In: Business and Management

Submitted By fabiouechi
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Mini Case capítulo 2 – Aluno: Fabio Seiki Uechi

a) O efeito que a expansão trouxe para o lucro liquido foi sua redução em $190,00. Em relação aos ativos, ele praticamente dobrou, passando de $1,468,800 para $2,886,592, o que também ocorre com o passivo e o patrimônio liquido.

b) Pela demonstração do fluxo de caixa, é possível perceber que o fluxo de caixa liquido das operações foi negativo, num valor de $(503,936), devido principalmente à renda liquida negativa e as mudanças no capital de giro. Em relação as atividades investidas, foram investidos $711,950 em ativos fixos e recebidos $28,600 devido ao investimento de curto prazo. Nas atividades financeiras, obteve um saldo de $1,185,568 devido as mudanças dos títulos a pagar e investimentos de longo prazo.

c) Fluxo de caixa livre é o montante de dinheiro disponível das operações para distribuição para todos os investidores, apos fazer os investimentos necessários para cobrir as operações. Ele é importante porque mede o valor real da empresa. Os cinco usos do FCF são: a. Pagar juros sobre a divida b. Pagar o principal em divida c. Pagar dividendos d. Comprar de volta ações e. Compra de ativos não operacionais

d) NOPAT = EBIT*(1-taxa)
NOPAT(10)= 17,440*(1-0,4)= $10,464
NOPAT(9)= $125,460
Os ativos circulantes sao as contas que representam os bens e direitos da empresa.
Os passivos circulantes são as obrigações e dividas que a empresa possui.
NOWC(10)= $1,317,842

e) FCF= nopat – Capital de Invesimento Liquido
= 10,648-(2,257,632-1,138,600) = - $1,108,568

f) ROIC = NOPAT/ Total do Capital Liquido Operacional
ROIC(10)= 10,464/2,257,632=0,5%
ROIC (9)=11,0%
O ROIC em 2012 foi menor do que 10%, portanto, os investidores obtiveram o retorno que esperavam.

g) EVA = NOPAT –…...

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