Operation Manual

6: Cálculos de Fluxo de Caixa 79
NPV e IRR/YR: Fluxos de Caixa Descontínuos
2FDStWXORGHPRQVWURXRXVRGHGLDJUDPDVGHIOX[RGHFDL[DSDUD
UHVROYHUSUREOHPDVILQDQFHLURV (VWDVHomRGHVFUHYHRVIOX[ RVGHFDL[D
GHVFRQWDGRV$VIXQo}HV139H ,55<5VmRIUHTHQWHPHQWHFKDPDGDV
GHIXQo}HVGHIOX[RVGHFDL[DGHVFRQWDGRV
4XDQGRXPIOX[RGHFDL[DpGHVFRQWDGRRXVXiULRFDOFXODVHXYDORU
SUHVHQWH4XDQGRYiULRVIOX[RVGHFDL[DVmRGHVFRQWDGRVRXVXiULR
FDOFXODRVYDORUHVSUHVHQWHVHRVVRPD
$IXQomRGHYDORUSUHVHQWHOtTXLGR139HQFRQWUDRYDORUSUHVHQWHGH
XPDVpULHGHIOX[RVGHFDL[D$WD[DGHMXURQRPLQDODQXDOGHYHVHU
FRQKHFLGDSDUDRFiOFXORGR139
$IXQomRGHWD[DLQWHUQDGHUHWRUQR,55<5FDOFXODDWD[DGHMXUR
QRPLQDODQXDOQHFHVViULDSDUDIRUQHFHUXPYDORUSUHVHQWHOtTXLGRLJXDOD
]HUR
$XWLOLGDGHGHVVDVGXDVIHUUDPHQWDVILQDQFHLUDVWRUQDVHFODUDDSyVDOJXQV
H[HPSORV$VGXDVSU y[LPDVVHo}HVGHVFUHYHPFRPRRXVXiULRGHYH
RUJDQL]DUHLQFOXLUIOX[RVGHFDL[D9HMDDEDL[RH[HPSORVGHFiOFXORV
139 H,55<5
Organização de Fluxos de Caixa
$VpULHGHIOX[RVGHFDL[DpRUJDQL]DGDHPXPIOX[RGHFDL[DLQLFLDO &)
HJUXSRVGHIOX[R GHFDL[DVXFHVVLY RVDWpIOX[RV GHFDL[D&)RFRUUHQR
LQtFLRGRSULPHLURSHUtRGR8PJUXSRGHIOX[RGHFDL[DFRQVLVWHHPXP
YDORUGHIOX[RGHFDL[DHQRQ~PHURGHUHSHWLo}HV
3RUH[HPSORQRGLDJUDPDGHIOX[RGHFDL[DDEDL[RRIOX[RGHFDL[D
LQLFLDOp²2SUy[LPRJUXSRGHIOX[RVGHFDL[DFRQVLVWHHPVHLV
IOX[RVGH]HURFDGDVHJXLGRSRUXPJUXSRGHWUrVIOX[RVGHFDL[DGH
2JUXSRILQDOFRQVLVWHHPXPIOX[RGHFDL[DGH
10B.book Page 79 Sunday, June 25, 2000 1:17 PM