680.20
R$ 23,639.90
R$ 11,445.71

R$ 678,887.92
R$ 23,639.90
R$ 11,445.71

R$ 75,000.00

R$ 103,639.90

R$ 150,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 10,650.00
R$ 6,390.00
R$ 12,000.00
R$ 72,000.00
R$ 6,600.00
R$ 30,400.00
R$ 364,679.90

R$ 150,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 10,650.00
R$ 6,390.00
R$ 12,000.00
R$ 72,000.00
R$ 6,600.00
R$ 30,400.00
R$ 376,125.61

R$ 157,500.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 10,650.00
R$ 6,390.00
R$ 12,000.00
R$ 72,000.00
R$ 6,600.00
R$ 30,400.00
R$ 383,625.61

R$ 29,693.43

-R$ 98,013.23

R$ 23,874.39

R$ 29,707.72

R$ 279,693.43

R$ 241,680.20

R$ 265,554.59

R$ 295,262.31

1
Saldo Inicial
Entradas com vendas
Entradas Financiamentos
Entrada Aplicao financeira
Saldo em Caixa
Financiamento Invest. Inicial
Financiamento Capital de Giro
Aplicao Financeira
Fornecedores - CMV
gua - luz - telefone
prolabore
salrio + encargos
transporte
marketing
IR
CS
Comisso
ICMS
PIS
COFINS
Total de Sadas
Saldo do Ms
Saldo Final Acumul.

R$ 2,000.00
R$ 3,000.00

2o Passo - Calcular as prestaes dos financiamentos de investimento inicial e do capital de g

Financiamento Investimento Inicial

Financiamento Capital de Giro
Aplicao Financeira

Valor Financiado
R$ 250,000.00

Prestao
R$ 23,639.90

R$ 60,000.00
Aplicao
R$ 10,000.00

R$ 11,445.71
Resgate
R$ 10,772.84

3o Passo - Realizar as anlises de viabilidade Payback Descontado TIR VPL

Payback Descontado

11.80

Taxa Interna de Retorno

2.90%

Valor Presente Lquido

R$ 9,685.60

Indice de Lucratividade Mdia

12.45%

TMA -Taxa minima de atratividade

2.50%

a.m.

tempo

Fluxo de caixa - nominal

-R$ 250,000.00

R$ 29,693.43

-R$ 98,013.23

R$ 23,874.39

Fluxo de caixa - valor presente

-R$ 250,000.00

R$ 28,969.20

-R$ 93,290.40

R$ 22,169.74

PAYBACK DESCONTADO
PAYBACK DESCONTADO

-R$ 250,000.00
R$ 0.00

-R$ 221,030.80
R$ 0.00

-R$ 314,321.20
R$ 0.00

-R$ 292,151.46
R$ 0.00

1 Passo - Elaborar a DRE e o Fluxo de Caixa

5
6
7
8
9
10
R$ 40.00
R$ 40.00
R$ 40.00
R$ 40.00
R$ 40.00
R$ 40.00
11000
11000
12000
12000
12000
13000
R$ 440,000.00
R$ 440,000.00
R$ 480,000.00
R$ 480,000.00
R$ 480,000.00
R$ 520,000.00
R$ 79,200.00
R$ 79,200.00
R$ 86,400.00
R$ 86,400.00
R$ 86,400.00
R$ 93,600.00
R$ 7,260.00
R$ 7,260.00
R$ 7,920.00
R$ 7,920.00
R$ 7,920.00
R$ 8,580.00
R$ 33,440.00
R$ 33,440.00
R$ 36,480.00
R$ 36,480.00
R$ 36,480.00
R$ 39,520.00
R$ 13,200.00
R$ 13,200.00
R$ 14,400.00
R$ 14,400.00
R$ 14,400.00
R$ 15,600.00
R$ 306,900.00
R$ 306,900.00
R$ 334,800.00
R$ 334,800.00
R$ 334,800.00
R$ 362,700.00
R$ 165,000.00
R$ 165,000.00
R$ 180,000.00
R$ 180,000.00
R$ 180,000.00
R$ 195,000.00
R$ 141,900.00
R$ 141,900.00
R$ 154,800.00
R$ 154,800.00
R$ 154,800.00
R$ 167,700.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 4,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 20,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 24,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 2,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 3,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 5,000.00
R$ 83,900.00
R$ 83,900.00
R$ 96,800.00
R$ 96,800.00
R$ 96,800.00
R$ 109,700.00
R$ 12,585.00
R$ 12,585.00
R$ 14,520.00
R$ 14,520.00
R$ 14,520.00
R$ 16,455.00
R$ 7,551.00
R$ 7,551.00
R$ 8,712.00
R$ 8,712.00
R$ 8,712.00
R$ 9,873.00
R$ 63,764.00
R$ 63,764.00
R$ 73,568.00
R$ 73,568.00
R$ 73,568.00
R$ 83,372.00

4
133333.33
133333.33
146666.67

R$ 413,333.33

75000
82500

133333.33
146666.67
146666.67

R$ 426,666.67

82500
82500

146666.67
146666.67
146666.67

R$ 440,000.00

82500
82500

146666.67
146666.67
160000.00

R$ 453,333.33

146666.67
160000.00
160000.00

R$ 466,666.67

82500
90000

90000

160000.00
160000.00
160000.00

R$ 480,000.00

90000

90000
90000

R$ 157,500.00

R$ 165,000.00

R$ 165,000.00

R$ 172,500.00

R$ 180,000.00

R$ 180,000.00

5
R$ 295,262.31
R$ 426,666.67

6
R$ 305,607.37
R$ 440,000.00

7
R$ 339,285.76
R$ 453,333.33

8
R$ 378,797.48
R$ 466,666.67

9
R$ 408,946.54
R$ 480,000.00

10
R$ 463,874.64
R$ 493,333.33

R$ 721,928.98
R$ 23,639.90
R$ 11,445.71
R$ 10,000.00
R$ 165,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 12,585.00
R$ 7,551.00
R$ 13,200.00
R$ 79,200.00
R$ 7,260.00
R$ 33,440.00
R$ 416,321.61

R$ 745,607.37
R$ 23,639.90
R$ 11,445.71

R$ 792,619.09
R$ 23,639.90
R$ 11,445.71

R$ 845,464.15
R$ 23,639.90
R$ 11,445.71

R$ 888,946.54
R$ 23,639.90

R$ 10,772.84
R$ 967,980.81
R$ 23,639.90

R$ 165,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 12,585.00
R$ 7,551.00
R$ 13,200.00
R$ 79,200.00
R$ 7,260.00
R$ 33,440.00
R$ 406,321.61

R$ 172,500.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 12,585.00
R$ 7,551.00
R$ 13,200.00
R$ 79,200.00
R$ 7,260.00
R$ 33,440.00
R$ 413,821.61

R$ 180,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 14,520.00
R$ 8,712.00
R$ 14,400.00
R$ 86,400.00
R$ 7,920.00
R$ 36,480.00
R$ 436,517.61

R$ 180,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 14,520.00
R$ 8,712.00
R$ 14,400.00
R$ 86,400.00
R$ 7,920.00
R$ 36,480.00
R$ 425,071.90

R$ 187,500.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 14,520.00
R$ 8,712.00
R$ 14,400.00
R$ 86,400.00
R$ 7,920.00
R$ 36,480.00
R$ 432,571.90

R$ 10,345.06

R$ 33,678.39

R$ 39,511.72

R$ 30,149.06

R$ 54,928.10

R$ 60,761.43

R$ 305,607.37

R$ 339,285.76

R$ 378,797.48

R$ 408,946.54

R$ 463,874.64

R$ 535,408.91

s de investimento inicial e do capital de giro e o montante da aplicao realizada no 5 ms para alimentar o Fluxo de Caixa.
Prestao
R$ 23,639.90
R$ 11,445.71
Resgate
R$ 10,772.84

dade Payback Descontado TIR VPL ILL considerando uma Taxa Mnima de Atratividade de 2,5% ao ms.

R$ 29,707.72

R$ 10,345.06

R$ 33,678.39

R$ 39,511.72

R$ 30,149.06

R$ 54,928.10

R$ 26,913.72

R$ 9,143.53

R$ 29,040.77

R$ 33,239.84

R$ 24,744.74

R$ 43,982.49

-R$ 265,237.74
R$ 0.00

-R$ 256,094.21
R$ 0.00

-R$ 227,053.44
R$ 0.00

-R$ 193,813.60
R$ 0.00

-R$ 169,068.86
R$ 0.00

-R$ 125,086.37
R$ 0.00

11
R$ 40.00
13000
R$ 520,000.00
R$ 93,600.00
R$ 8,580.00
R$ 39,520.00
R$ 15,600.00
R$ 362,700.00
R$ 195,000.00
R$ 167,700.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 5,000.00
R$ 109,700.00
R$ 16,455.00
R$ 9,873.00
R$ 83,372.00

10

160000.00
160000.00
173333.33

R$ 493,333.33

10

12
R$ 40.00
13000
R$ 520,000.00
R$ 93,600.00
R$ 8,580.00
R$ 39,520.00
R$ 15,600.00
R$ 362,700.00
R$ 195,000.00
R$ 167,700.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 5,000.00
R$ 109,700.00
R$ 16,455.00
R$ 9,873.00
R$ 83,372.00

11

160000.00
173333.33
173333.33
R$ 506,666.67

11

Total
R$ 480.00
138000
R$ 5,520,000.00
R$ 993,600.00
R$ 91,080.00
R$ 419,520.00
R$ 165,600.00
R$ 3,850,200.00
R$ 2,070,000.00
R$ 1,780,200.00
R$ 48,000.00
R$ 240,000.00
R$ 288,000.00
R$ 24,000.00
R$ 36,000.00
R$ 60,000.00
R$ 1,084,200.00
R$ 162,630.00
R$ 97,578.00
R$ 823,992.00

12

173333.33
173333.33
173333.33
R$ 520,000.00

12

90000
97500

Fluxo de Caixa.

ms.

97500
97500

R$ 187,500.00

R$ 195,000.00

11
R$ 535,408.91
R$ 506,666.67

12
R$ 586,807.68
R$ 520,000.00

R$ 1,042,075.58
R$ 23,639.90

R$ 1,106,807.68
R$ 23,639.90

R$ 195,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 16,455.00
R$ 9,873.00
R$ 15,600.00
R$ 93,600.00
R$ 8,580.00
R$ 39,520.00
R$ 455,267.90

R$ 195,000.00
R$ 4,000.00
R$ 20,000.00
R$ 24,000.00
R$ 2,000.00
R$ 3,000.00
R$ 16,455.00
R$ 9,873.00
R$ 15,600.00
R$ 93,600.00
R$ 8,580.00
R$ 39,520.00
R$ 455,267.90

R$ 51,398.77

R$ 64,732.10

R$ 586,807.68

R$ 651,539.78

97500
97500
R$ 195,000.00

10

11

12

R$ 60,761.43

R$ 51,398.77

R$ 64,732.10

R$ 47,466.73

R$ 39,173.30

R$ 48,131.93

-R$ 77,619.64
R$ 0.00

-R$ 38,446.34
R$ 0.00

R$ 11.80
R$ 11.80

11.80

4 Passo - Elaborar relatrio de anlise de viabilidade econmico - financeira. - Deve ser

O Payback Descontado demonstra o tempo que leva para se ter o retorno do investimento, ou seja, o tempo necessrio para o invest
em considerao o efeito de se trazer o fluxo de caixa a valor presente, descontado pela TMA. No caso da fabrica de martelo o lucro f
ser vivel em menos de um ano.

A Taxa Interna de Retorno um mtodo utilizado na anlise de projetos de investimento. A TIR definida como a taxa de desconto de
lquido nulo, ou seja, que faz com que o projeto pague o investimento inicial quando considerado o valor do dinheiro no tempo. No pr
e a TIR encontrada foi de 2,9%, logo o projeto e vivel.

O Valor Presente Lquido indica o resultado do investimento, se o VPL for positivo, significa que o investimento economicamente vi
com um VPL de R$9.685,60.

5 Passo Considerando que o martelo est no ramo de ferramentas voc deve fazer uma pesquisa do mercado de
fundamentar seu relatrio de anlise de viabilidade. Para realizar este passo voc pode utilizar como roteiro as seguintes
econmico indica crescimento do setor?
mercado interno e externo?

idade econmico - financeira. - Deve ser explicado cada indicador.

ou seja, o tempo necessrio para o investimento se pagar e comear a dar lucro, levando
A. No caso da fabrica de martelo o lucro foi atingido com 11,80 meses, portanto o projeto

TIR definida como a taxa de desconto de um investimento que torna seu valor presente
erado o valor do dinheiro no tempo. No projeto a taxa minima de atratividade era de 2.5%

que o investimento economicamente vivel, o caso do projeto da fabrica de martelo

e fazer uma pesquisa do mercado de ferramentas no Brasil e utilizar os dados encontrados para
ode utilizar como roteiro as seguintes questes:
A. O atual cenrio
B. Quais as perspectivas do setor no
ado interno e externo?