Flujo de Efectivo

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CONTADORES

&EMPRESAS PARA

CONTADORES,

ADMINISTRADORES

Y GERENTES

SISTEMA INTEGRAl de INFORMACIÓN

Elaboración de un estado de flujosde efectivo Miguel Bobadilla La Madrid

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CONTADORES & EMPRESAS

ELABORACIÓN DE UN ESTADO DE FLUJOS DE EFECTIVO

PRIMERA EDICIÓN FEBRERO 2010 7,030 EJEMPLARES PROHIB PROHIBIDA IDA SU REPRO REPRODUC DUCCI CI N TOTAL O PARCIAL DERECHOS RESERVADOS D. LEG. Nº 822

 ©  Mig uel B obadilla La Madrid   ©  G aceta ceta Jurídica S .A.

HECHO EL DEPÓSITO LEGAL EN LA BIBLIOTECA NACIONAL DEL PERÚ 2010-02167 LEY Nº 26905 / D.S. Nº 017-98-ED ISBN: 978-612-4038-66-2 REGISTRO DE PROYECTO EDITORIAL 31501221000174

1 ÍNDICE Introducción ...................................................... .................................................................................... ...................................... 3 ........ Evolución de la normativa relacionada al estado flujos de de efectivo ...... 6 Primera parte: Norma Internacional de Contabilidad (NIC) 7: Estado de Flujos de Efectivo ...................................................... .................................................................................... ................................ 7 .. Segunda parte: Elaboración del estado flujos flujosdede efectivo .................... 18 Caso práctico N° 1 ........................................................ ..................................................................................... ............................. 26 Caso práctico N° 2 ........................................................ ..................................................................................... ............................. 31 Caso práctico N° 3 .................................................................................... ...................................................................................... 36 Caso práctico N° 4 ........................................................ ..................................................................................... ............................. 42 Resumen ........................................................... ............................................................................................ ................................. 49

DIAGRAMACIÓN DE CARÁTULA Martha Hidalgo Rivero DIAGRAMACIÓN DE INTERIORES Erika Cuadros Grados

G ACETA J URÍDICA S.A. A NGAMOS OESTE 526 - MIRAFLORES LIMA 18 - PERÚ CENTRAL TELEFÓNICA: (01)710-8900 FAX: 241-2323 E-mail:[email protected] E-mail:[email protected] www.contadoresyempresas.com.pe Imprenta Editorial El Búho E.I.R.L. San Alberto 201 - Surquillo

Norma Internacional de Contabilidad N° 7 ................................................. ................................................. 50

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ELABORACIÓN DE UN ESTADO DE FLUJOS DE EFECTIVO

INTRODUCCIÓN La contabilidad es una disciplina del conocimiento humano que permite preparar información de carácter general sobre la entidad económica. Esta información es mostrada por los estados fi nancieros. La expresión “estados fi nancieros” comprende: balance general, estado de ganancias y pérdidas, estado de cambios en el patrimonio neto, estado de fl ujos de efectivo (en adelante EFE). Los estados fi nancieros son documentos cuadros ordenados sistemáticamente que muestran la situación fi nanciera, los resultados de las operaciones y los cambios en la situación fi nanciera de una entidad en un periodo determinado, de acuerdo a los principios de contabilidad generalmente aceptados, es decir, de acuerdo con las Normas Internacionales de Información Financiera (NIIFs). La situación fi nanciera se muestra a través del balance general, los resultados de las operaciones a través del estado de ganancias y pérdidas y los cambios en la situación fi nanciera a través del estado de cambios en el patrimonio neto y a través del estado de fl ujos de efectivo. Estos son los cuatro estados fi nancieros básicos que se reconocen en el Perú para todo propósito. Según el Instituto Americano de Contadores Públicos Titulados. “Los estados fi nancieros

son importantes porque se preparan con el fi n de presentar una revisión periódica o informe acerca del progreso de la administración y trata sobre la situación de las inversiones en el negocio y los resultados obtenidos durante el periodo que se estudia. Refl eja una combinación de hechos registrados, convenciones contables y juicios personales; los juicios y convenciones aplicados los afectan en grado sustancial”.

Las características fundamentales que deben tener los es tados fi nancieros son utilidad y confi abilidad. La utilidad, en el entendido de adecuarlos al propósito de los usuarios, entre los que se encuentran los accionistas, los inversionistas, los trabajadores, los proveedores, los acreedores, el Gobierno y, en general, la sociedad. La confi abilidad refl eja la veracidad de lo que está sucediendo en la empresa.

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GUÍA OPERATIVA DE TEMAS CLAVES

En adición a lo ya mencionado, el Reglamento de Información Financiera de Conasev (1), en su artículo 3 señala que los estados fi nancieros tienen, fundamentalmente, los siguientes objetivos: •

Presentar razonablemente razonablemente información información sobre la situación fi nanciera, los resultados resultados de las operaciones y los fl ujos de efectivo del negocio.

•

Apoyar a la gerencia en la planeación, organización, dirección dirección y control de los negocios.

•

Servir de base para tomar decisiones decisiones sobre inversiones y fi nanciamiento. nanciamiento.

•

•

•

Representar una herramienta para evaluar la gestión de la gerencia y la capacidad de la empresa para generar efectivo y equivalente de efectivo. Permitir el control control sobre las operaciones operaciones que realiza la empresa. empresa. Ser una base para guiar la política política de la gerencia y de los accionistas accionistas en materia societaria.

Para cumplir con los objetivos de los estados fi nancieros debemos también tener en cuenta quiénes son los usuarios de los estados fi nancieros, con la fi nalidad de identifi car sus necesidades y de esta manera proveerles de información útil y confi able. De acuerdo con la doctrina, entre los principales usuarios de los estados fi nancieros tenemos: •

Los accionistas, pues como propietarios del negocio están interesados en la inversión

•

del capital, en los activos, en las utilidades actuales y en las probables, así como en deudas y obligaciones que tienen prioridad. La gerencia, que es directamente responsable de las fi nanzas y las operaciones.

•

El mercado bursátil , que se convierte en fuerte alternativa de fi nanciamiento

empresarial. •

Los inversionistas   están interesados en las perspectivas futuras en cuanto a las

•

ganancias, al crecimiento del negocio y a la consistencia fi nanciera. Los bancos y acreedores en general poseen un interés vital en los estados fi nancieros.

•

Los empleados , porque en la medida que tomen conciencia de su rol en la empresa,

trabajarán por su solidez fi nanciera, por su rentabilidad y por s u expansión. Como bien se ha señalado, los estados fi nancieros deben servir de apoyo a la entidad para la toma de decisiones. Para esto deben utilizarse la totalidad de ellos, es d ecir, balance general, estado de ganancias y pérdidas, estado de cambios en el patrimonio neto y estado de fl ujos de efectivo. Sin embargo, el uso de los dos primeros estados fi nancieros es el más difundido, siendo relegados los dos últimos ya que quizá su preparación no es del todo comprendida. Por tal motivo, en el presente trabajo nos vamos a centrar en uno de los estados fi nancieros menos difundidos: el estado de fl ujos de efectivo. El EFE es aquel estado fi nanciero básico que muestra los cambios en la situación fi nanciera a través del efectivo y equivalente de efectivo de la empresa de acuerdo con los

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(1)

Aprobado mediante la Resolución Conasev N° 103-99-EF/94.10.

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Elaboración de un estado de flujos de efectivo

de contabilidad generalmente aceptados (PCGA), es decir, de conformidad con las Normas Internacionales de Información Financiera (NIIFs). El EFE ofrece al empresario la posibilidad de conocer y resumir los resultados de las ac tividades financieras financieras de la empresa en un periodo determinado y poder inferir las razones de los cambios en su situación financiera, financiera, constituyendo una importante ayuda en la admi nistración del efectivo, el control del capital y en la utilización e ficiente de los recursos en el futuro. Este estado fi nanciero nos permite una evaluación de la situación actual y futura en rela ción al efectivo de una empresa. En relación con la situación actual, ayuda a los usuarios de los estadosfi estadosfinancieros a eva luar la habilidad de la entidad para generar efectivo (equivalente de efectivo) y la necesidad de utilización u tilización de dichos fl ujos. En relación con la situación futura, es un indicador del importe, la oportunidad y la cer tidumbre acerca de los flujos de caja, y es útil para revisar la exactitud de las evaluaciones anteriores de fl ujos futuros de caja y para examinar examinar la relación relación entre la rentabilidad rentabilidad y el flu flu o de caja. La parte teórica relativa a este estado financiero se encuentra en la Norma Internacional de Contabilidad (NIC) 7, por lo que en primer término abordaremos esta NIC. En una segunda parte esbozaremos una sinopsis del procedimiento para su elaboración, para que en una ter cera parte se realicen aplicaciones prácticas que permitan aterrizar lo plasmado en la teoría.

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GUÍA OPERATIVA DE TEMAS CLAVES

EVOLUCIÓN DE LA NORMATIVA RELACIONADA AL ESTADO DE FLUJOS DE EFECTIVO El EFE, así como su sustrato que es la contabilidad de fondos y fl ujos de efectivo, no es reciente. A continuación mostraremos la evolución de la normativa relativa a este estado fi nanciero: APB Opinion 19 (1971): exigió que se presentara un estado de cambios en la situación

fi nanciera como informe básico en el que se explicaran los cambios de capital circulante o tesorería. Financial Accounting Concepts 5 (1984), emitido por el FASB:  se establece que un

conjunto completo de estados fi nancieros para un periodo de información, debe mostrar, entre otros, los fl ujos de efectivo durante el periodo. Declaración FASB N° 95 Estado de Flujos de Efectivo (1987): establece normas para

el informe de fl ujos de efectivo, reemplaza la opinión N° 19 del APB. Requiere un estado de fl ujos de efectivo como parte de los estados fi nancieros para todas las empresas en vez de un estado de cambios en la situación fi nanciera. La declaración requiere que en el EFE se clasifi quen los recaudos y pagos de efectivo según ellos s urjan de actividades de operación, inversión o fi nanciamiento, y provee defi niciones para cada categoría. CPC 4 Estado de Flujos de Efectivo (1991): este principio de contabilidad c ontabilidad generalmente

aceptado peruano fue emitido por el Instituto de Investigaciones de Ciencias Contables y Financieras del Colegio de Contadores Públicos de Lima en el mes de septiembre de 1991. Esta norma ha tenido como fuente de inspiración el FASB 95 de la Junta de Norma de Contabilidad Financiera. NIC 7 Estado de Flujos de Efectivo (1992): revisada en 1992, rige para los estados fi

nancieros correspondientes a ejercicios que comiencen el 1 de enero de 1994 o después de esa fecha. Deja sin efecto la NIC 7 Estado de cambios en la situación fi nanciera, aprobada en julio de 1977. Elaboración de un estado de flujos de efectivo

PRIMERA PARTE

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El objetivo de esta norma es proveer información del desenvolvimiento de efectivo o equivalente del efectivo de manera estructurada en ac tividades para que los us usuarios uarios puedan analizar la capacidad que tiene la empresa de generar efectivo, así como evaluar los usos del efectivo generado.

Alcance •

La empresa debe debe preparar su estado de fl ujos de efectivo efectivo de acuerdo acuerdo con los requerimientos de la NIC 7 y presentarlo como parte integrante de los estados fi nancieros.

•

Los usuarios de la información fi nanciera necesitan conocer las fuentes de fifi nanciamiento con los que cuenta la empresa, para el cumplimiento de las obligaciones en el curso normal de las actividades empresariales.

Defi niciones •

Efectivo.- Comprende dinero en efectivo y depósitos a la vista.

•

Equivalentes de efectivo.- Son inversiones de corto plazo altamente liquidas, que son

•

fácilmente convertibles en cantidades conocidas de efectivo y que no están sujetas a riesgos signifi cativas de cambios en su valor. Se convertirán en efectivo en un plazo menor a 3 meses de su fecha de adquisición y se mantienen con el propósito de cumplir obligaciones de corto plazo. Flujos de efectivo.- Son entradas y salidas de efectivo y equivalentes de e fectivo.

Presentación del estado de fl ujos de efectivo El estado de fl ujos de efectivo debe presentar los fl ujos de efectivo durante el ejercicio, clasifi cándolos por actividades de operación, inversión y fi nanciación. De acuerdo al tipo de actividad económica que las empresas realicen, deberán presentar los fl ujos de efectivo por las actividades de operación, inversión y fi nanciación. En el caso de los fl ujos de efectivo de una transacción que pertenezca a más de una actividad, estas tendrán que informarse a la actividad que les corresponda, como es el caso de una amortización de préstamos a una entidad fi nanciera, donde la cuota de repago incluye la amortización del capital y los intereses. El fi nanciamiento que una empresa realiza con un tercero es con el propósito de incorporar capital de trabajo para que la empresa e mpresa pueda operar con mayor holgura y dinamismo; es por esta razón que el servicio del dinero en el tiempo

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GUÍA OPERATIVA DE TEMAS CLAVES

llamado interés tiene que ser considerado como un egreso de efectivo de las actividades de operación y la devolución del capital debe ser considerado en la actividad ac tividad de fi nanciación. Podemos resumir que en el ciclo de un negocio se generanfl generanflujos positivos p ositivos de efectivo (in gresos de efectivo), así como flujos negativos de efectivo, los cuales devienen de las activi dades propias del negocio, así como c omo a financiamiento y/o inversión (ver figura figura 1). FIGURA 1

Ingresos

Egresos

Inversión

Inversión

Financiamiento

Financiamiento

Operación

Operación

Flujo positivo (+)

Flujo negativo (-)

Actividades del flujo flujo de efectivo Este estado financiero debe mostrar los flujos de d e efectivo durante el ejercicio, clasi ficán dolos por actividades de operación, inversión y fi nanciamiento. Actividades Actividades de operación En esta actividad se deben mostrar los flujos de efectivos (ingresos y salidas), relaciona dos con las actividades vinculadas al objeto social de la empresa. Adicionalmente, Adicionalmente, en este tipo de actividades deben incluirse aquellas que no son s on de inversión ni de financiamiento. En otras palabras, esta es una categoría “por defecto”.

Los siguientes son ejemplos de fl ujos de efectivo de las de actividades de operación:

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Elaboración de un estado de flujos de efectivo

Para determinar los fl ujos de efectivo provenientes de las actividades de operación debemos tener en claro los conceptos de actividades vinculadas al objeto social del negocio. Por ejemplo, presentamos el siguiente estado de ganancias y pérdidas (ver fi gura 2): FIGURA 2 Partidas Anami E.I.R.L. ventas, costo de Estado de ganancias y pérdidas administravos y Al 31 de diciembre de 2009 impuestos ( En miles de nuevos soles ) generan o efectivo para su Ventas 19,950 su defecto, en Costo de ventas (11,101) cobro o pago se 8,849 adoptará la Utilidad bruta cuentas por cuentas por Gastos administrativos (4,000) (3,000) Amortización Amortizac ión de goodwill cuales forman Gastos de ventas o pasivo Ganancia por venta de activo fijo 52 resultados provienen de 1,871 propias del Utilidad antes de impuestos Impuesto a la Renta (920) que los ingresos Corriente (900) Diferido (20) efectivo estas partidas 951 de los casos Utilidad neta cados como actividades de operación(2).

(30)

tales como ventas, gastos de ventas, e corrientes requieren de liquidación o, en caso de que su retrase forma de cobrar o pagar, las parte del activo corriente. Estos generalmente las actividades negocio, por lo o egresos de vinculados a en la mayoría son clasifi

Es importante tener en cuenta que existen partidas que provienen de las actividades de

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Los siguientes ejemplos son de fl ujos de d e efectivo de las actividades de inversión: a. Ingresos de efectivo efectivo por la venta de inmuebles, inmuebles, maquinarias y equipos. b. Ingresos de efectivo efectivo por la venta de activos intangibles. c. Ingresos de efectivo efectivo por la venta venta de acciones o títulos de de deuda de otras empresas. d. Egresos de efectivo para la compra de acciones o títulos de deuda. e. Egresos de efectivo por la compra de activos fi jos e intangibles. intangibles.  Al momento de la elaboración del EFE este tipo de actividades se encuentra encuentra relacionada con la variación del activo no corriente. ACTIVIDADES DE FINANCIAMIENTO En esta actividad se deben mostrar los fl ujos de efectivos relacionados con los endeudamientos que realiza la empresa como consecuencia de necesidades de efectivos; así también se registran las amortizaciones y los aportes de accionistas, entre otros. Las operaciones que se presentan bajo esta clasifi c lasifi cación modifi can el tamaño y composición del patrimonio y los préstamos.

Los siguientes ejemplos son de fl ujos de efectivo de las de actividades de fi nanciamiento: a. Ingresos de efectivo por emisión emisión de acciones. b. Ingresos de efectivo por aumento aumento de capital. c. Ingresos de efectivo efectivo por la emisión de bonos y otros instrumentos fi nancieros. d. Ingresos de efectivo por préstamos de entidades fifi nancieras y/o y/o bancarias y otras formas de fi nanciamiento, ya sea a corto y/o largo plazo. e. Egresos de efectivo por la devolución de aportes. aportes.

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Elaboración de un estado de flujos de efectivo

diferimientos o devengamientos de entradas o salidas de efectivo operativas pasadas o fu turas y de partidas de ingreso o de gasto, asociados asociados con flujos flujos de efectivo de inversión o de financiación. La diferencia principal entre ambos métodos está dada porque el método directo detalla los principales componentes de ingresos y desembolsos de cada una de las actividades de operación, mientras mientras que el método método indirecto indirecto informa el flujo flujo neto de caja de actividades de operación. Se recomienda a las empresas presentar sus flujos de efectivo usando el método directo, porque provee de información que puede ser útil ú til para estimar flujos de caja futuros, lo cual el método indirecto no provee. El reglamento reglamento de información información financiera fi nanciera(4) emitido por la Conasev provee los siguientes modelos del EFE, por los dos métodos: FIGURA 3.1 MODELO DE MÉTODO DIRECTO Razon social ESTADO DE FLUJO DE EFECTIVO (Notas 1 y 2) Por los años terminado Al XXXXXX Al XXXXXX S/. S/. ACTIVIDADES DE OPERACIÓN Cobranzas a clientes Otros ingresos relativos a la actividad Menos: Pagos a proveedores Pagos de remuneraciones y beneficios sociales

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GUÍA OPERATIVA DE TEMAS CLAVES

FIGURA 3.2 MODELO MÉTODO DIRECTO (CONCILIACIÓN) ESTADO DE FLUJOS DE EFECTIVO (Continuación) Por los años terminados

Conciliación del resultado neto del periodo con el efectivo o equivalente de efectivo proveniente de la actividad de operación Utilidad (pérdida) neta del periodo y del año Más: Ajustes a los resultados netos Depreciación y amortización del periodo Provisión para beneficios sociales Resultado por exposición a la inflación

Cargos y abonos por cambios netos en el activo y pasivo Aumento (Dism.) en cuentas por cobrar comerciales Aumento (Dism.) en cuentas por cobrar al personal Aumento (Dism.) en otras cuentas por cobrar Aumento (Dism.) en existencias Aumento (Dism.) en gastos pagados por anticipado Aumento (Dism.) de cuentas por pagar comerciales Aumento (Dism.) de tributos por pagar

Al xxxxxx

Al xxxxxx

S/.

S/.

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Elaboración de un estado de flujos de efectivo

FIGURA 3.3 MODELO DE MÉTODO INDIRECTO Razón social ESTADO DE FLUJO DE EFECTIVO (Notas 1 y 2) Por los años terminados Al XXXX Al XXXX

S/. RECONCILIACIÓN DEL RESULTADO NETO CON EL EFECTIVO Y EQUIVALENTE DE EFECTIVO DE LAS ACTIVIDADES DE OPERACIÓN Utilidad (pérdida) neta del periodo y del año Más: Ajustes a los resultados netos Depreciación y amortización del periodo Provisión para beneficios sociales

Cargos y abonos por cambios netos en el activo y pasivo Aumento (Dism.) en cuentas por cobrar comerciales Aumento (Dism.) en cuentas por cobrar al personal Aumento (Dism.) en otras cuentas por cobrar Aumento (Dism.) en existencias Aumento (Dism.) en gastos pagados por anticipado Aumento (Dism.) de cuentas por pagar comerciales Aumento (Dism.) de tributos por pagar

S/.

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GUÍA OPERATIVA DE TEMAS CLAVES

Información a revelar sobre fl ujos de efectivo en términos netos La NIC 7 permite que determinado tipo de operaciones, independientemente del tipo de actividad que las origina, puedan presentarse en términos netos. Estas son: a. Los fl ujos de efectivo que refl ejan ejan las actividades de los clientes en lugar de las actividades de la entidad se deben presentar netos. Son ejemplos de este tipo de fl ujos (entradas y salidas) d e efectivo: •

La aceptación y reembolso de depósitos a plazo.

•

Los alquileres alquileres cobrados por cuenta de y pagados a los los propietarios propietarios de los los inmuebles. inmuebles.

•

Gastos de clientes y reembolso posterior.

•

Cobranzas y pagos relacionados a ventas por concesiones.

b. Los fl ujos de efectivo relacionados relacionados a operaciones en que la la reversión es inmediata, los montos son importantes y la maduración es a muy corto plazo. Son ejemplos de este tipo

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de operación con el fi n de ayudar a los usuarios a determinar determinar la capacidad de la empresa para pagar dividendos con los fl ujos de efectivo operativos”.

Impuesto a la Renta Los fl ujos de efectivo relacionados relacionados con el Impuesto Impuesto a la Renta serán serán considerados como fl ujos de efectivo de actividades de operación, a menos que puedan s er específi camente relacionados con actividades de fi nanciación o inversión.

Transacciones Transacciones que no implican movimientos de efectivo Las operaciones de inversión o fi nanciación que no han supuesto supuesto el uso de efectivo o equivalentes de efectivo deben excluirse excluirse del estado de fl ujos de efectivo. No obstante, tales tales transacciones deben ser objeto de información en cualquier otra parte dentro de los estados fi nancieros, de manera que suministren suministren información relevante relevante acerca de las actividades de inversión o fi nanciación. Entre este tipo de operaciones tenemos: •

Conversión de deuda en patrimonio (capitalización de deuda).

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Por ejemplo, un EFE presenta como saldo de efectivo y equivalente de efectivo al cierre de 2009 el importe de S/. 8,810 miles de nuevos soles, y teniendo como importes consignados del balance general tanto en el rubro caja como sobregiros bancarios los importes de S/. 12,010 miles y S/. 200 miles de nuevos soles (fi gura 4), y además teniendo que la nota a los EE.FF. de caja y bancos presenta el detalle de los componentes de este rubro (fi gura 5), es necesario realizar la conciliación presentada en la fi gura 6. FIGURA 4 Anami E.I.R.L. Balance general al 31 de diciembre de 2009 ( En miles de nuevos soles ) Activo

Pasivo y patrimonio

Efectivo y equivalente de efectivo 12,010

Sobregiros bancarios

Cuentas por cobrar comerciales

Cuentas por pagar comerciales

9,000

FIGURA 5 Nota: Efectivo y equivalente de efectivo

200 5,000

Como se puede apreciar de la fi gura 6, a efectos de la

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Elaboración de un estado de flujos de efectivo ow , es una herramienta fi nanciera que permite conocer la proyec El flujo flujo de caja o cash fl ow  ción de ingresos y egresos de efectivo durante un determinado horizonte, en base a las polí ticas de cobranzas, pagos, inversión, con el propósito de tomar medidas correctivas en bus ca de la optimización de los lo s recursos financieros.

Tanto el estado de flujos de efectivo como el flujo de caja son s on herramientas indispensa bles para la gestión fi nanciera, por lo que se recomienda que en el caso del estado de flujos de efectivo sea elaborado conjuntamente c onjuntamente con los demás estados financieros intermedios de manera oportuna.

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GUÍA OPERATIVA DE TEMAS CLAVES

SEGUNDA PARTE ELABORACIÓN ELABORACIÓN DEL ESTADO DE FLUJOS DE EFECTIVO El procedimiento para la elaboración del EFE no se encuentra descrito dentro de la NIC 7. Diversos autores han establecido procedimientos para su elaboración, los cuales pueden ser distintos en forma pero semejante en el fondo, es decir, en la lógica del procedimiento, el cual es netamente contable.

Para elaborar el estado de fl ujos de efectivo e fectivo se necesitan los siguientes documentos: •

Balance general del periodo o año del cual se desea la formulación del fl ujo de efectivo, comparativo con las cifras del ejercicio anterior. Recordemos que la NIC 1 establece que las cifras del balance general deben presentarse comparativas de aquellas del ejercicio anterior.

•

Estado de ganancias y pérdidas del periodo o año del que se desea la formulación del fl ujo de efectivo.

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Elaboración de un estado de flujos de efectivo

Entonces, ¿cómo es que el EFE re fleja los movimientos del efectivo efectivo y equivalente de efectivo? Este EEFF se prepara bajo la lógica del origen y aplicación de fondos, lo que invo lucra identifi identificar las variaciones de las cuentas de balance entre un periodo y otro subsiguien te e identifi identificar car bajo las siguientes reglas si se trata de una entrada de efectivo (origen) o una salida de efectivo (aplicación): •

 Aumento de activo aplicación aplicación (AAA). (AAA). Disminución de activo origen (DAO).

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GUÍA OPERATIVA DE TEMAS CLAVES

3. Aumento de pasivo y patrimonio 2008

2009

Cuentas por pagar diversas 930, 000 Capital

550,000

780,000

1,100, 000

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Ventas devengadas en el periodo 2009: S/. 1,190,000 (incluye IGV). Elaboración de un estado de flujos de efectivo

Con estos datos, y teniendo en cuenta la doctrina contable, identifi camos el fl ujo de efectivo del periodo con mayor exactitud: Saldo al 01/01/2009

:

S/. 1,050,000 (+)

Ventas del periodo

:

S/. 1,190,000

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FIGURA 7 Modelo de papel de trabajo Balances Cuentas

Variaciones

Actual Anterior Deudor Acreedor

Asientos contables

Ajustes Cargo Abono

Actividades Usos Fuentes

Operación Inversión Financ.

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Elaboración de un estado de flujos de efectivo

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GUÍA OPERATIVA DE TEMAS CLAVES

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44. Muchas actividades de inversión o fi nanciación no tienen un impacto impacto directo en los fl ujos de efectivo del periodo, a pesar de que afectan a la estructura de los activos y del capital utilizado por la entidad. La exclusión de esas transacciones no monetarias del estado de fl ujo de efectivo resulta coherente con el objetivo que persigue este documento, puesto que tales partidas no producen fl ujos de efectivo en el periodo corriente. Ejemplos de transacciones no monetarias de este tipo son: (a) La adquisición de activos, ya sea asumiendo asumiendo directamente los pasivos por su fifi nanciación o entrando en operaciones de arrendamiento fi nanciero. (b) La compra de una entidad mediante una ampliación ampliación de capital. capital. (c) La Conversión de deuda en patrimonio patrimonio neto. neto. COMPONENTES DE LA PARTIDA EFECTIVO Y EQUIVALENTES AL EFECTIVO 45. La entidad debe revelar los componentes de la partida efectivo efectivo y equivalentes al efectivo, efectivo, y debe presentar una conciliación de los saldos que fi guran en su estado de fl ujo de efectivo con las partidas equivalentes en el balance.

46. Las entidades revelarán los criterios adoptados para determinar la composición de la partida Efectivo y equivalentes al efectivo por causa de la variedad de prácticas de gestión de efectivo y de servicios bancarios relacionados con ella en todos los países del mundo, y además para dar cumplimiento a lo previsto en la NIC 1 Presentación de estados fi nancieros. 47. El resultado de cualquier cambio en las políticas de determinación del efectivo y equivalentes al efectivo (por ejemplo, un cambio en la clasifi cación de instrumentos fi nancieros que antes se consideraban c onsideraban parte de la cartera de inversión, se presentará, en los estados fi nancieros de la entidad, de acuerdo con la NIC 8 Políticas contables, cambios en las estimaciones contables y errores). OTRAS INFORMACIONES A REVELAR  48. La entidad debe revelar en sus estados fi nancieros nancieros acompañado de un comentario por por parte de la gerencia, cualquier importe signifi cativo de sus saldos de efectivo y equivalentes al efectivo que no esté disponible para ser utilizado por ella misma o por el grupo al que pertenece.

49. Existen diversas circunstancias en las que los saldos de efectivo y equivalentes al efectivo, mantenidos por la entidad, no están disponibles para su uso por parte del grupo. Un ejemplo de tal situación son los saldos de efectivo y equivalentes de una subsidiaria GUÍA OPERATIVA DE TEMAS CLAVES

que opera en un país donde existen controles de cambio u otras restricciones legales, de manera que los citados saldos no están disponibles para uso de la controladora o de las demás subsidiarias. 50. Puede ser relevante para los usuarios conocer determinadas informaciones informaciones adicionales, sobre la entidad, que les ayuden a comprender su posición fi nanciera y liquidez. Por tanto, se aconseja a las entidades que publiquen, junto con un comentario de la gerencia, informaciones tales como las siguientes:

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(a) El importe de los préstamos no dispuestos, dispuestos, que pueden estar disponibles para actividades de operación o para el pago de operaciones de inversión o fi nanciación, indicando las restricciones sobre el uso de tales medios fi nancieros. (b) El importe agregado de los flfl ujos de efectivo, distinguiendo distinguiendo los de actividades de operación, de inversión y de fi nanciación, relacionados con participaciones en negocios conjuntos que se integran en los estados fi nancieros mediante consolidación proporcional. (c) El importe acumulado de fl ujos de efectivo que representen incrementos en la capacidad de operación, separado de aquellos otros que se requieran para mantener la capacidad de operación de la entidad. (d) El importe de los los fl ujos de efectivo efectivo por actividades de operación, operación, de inversión y de fifi nanciación, que procedan de cada uno de los segmentos de negocio y geográfi cos considerados para elaborar los estados fi nancieros (véase la NIC 14 Información Financiera por Segmentos). 51. La información por separado de los fl ujos de efectivo que incrementan la capacidad operativa, distinguiéndolos de aquellos otros que sirven para mantenerla, es útil por permitir a los usuarios juzgar acerca de si la entidad está invirtiendo adecuadamente para mantener su capacidad operativa. Toda entidad que no esté invirtiendo adecuadamente en el mantenimiento mantenimiento de su capacidad operativa puede estar perjudicando su rendimiento futuro a cambio de mejorar la liquidez presente y las distribuciones de ganancias a los propietarios. 52. La presentación de fl ujos de efectivo por segmentos segmentos permitirá a los usuarios obtener una mejor comprensión de las relaciones entre los fl ujos de efectivo de la entidad en su conjunto y los de cada una de sus partes integrantes, así como de la variabilidad y disponibilidad de los fl ujos de los segmentos considerados. FECHA DE VIGENCIA 53. Esta norma internacional de contabilidad tendrá vigencia para los estados fi nancieros que cubran periodos que comiencen a partir del 1 de enero de 1994.

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