Gestion Financiera Sesión 01-02 PDF

October 2, 2022 | Author: Anonymous | Category: N/A
Share Embed Donate


Short Description

Download Gestion Financiera Sesión 01-02 PDF...

Description

 

1

󰁇󰁅󰁓󰁔󰁉󰃓󰁎 󰁆󰁉󰁎󰁁󰁎󰁃󰁉󰁅󰁒󰁁

 

󰁅󰁶󰁡󰁬󰁵󰁡󰁣󰁩󰃳󰁮 •

PF = (PE + EP + EF)/3



PE = (P1 + P2 + P3)/3

Donde: PF = Promedio Final EP = Examen Parcial (escrito) EF = Examen Final (escrito) PE = Promedio de Evaluaciones P1, P2 = Prácticas Calificadas P3 = Trabajo Grupal de Fin de Curso 2

 

3

󰁇󰁅󰁓󰁔󰁉󰃓󰁎 󰁆󰁉󰁎󰁁󰁎󰁃󰁉󰁅󰁒󰁁 Sesión 01 Fundamentos de Administración Financiera

 

󰁃󰁯󰁮󰁴󰁥󰁮󰁩󰁤󰁯 •

Entorno de los Negocios



Finanzas



Función administrativa financiera



Finanzas con la economía



Finanzas con la contabilidad

4

 

󰁅󰁮󰁴󰁯󰁲󰁮󰁯 󰁤󰁥 󰁬󰁯󰁳 󰁎󰁥󰁧󰁯󰁣󰁩󰁯󰁳

Fuente: http://www.imasdea.com.m http://www.imasdea.com.mx/modelo-de-negocio-netfl x/modelo-de-negocio-netflix-2007-2013-enix-2007-2013-en-canvas/ canvas/

5

 

󰁅󰁮󰁴󰁯󰁲󰁮󰁯 󰁤󰁥 󰁬󰁯󰁳 󰁎󰁥󰁧󰁯󰁣󰁩󰁯󰁳

󰁆󰁵󰁥󰁮󰁴󰁥: 󰁐󰁷󰁃󰀭󰁓󰁴󰁵󰁤󰁩󰁥 "󰁗󰁥󰁬󰁴󰁷󰁩󰁲󰁴󰁳󰁣󰁨󰁡󰁦󰁴: 󰁃󰁅󰁏󰁳 󰁶󰁥󰁲󰁴󰁲󰁡󰁵󰁥󰁮 󰁷󰁩󰁥󰁤󰁥󰁲" / 17󰁴󰁨 󰁁󰁮󰁮󰁵󰁡󰁬 󰁇󰁬󰁯󰁢󰁡󰁬 󰁃󰁅󰁏 󰁓󰁵󰁲󰁶󰁥󰁹 2014

6

 

󰁅󰁮󰁴󰁯󰁲󰁮󰁯 󰁤󰁥 󰁬󰁯󰁳 󰁎󰁥󰁧󰁯󰁣󰁩󰁯󰁳

󰁆󰁵󰁥󰁮󰁴󰁥: 󰁨󰁴󰁴󰁰󰁳://󰁷󰁷󰁷.󰁬󰁡󰁲󰁥󰁰󰁵󰁢󰁬󰁩󰁣󰁡.󰁣󰁯/󰁧󰁬󰁯󰁢󰁯󰁥󰁣󰁯󰁮󰁯󰁭󰁩󰁡/󰁡󰁭󰁡󰁺󰁯󰁮󰀭󰁡󰁬󰁰󰁨󰁡󰁢󰁥󰁴󰀭󰁥󰀭󰁩󰁮󰁴󰁥󰁬󰀭󰁳󰁯󰁮󰀭󰁬󰁡󰁳󰀭󰁥󰁭󰁰󰁲󰁥󰁳󰁡󰁳󰀭󰁭󰁡󰁳󰀭 󰁩󰁮󰁮󰁯󰁶󰁡󰁤󰁯󰁲󰁡󰁳󰀭󰁤󰁥󰁬󰀭󰁭󰁵󰁮󰁤󰁯󰀭2602379 󰁨󰁴󰁴󰁰󰁳://󰁴󰁷󰁩󰁴󰁴󰁥󰁲.󰁣󰁯󰁭/󰁡󰁲󰁴󰁥󰁳󰁵󰁰󰁲󰁥󰁭󰁯/󰁳󰁴󰁡󰁴󰁵󰁳/902144108956921857

7

 

󰁆󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁍󰁁󰁎󰁅󰁊󰁏 󰁄󰁅 󰁅󰁆󰁅󰁃󰁔󰁉󰁖󰁏

󰁆󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁥󰁳 󰁥󰁬 󰁡󰁲󰁴󰁥 󰁹 󰁬󰁡 󰁣󰁩󰁥󰁮󰁣󰁩󰁡 󰁤󰁥 󰁡󰁤󰁭󰁩󰁮 󰁤󰁭󰁩󰁮󰁩󰁳 󰁩󰁳󰁴󰁲 󰁴󰁲󰁡󰁡󰁲 󰁤󰁩󰁮󰁥 󰁤󰁩󰁮󰁥󰁲󰁲󰁯. 󰁁󰁲󰁴 󰁁󰁲󰁴󰁥 󰁰󰁯󰁲 󰁰󰁯󰁲󰁱󰁵󰁥 󰁳󰁥 󰁲󰁥󰁱󰁵󰁩 󰁥󰁱󰁵󰁩󰁥󰁲 󰁥󰁲󰁥 󰁥 󰁳󰁥󰁮󰁳󰁩󰁢󰁩󰁬󰁩󰁤󰁡󰁤 󰁹 󰁴󰁡󰁬󰁥󰁮󰁴󰁯. 󰁃󰁩󰁥󰁮󰁣󰁩󰁡 󰁰󰁯󰁲󰁱󰁵󰁥 󰁳󰁥 󰁣󰁵󰁥󰁮󰁴󰁡 󰁣󰁯󰁮 󰁵󰁮 󰁭󰃩󰁴󰁯󰁤󰁯. 󰁌󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁡󰁢󰁡󰁲󰁣󰁡󰁮 󰁬󰁡󰁳 󰁩󰁮󰁳󰁴󰁩󰁴󰁵󰁣󰁩󰁯󰁮󰁥󰁳, 󰁬󰁯󰁳 󰁰󰁲󰁯󰁣󰁥󰁳󰁯󰁳, 󰁭󰁥󰁲󰁣󰁡󰁤󰁯󰁳 󰁥 󰁩󰁮󰁳󰁴󰁲󰁵󰁭󰁥󰁮󰁴󰁯󰁳 󰁱󰁵󰁥 󰁲󰁩󰁧󰁥󰁮 󰁬󰁡 󰁣󰁩󰁲󰁣󰁵󰁬󰁡󰁣󰁩󰃳󰁮 󰁤󰁥󰁬 󰁤󰁩󰁮󰁥󰁲󰁯 󰁥󰁮󰁴󰁲󰁥 󰁬󰁯󰁳 󰁡󰁧󰁥󰁮󰁴󰁥󰁳 󰁥󰁣󰁯󰁮󰃳󰁭󰁩󰁣󰁯󰁳: 󰁰󰁥󰁲󰁳󰁯󰁮󰁡󰁳, 󰁥󰁭󰁰󰁲󰁥󰁳󰁡󰁳 󰁹 󰁧󰁯󰁢󰁩󰁥󰁲󰁮󰁯󰁳.

󰃁󰁲󰁥󰁡󰁳 󰁰󰁲󰁩󰁮󰁣󰁩󰁰󰁡󰁬󰁥󰁳 󰁤󰁥 󰁬󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁁󰁤󰁭󰁩󰁮󰁩󰁳 󰁁󰁤󰁭󰁩󰁮 󰁩󰁳󰁴󰁲 󰁴󰁲󰁡󰁣 󰁡󰁣󰁩󰃳󰁮 󰁩󰃳󰁮 󰁦󰁩 󰁦󰁩󰁮󰁡 󰁮󰁡󰁮󰁣 󰁮󰁣󰁩󰁥 󰁩󰁥󰁲󰁲󰁡: 󰁤󰁩󰁲󰁩 󰁤󰁩󰁲󰁩󰁧󰁥 󰁧󰁥 󰁬󰁯󰁳 󰁡󰁳 󰁡󰁳󰁰󰁥 󰁰󰁥󰁣󰁴 󰁣󰁴󰁯󰁳 󰁯󰁳 󰁦󰁩 󰁦󰁩󰁮󰁡 󰁮󰁡󰁮󰁣 󰁮󰁣󰁩󰁥 󰁩󰁥󰁲󰁲󰁯󰁳 󰁤󰁥 󰁣󰁵󰁡󰁬󰁱󰁵󰁩󰁥󰁲 󰁴󰁩󰁰󰁯 󰁤󰁥 󰁯󰁲󰁧󰁡󰁮󰁩󰁺󰁡󰁣󰁩󰃳󰁮 (󰁰󰃺󰁢󰁬󰁩󰁣󰁡 󰁯 󰁰󰁲󰁩󰁶󰁡󰁤󰁡). 󰁒󰁥󰁡󰁬󰁩󰁺󰁡 󰁒󰁥󰁡󰁬󰁩󰁺󰁡 󰁴󰁡󰁲󰁥󰁡󰁳 󰁤󰁥 󰁰󰁲󰁥󰁳󰁵󰁰󰁵󰁥󰁳󰁴󰁯, 󰁰󰁲󰁯󰁮󰃳󰁳󰁴󰁩󰁣󰁯󰁳 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯󰁳, 󰁯󰁢󰁴󰁥󰁮󰁣󰁩󰃳󰁮 󰁤󰁥 󰁦󰁯󰁮󰁤󰁯󰁳, 󰁡󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁣󰁩󰃳󰁮 󰁤󰁥 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯, 󰁡󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁣󰁩󰃳󰁮 󰁤󰁥 󰁣󰁲󰃩󰁤󰁩󰁴󰁯 󰁹 󰁡󰁮󰃡󰁬󰁩󰁳󰁩󰁳 󰁤󰁥 󰁩󰁮󰁶󰁥󰁲 󰁩 󰁮󰁶󰁥󰁲󰁳󰁩󰁯󰁮󰁥󰁳. 󰁳󰁩󰁯󰁮󰁥󰁳. 8

 

󰁆󰁵󰁮󰁣󰁩󰃳󰁮 󰁡󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁴󰁩󰁶󰁡 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁡

9

 

󰁆󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁣󰁯󰁮 󰁬󰁡 󰁥󰁣󰁯󰁮󰁯󰁭󰃭󰁡 󰁒󰁥󰁬󰁡󰁣󰁩󰃳󰁮 󰁤󰁥 󰁬󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁣󰁯󰁮 󰁬󰁡 󰁥󰁣󰁯󰁮󰁯󰁭󰃭󰁡 󰁅󰁮 󰁬󰁡󰁳 󰁤󰁥󰁣󰁩󰁳󰁩󰁯󰁮󰁥󰁳 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁡󰁳 󰁧󰁥󰁮󰁥󰁲󰁡󰁬󰁭󰁥󰁮󰁴󰁥 󰁳󰁥 󰁵󰁴󰁩󰁬󰁩󰁺󰁡 󰁥󰁬 󰁰󰁲󰁩󰁮󰁣󰁩󰁰󰁩󰁯 󰁥󰁣󰁯󰁮󰃳󰁭󰁩󰁣󰁯 󰁤󰁥 󰁡󰁮󰃡󰁬󰁩󰁳󰁩󰁳 󰁭󰁡󰁲󰁧󰁩󰁮󰁡󰁬; 󰁥󰁳 󰁤󰁥󰁣󰁩󰁲, 󰁳󰃳󰁬󰁯 󰁳󰁥 󰁴󰁯󰁭󰁡󰁮 󰁤󰁥󰁣󰁩󰁳󰁩󰁯󰁮󰁥󰁳 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁡󰁳 󰁣󰁵󰁡󰁮󰁤󰁯 󰁬󰁡󰁳 󰁵󰁴󰁩󰁬󰁩󰁤󰁡󰁤󰁥󰁳 󰁭󰁡󰁲󰁧󰁩󰁮󰁡󰁬󰁥󰁳 󰁥󰁸󰁣󰁥󰁤󰁥󰁮 󰁡 󰁬󰁯󰁳 󰁣󰁯󰁳󰁴󰁯󰁳 󰁭󰁡󰁲󰁧󰁩󰁮󰁡󰁬󰁥󰁳. 󰁐󰁯󰁲 󰁭󰁥󰁤󰁩󰁯 󰁤󰁥󰁬 󰁡󰁮󰃡󰁬󰁩󰁳󰁩󰁳 󰁤󰁥 󰁯󰁦󰁥󰁲󰁴󰁡 󰁹 󰁤󰁥󰁭󰁡󰁮󰁤󰁡, 󰁳󰁩󰁲󰁶󰁥 󰁣󰁯󰁭󰁯 󰁲󰁥󰁦󰁥󰁲󰁥󰁮󰁣󰁩󰁡 󰁰󰁡󰁲󰁡 󰁬󰁡󰁳 󰁴󰁲󰁡󰁮󰁳󰁡󰁣󰁣󰁩󰁯󰁮󰁥󰁳 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁡󰁳 󰁹 󰁤󰁥󰁬 󰁭󰁡󰁮󰁥󰁪󰁯 󰁤󰁥󰁬 󰁤󰁩󰁮󰁥󰁲󰁯. 󰁅󰁬 󰁰󰁲󰁩󰁮󰁣󰁩󰁰󰁩󰁯 󰁢󰃡󰁳󰁩󰁣󰁯 󰁥󰁳 󰁥󰁬 󰁡󰁮󰃡󰁬󰁩󰁳󰁩󰁳 󰁤󰁥 󰁣󰁯󰁳󰁴󰁯󰁳.

10

 

󰁆󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁣󰁯󰁮 󰁬󰁡 󰁣󰁯󰁮󰁴󰁡󰁢󰁩󰁬󰁩󰁤󰁡󰁤 󰁌󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁹 󰁳󰁵 󰁲󰁥󰁬󰁡󰁣󰁩󰃳󰁮 󰁣󰁯󰁮 󰁬󰁡 󰁣󰁯󰁮󰁴󰁡󰁢󰁩󰁬󰁩󰁤󰁡󰁤 󰁥󰁳 󰁰󰁯󰁲󰁱󰁵󰁥 󰁡󰁰󰁯󰁹󰁡 󰁡󰁬 󰁲󰁥󰁧󰁩󰁳󰁴󰁲󰁯 󰁤󰁥 󰁬󰁡󰁳 󰁯󰁰󰁥󰁲󰁡󰁣󰁩󰁯󰁮󰁥󰁳. 󰁌󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁹 󰁬󰁡 󰁣󰁯󰁮󰁴󰁡󰁢󰁩󰁬󰁩󰁤󰁡󰁤 󰁳󰁥 󰁤󰁩󰁦󰁥󰁲󰁥󰁮󰁣󰁩󰁡󰁮 󰁥󰁮 󰁥󰁬 󰁴󰁲󰁡󰁴󰁡󰁭󰁩󰁥󰁮󰁴󰁯 󰁴󰁲󰁡 󰁴󰁡󰁭󰁩󰁥󰁮󰁴󰁯 󰁤󰁥 󰁬󰁯󰁳 󰁦󰁯󰁮󰁤󰁯󰁳 󰁹 󰁥󰁮 󰁬󰁡 󰁴󰁯󰁭󰁡 󰁤󰁥 󰁤󰁥󰁣󰁩󰁳󰁩󰁯󰁮󰁥󰁳. 󰁔󰁲󰁡󰁴󰁡󰁭󰁩󰁥󰁮󰁴󰁯 󰁤󰁥 󰁬󰁯󰁳 󰁦󰁯󰁮󰁤󰁯󰁳: 󰁃󰁯󰁮󰁴󰁡󰁤󰁯󰁲: 󰁲󰁥󰁣󰁯󰁮󰁯󰁣󰁥 󰁬󰁯󰁳 󰁩󰁮󰁧󰁲󰁥󰁳󰁯󰁳/󰁥󰁧󰁲󰁥󰁳󰁯󰁳 󰁤󰁥 󰁦󰁯󰁮󰁤󰁯󰁳 󰁣󰁵󰁡󰁮󰁤󰁯 󰁳󰁥 󰁩󰁮󰁣󰁵󰁲󰁲󰁥 󰁥󰁮 󰁥󰁬󰁬󰁯󰁳. 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡 󰁤󰁯󰁲 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯: 󰁰󰁯󰁮󰁥 󰃩󰁮󰁦󰁡󰁳󰁩󰁳 󰁥󰁮 󰁬󰁯󰁳 󰁦󰁬󰁵󰁪󰁯󰁳 󰁤󰁥 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯(󰁯 󰁤󰁥 󰁣󰁡󰁪󰁡). 󰁕󰁮󰁡 󰁥󰁭󰁰󰁲󰁥󰁳󰁡 󰁰󰁵󰁥󰁤󰁥 󰁳󰁥󰁲 󰁡󰁬󰁴󰁡󰁭󰁥󰁮󰁴󰁥 󰁲󰁥󰁮󰁴󰁡󰁢󰁬󰁥 󰁹 󰁮󰁯 󰁤󰁩󰁳󰁰󰁯󰁮󰁥󰁲 󰁤󰁥 󰁳󰁵󰁦󰁩󰁣󰁩󰁥󰁮󰁴󰁥 󰁳󰁵󰁦󰁩󰁣󰁩 󰁥󰁮󰁴󰁥 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯 󰁰󰁡󰁲 󰁰󰁡󰁲󰁡󰁡 󰁡󰁴󰁥󰁮󰁤󰁥󰁲 󰁳󰁵󰁳 󰁯󰁢󰁬󰁩󰁧󰁡󰁣󰁩󰁯󰁮󰁥󰁳. 11

 

12

󰁇󰁅󰁓󰁔󰁉󰃓󰁎 󰁆󰁉󰁎󰁁󰁎󰁃󰁉󰁅󰁒󰁁 Sesión 02

Objetivo y actividades del Administrador Financiero

 

󰁃󰁯󰁮󰁴󰁥󰁮󰁩󰁤󰁯 •

Objetivo del Administrador Financiero



Actividades del Administrador Financiero

13

 

󰁏󰁢󰁪󰁥󰁴󰁩󰁶󰁯 󰁤󰁥󰁬 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁆󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯 󰁓󰁥 󰁤󰁩󰁳󰁣󰁵󰁴󰁥 󰁣󰁯󰁮 󰁦󰁲󰁥󰁣󰁵󰁥󰁮󰁣󰁩󰁡 󰁳󰁩 󰁥󰁬 󰁯󰁢󰁪󰁥󰁴󰁩󰁶󰁯 󰁤󰁥󰁬 󰁡󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁦󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯 󰁥󰁳 󰁡󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁭󰁡󰁸󰁩󰁭󰁩󰁺󰁡󰁲 󰁬󰁡󰁳 󰁵󰁴󰁩󰁬󰁩󰁤󰁡󰁤󰁥󰁳 󰁯 󰁭󰁡󰁸󰁩󰁭󰁩󰁺󰁡󰁲 󰁬󰁡 󰁲󰁩󰁱󰁵󰁥󰁺󰁡 󰁤󰁥 󰁬󰁯󰁳 󰁡󰁣󰁣󰁩󰁯󰁮󰁩󰁳󰁴󰁡󰁳. 󰁍󰁡󰁸󰁩󰁭󰁩󰁺󰁡󰁲 󰁵󰁴󰁩󰁬󰁩󰁤󰁡󰁤󰁥󰁳 󰁤󰁥 󰁬󰁯󰁳 󰁡󰁣󰁣󰁩󰁯󰁮󰁩󰁳󰁴󰁡󰁳   󰁉󰁧󰁮󰁯󰁲󰁡 󰁥󰁬 󰁡󰁳󰁰󰁥󰁣󰁴󰁯 󰁡󰁳󰁰󰁥󰁣󰁴󰁯 󰁴󰁥󰁭󰁰󰁯󰁲󰁡󰁬 󰁴󰁥󰁭󰁰󰁯󰁲󰁡󰁬 󰁤󰁥 󰁤󰁥 󰁬󰁡󰁳 󰁵󰁴󰁩󰁬󰁩󰁤󰁡󰁤󰁥󰁳.

• •



  󰁌󰁡󰁳 󰁤󰁥 󰁵󰁮󰁡 󰁥󰁭󰁰󰁲󰁥󰁳󰁡 󰁮󰁯 󰁲󰁥󰁰󰁲󰁥󰁳󰁥󰁮󰁴 󰁲󰁥󰁰󰁲󰁥󰁳󰁥󰁮󰁴󰁡󰁮 󰁡󰁮 󰁦󰁬󰁵󰁪󰁯󰁳 󰁤󰁥 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯 󰁰󰁡󰁲󰁡󰁵󰁴󰁩󰁬󰁩󰁤󰁡󰁤󰁥󰁳 󰁬󰁯󰁳 󰁡󰁣󰁣󰁩󰁯󰁮󰁩󰁳󰁴󰁡󰁳. 󰁡󰁣󰁣󰁩󰁯 󰁮󰁩󰁳󰁴󰁡󰁳.   󰁎󰁯 󰁴󰁩󰁥󰁮󰁥 󰁥󰁮 󰁣󰁵󰁥󰁮󰁴󰁡 󰁥󰁬 󰁲󰁩󰁥󰁳󰁧󰁯.

14

 

󰁁󰁣󰁴󰁩󰁶󰁩󰁤󰁡󰁤󰁥󰁳 󰁤󰁥󰁬 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁡󰁤󰁯󰁲 󰁆󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯

󰁍󰁁󰁎󰁅󰁊󰁏 󰁄󰁅 󰁅󰁆󰁅󰁃󰁔󰁉󰁖󰁏

󰁃󰁁󰁐󰁉󰁔󰁁󰁌 󰁄󰁅 󰁔󰁒󰁁󰁂󰁁󰁊󰁏

󰁒󰁉󰁅󰁓󰁇󰁏 󰁙 󰁒󰁅󰁎󰁄󰁉󰁍󰁉󰁅󰁎󰁔󰁏

󰁆󰁌󰁕󰁊󰁏 󰁄󰁅 󰁆󰁏󰁎󰁄󰁏󰁓

󰁉󰁎󰁖󰁅󰁒󰁓󰁉󰃓󰁎 󰁆󰁉󰁎󰁁󰁎󰁃󰁉󰁁󰁍󰁉󰁅󰁎󰁔󰁏

󰁐󰁕󰁎󰁔󰁏 󰁄󰁅 󰁅󰁑󰁕󰁉󰁌󰁉󰁂󰁒󰁉󰁏

15

 

󰁁󰁣󰁴󰁩󰁶󰁩󰁤󰁡󰁤󰁥󰁳 󰁤󰁥󰁬 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁡󰁤󰁯󰁲 󰁆󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯 󰁃󰁁󰁐󰁉󰁔󰁁󰁌 󰁃󰁁󰁐󰁉󰁔 󰁁󰁌 󰁄󰁅 󰁔󰁒󰁁󰁂󰁁󰁊󰁏 󰁔 󰁒󰁁󰁂󰁁󰁊󰁏 󰁓󰁥 󰁤󰁥󰁦󰁩󰁮󰁥 󰁣󰁯󰁭󰁯 󰁣󰁡󰁰󰁩󰁴󰁡󰁬 󰁣󰁯󰁭󰁯 󰁣󰁡󰁰󰁩󰁴󰁡󰁬 󰁤󰁥 󰁴󰁲󰁡󰁢󰁡󰁪󰁯 󰁡 󰁴󰁲󰁡󰁢󰁡󰁪󰁯 󰁡 󰁬󰁡 󰁣󰁡󰁰󰁡󰁣󰁩󰁤󰁡󰁤 󰁤󰁥 󰁵󰁮󰁡 󰁣󰁯󰁭󰁰󰁡󰃱󰃭󰁡 󰁰󰁡󰁲󰁡 󰁬󰁬󰁥󰁶󰁡󰁲 󰁡 󰁣󰁡󰁢󰁯 󰁳󰁵󰁳 󰁡󰁣󰁴󰁩󰁶󰁩󰁤󰁡󰁤󰁥󰁳 󰁮󰁯󰁲󰁭󰁡󰁬󰁩󰁤󰁡󰁤 󰁥󰁮 󰁥󰁬 󰁥󰁬 󰁣󰁯󰁲󰁴󰁯 󰁣󰁯󰁮 󰁰󰁬󰁡󰁺󰁯. 󰁍󰁁󰁎󰁅󰁊󰁏 󰁄󰁅 󰁅󰁆󰁅󰁃󰁔󰁉󰁖󰁏

󰁒󰁉󰁅󰁓󰁇󰁏 󰁙 󰁒󰁅󰁎󰁄󰁉󰁍󰁉󰁅󰁎󰁔󰁏 󰁓󰁥 󰁤󰁥󰁦󰁩󰁮󰁥 󰁡󰁬 󰁲󰁩󰁥󰁳󰁧󰁯 󰁡󰁬 󰁲󰁩󰁥󰁳󰁧󰁯 󰁣󰁯󰁭󰁯  󰁣󰁯󰁭󰁯 󰁬󰁡 󰁰󰁲󰁯󰁢󰁡󰁢󰁩󰁬󰁩󰁤󰁡󰁤 󰁤󰁥 󰁱󰁵󰁥 󰁥󰁬 󰁲󰁥󰁮󰁤󰁩󰁭󰁩󰁥󰁮󰁴󰁯 󰁥󰁬 󰁲󰁥󰁮󰁤󰁩󰁭󰁩󰁥󰁮󰁴󰁯 󰁳󰁥󰁡  󰁳󰁥󰁡 󰁭󰁥󰁮󰁯󰁲 󰁡󰁬 󰁥󰁳󰁰󰁥󰁲󰁡󰁤󰁯. 󰁅󰁮 󰁧󰁥󰁮󰁥󰁲󰁡󰁬, 󰁬󰁡󰁳 󰁩󰁮󰁶󰁥󰁲 󰁩󰁮󰁶󰁥󰁲󰁳󰁩󰁯󰁮󰁥󰁳 󰁳󰁩󰁯󰁮󰁥󰁳 󰁣󰁯󰁮 󰁭󰁡󰁹󰁯󰁲 󰁲󰁥󰁮󰁤󰁩󰁭󰁩󰁥󰁮󰁴󰁯 󰁭󰁡󰁹󰁯󰁲  󰁲󰁥󰁮󰁤󰁩󰁭󰁩󰁥󰁮󰁴󰁯 󰁥󰁳󰁰󰁥󰁲󰁡󰁤󰁯 󰁥󰁳󰁰󰁥󰁲󰁡󰁤󰁯,, 󰁴󰁩󰁥󰁮󰁥󰁮 󰁭󰁡󰁹󰁯󰁲 󰁲󰁩󰁥󰁳󰁧󰁯 󰁭󰁡󰁹󰁯󰁲  󰁲󰁩󰁥󰁳󰁧󰁯 󰁡󰁳󰁯󰁣󰁩󰁡󰁤󰁯.  󰁡󰁳󰁯󰁣󰁩󰁡󰁤󰁯.

󰁆󰁌󰁕󰁊󰁏 󰁄󰁅 󰁆󰁏󰁎󰁄󰁏󰁓 󰁓󰁯󰁮 󰁬󰁯󰁳 󰁦󰁬󰁵󰁪󰁯󰁳 󰁤󰁥 󰁥󰁮󰁴󰁲󰁡󰁤󰁡󰁳 󰁹 󰁳󰁡󰁬󰁩󰁤󰁡󰁳 󰁤󰁥 󰁣󰁡󰁪󰁡 󰁯 󰁥󰁦󰁥󰁣󰁴󰁩󰁶󰁯, 󰁥󰁦󰁥󰁣󰁴󰁩 󰁶󰁯, 󰁥󰁮 󰁵󰁮 󰁰󰁥󰁲󰃭󰁯󰁤󰁯 󰁤󰁡󰁤󰁯. 󰁅󰁬 󰁦󰁬󰁵󰁪󰁯 󰁤󰁥 󰁣󰁡󰁪󰁡 󰁥󰁳 󰁬󰁡 󰁡󰁣󰁵󰁭󰁵󰁬󰁡󰁣󰁩󰃳󰁮 󰁮󰁥󰁴󰁡 󰁤󰁥 󰁡󰁣󰁴󰁩󰁶󰁯󰁳 󰁬󰃭󰁱󰁵󰁩󰁤󰁯󰁳 󰁥󰁮 󰁵󰁮 󰁰󰁥󰁲󰁩󰁯󰁤󰁯 󰁤󰁥󰁴󰁥󰁲󰁭󰁩󰁮󰁡󰁤󰁯 󰁹 󰁰󰁯󰁲 󰁬󰁯 󰁴󰁡󰁮󰁴󰁯, 󰁣󰁯󰁮󰁳󰁴󰁩󰁴󰁵󰁹󰁥 󰁵󰁮 󰁩󰁮󰁤󰁩󰁣󰁡󰁤󰁯󰁲 󰁩󰁭󰁰󰁯󰁲󰁴󰁡󰁮󰁴󰁥 󰁤󰁥 󰁬󰁡 󰁬󰁩󰁱󰁵󰁩󰁤󰁥󰁺 󰁤󰁥 󰁵󰁮󰁡 󰁥󰁭󰁰󰁲󰁥󰁳󰁡. 16

 

󰁁󰁣󰁴󰁩󰁶󰁩󰁤󰁡󰁤󰁥󰁳 󰁤󰁥󰁬 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲 󰁁󰁤󰁭󰁩󰁮󰁩󰁳󰁴󰁲󰁡󰁤󰁯󰁲 󰁡󰁤󰁯󰁲 󰁆󰁩󰁮󰁡󰁮󰁣󰁩󰁥󰁲󰁯 󰁉󰁎󰁖󰁅󰁒󰁓󰁉󰃓󰁎 󰁆󰁉󰁎󰁁󰁎󰁃󰁉󰁁󰁍󰁉󰁅󰁎󰁔󰁏 󰁍󰁁󰁎󰁅󰁊󰁏 󰁄󰁅 󰁅󰁆󰁅󰁃󰁔󰁉󰁖󰁏

󰁓󰁩󰁲󰁶󰁥󰁮 󰁣󰁵󰁢󰁲󰁩󰁲 󰁮󰁥󰁣󰁥󰁳󰁩󰁤󰁡󰁤󰁥󰁳 󰁰󰁡󰁲󰁡 󰃡󰁲󰁥󰁡󰁳 󰁤󰁥󰁰󰁡󰁲󰁡 󰁬󰁡 󰁯󰁲󰁧󰁡󰁮󰁩󰁺󰁡󰁣󰁩󰃳󰁮 󰁯󰁲󰁧󰁡󰁮󰁩󰁺󰁡󰁣󰁩 󰃳󰁮 󰁹 󰁲󰁥󰁱󰁵󰁩󰁥󰁲󰁥 󰁤󰁥󰁬󰁡󰁳 󰁵󰁮󰁡 󰁳󰁥󰁲󰁩󰁥 󰁤󰁥 󰁨󰁥󰁲󰁲󰁡󰁭󰁩󰁥󰁮 󰁨󰁥󰁲󰁲󰁡󰁭󰁩󰁥󰁮󰁴󰁡󰁳 󰁴󰁡󰁳 󰁱󰁵󰁥 󰁬󰁥 󰁰󰁥󰁲󰁭󰁩󰁴󰁡󰁮 󰁰󰁬󰁡󰁮󰁥󰁡󰁲, 󰁭󰁯󰁮󰁩󰁴󰁯󰁲󰁥󰁡󰁲 󰁹 󰁣󰁯󰁮󰁴󰁲󰁯󰁬󰁡󰁲 󰁬󰁯󰁳 󰁲󰁥󰁣󰁵󰁲󰁳󰁯󰁳 󰁭󰁯󰁮󰁥󰁴󰁡󰁲󰁩󰁯󰁳 󰁤󰁥 󰁵󰁮󰁡 󰁯󰁲󰁧󰁡󰁮󰁩󰁺󰁡󰁣󰁩󰃳󰁮.

󰁐󰁕󰁎󰁔󰁏 󰁄󰁅 󰁅󰁑󰁕󰁉󰁌󰁉󰁂󰁒󰁉󰁏 󰁅󰁳 󰁵󰁮 󰁣󰁯󰁮󰁣󰁥󰁰󰁴󰁯 󰁤󰁥 󰁬󰁡󰁳 󰁦󰁩󰁮󰁡󰁮󰁺󰁡󰁳 󰁱󰁵󰁥 󰁨󰁡󰁣󰁥 󰁲󰁥󰁦󰁥󰁲󰁥󰁮󰁣󰁩󰁡 󰁡󰁬 󰁮󰁩󰁶󰁥󰁬 󰁤󰁥 󰁶󰁥󰁮󰁴󰁡󰁳 󰁤󰁯󰁮󰁤󰁥 󰁬󰁯󰁳 󰁣󰁯󰁳󰁴󰁯󰁳 󰁦󰁩󰁪󰁯󰁳 󰁹 󰁶󰁡󰁲󰁩󰁡󰁢󰁬󰁥󰁳 󰁳󰁥 󰁥󰁮󰁣󰁵󰁥󰁮󰁴󰁲󰁡󰁮 󰁥 󰁮󰁣󰁵󰁥󰁮󰁴󰁲󰁡󰁮 󰁣󰁵󰁢󰁩󰁥󰁲󰁴󰁯󰁳.

17

View more...

Comments

Copyright ©2017 KUPDF Inc.
SUPPORT KUPDF