1 Atps Estrutura e Analise Das Demonstraes Financeiras

7/24/2019 1 Atps Estrutura e Analise Das Demonstraes Financeiras

1/16

ESTRUTURA E ANALISE DAS DEMONSTRAES FINANCEIRAS.

So Paulo

2014

SUMRIO

In!o"u#o

Anal$%& 'o!$(onal

Anal$%& )&!$*al

+alan#o Pa!$,on$al "a E,-!&%a ROMI.

Anal$%& "a% -o%%/&$% *au%a% & /a!$a#&%

E%!uu!a L$u$"&( R&na3$l$"a"& & D&-&n"n*$a +an*5!$a

A $,-o!6n*$a "o M7o"o Du-on

Cal*ulo "a !&na3$l$"a"& "o a$/o -&lo ,7o"o Du-on

A-u!a#o "o% $n"$*a"o!&% "& $n%ol/n*$a

Sal"o% *on53&$% &, 819129200:

PMR) ; P!a(o M7"$o "& R&*&3$,&no "a% )&n"a% In"$*a


2/16

1 - Introduo

A An5l$%& "a% D&,on%!a#&% F$nan*&$!a% !an%>o!,a o% "a"o% &, $n>o!,a#&% $nan*&$!a% & o ?o/&!no.

A an5l$%& "a% D&,on%!a#&% F$nan*&$!a% *o,-!&&n"& u, &@a,& "&ala"o "o% "$/&!%o%

*o,-on&n&% *on&*$"o% *o,o *ona% >a(&n"o u, *o,-a!a$/o &n!& %$ ou &, !&la#o a

ou!o% $n&?!an&% *o,o u, o"o.

U,a an5l$%& -a!a %&! ,a$% &>$*$&n& "&/& %& 3a%&a! &, ,a$% "& u, &@&!**$o %o*$al 7

!&*o,&n"5/&l a *o,-a!a#o "& no ,n$,o !% &@&!**$o% %o*$a$% -a!a o3%&!/a! a &n"n*$a

"o% $n"$*a"o!&%.

O -!&%&n& &%u"o &, *o,o >$nal$"a"& anal$%a! a% "&,on%!a#&% >$nan*&$!a% "a In"u%!$a%

ROMI S.A. -u3l$*a"a% *o,-a!an"o 3alan#o "& 200B & 200:.

E%& "&%a>$o "&"$*a;%& a &la3o!a! & $n&!-!&a! o% n"$*&% >$nan*&$!o% -!o-o%o% anal$%an"o a%

*ona% & &n/ol/&n"o o% ,7o"o% "& *5l*ulo u& *on%$%& &, !&la*$ona! a% *ona% "o 3alan#o

anal$%an"o o "&%&,-&no &*on,$*o;>$nan*&$!o "a &,-!&%a.

I Anlise Horizontal

D&,on%!a a &/olu#o "a% *ona% -a!$,on$a$% & "& !&%ula"o "&n!o "& u,a %7!$& "&

&@&!**$o%.

A!a/7% "&%a 7*n$*a 7 -o%%/&l a/al$a! & a*o,-ana! a &/olu#o "a% R&*&$a% & "a% D&%-&%a%

3&, *o,o "o% $n/&%$,&no% !&al$(a"o%.

II Anlise Vertical

P&!,$& "&&!,$na! a -a!$*$-a#o !&la$/a "& *a"a *ona no ?!u-o oal. A an5l$%& /&!$*al

"&,on%!a a &%!uu!a &*on,$*o;>$nan*&$!a "a &,-!&%a.


3/16

Balano atri!onial da e!"resa Ro!i#

EMPRESA ; ROMI

+alan#oPa!$,on$al;200B9200:

819129200: 819129200B 819129200: 819129200B

An5l$%&'o!$(ona

l

Con!ola"o!

aCon!ola"o!

aCon%ol$"a"

oCon%ol$"a"

o

A$/o C$!*ulan&

Ca$@a 10.1 G0 1B0.GG 12B 18.224 :18 1:.010 140 ;2:4G

Tulo% Man$"o% -a!a N&?o*$a#o 8B.82 28: 10.2B0 B: 8.B21 828 111.12 :81 ;1:2

Du-l$*aa% H R&*&3&! B.GB 8G2 B.G8 482 BB.4G8 4GG G2.::: 4G 281:)alo!&% a !&*&3&! ; R&-a%%& F$na,&>a3!$*an& 80G.:2 12 228.221 1GB2 80G.:2 1:4 228.221 1GG4 8B4:

Pa!&% R&la*$ona"a% 24.214 12 1.10B 148 0 000 0 000

E%ou& 28:.04 144 1G.4B 12B0 2:.844 1B1G 1:8.044 18G4 :

I,-o%o & Con!$3u$#o H R&*u-&!a! 1.0: 0 11.11: 0:8 1B.B42 10B 11.8B 0:G 8B:I,-o%o "& R&n"a & Con!$3u$#oSo*$al D$>&!$"o% 8.248 020 2.14 01G 8.248 020 2.14 01G 01

Ou!o% C!7"$o% 2.::4 01: 8.84: 02 B.24B 044 8.4B 02G 10:81

Toal C$!*ulan& B.:: 48 BG2.0G4 B10 ::G.:BG 888 B:G.:40 :G4 12B1

No C$!*ulan&

R&al$(a/7l a lon?o P!a(o

Du-l$*aa% H R&*&3&! 1.0: 00B 1.14 00 1.G:G 010 1.14 00 4GB4

)alo!&% H R&*&3&! R&-a%%& F$na,& 4B.8B1 800: 40.:G 80B1 4B.8B1 2::8 40.:G 80 1G

Pa!&% R&la*$ona"a% 12.4BG 0B: 0 000 0 000 0 000

I,-o%o & Con!$3u$#o H R&*u-&!a! 14.1G4 0: .81 040 1:.24 110 .81 040 28:48I,-o%o "& R&n"a & Con!$3u$#oSo*$al D$>&!$"o% .4:: 0G0 .:GB 044 .4:: 0B .:GB 044 G1B2

Ou!o% C!7"$o% .102 082 2.2: 022 .40 088 2.2: 022 :4G0In/. &, *on!ola"a% $n*lu$n"o 5?$o &"&%5?$o 8.8:4 24B 24.1 1:B 0 000 0 000

Ou!o% $n/&%$,&no% :4 00G :4 00B 8.1G8 01 1.8 014 G84G

I,o3$l$(a"o lu$"o 22.824 148 121.00 10 22.1B1 11G 12B.B81 2 B42

Inan?/&l G.B4 041 0 000 G.B4 040 0 000

Toal No C$!*ulan& BB.G 00B B2.G80 420 BBG.108 4GGB 4.:B 418G 8:G


4/16

Toal "o A$/o 1.8.:4 10000 1.884.G4 10000 1.GG2.B 10000 1.841.B8B 10000 182

EMPRESA ; ROMI

+alan#o Pa!$,on$al;200B9200:

819129200: 819129200B 819129200: 819129200B

An5l$%&'o!$(ona

l

Con!ola"o!

aCon!ola"o!

aCon%ol$"a"

oCon%ol$"a"

o

Pa%%$/o E Pa!$,n$o Lu$"o

C$!*ulan&

F$nan*$a,&no% 21.11 188 2.4 221 2G.8B 1 2.4: 220 ;10

F$nan*$a,&no% ; F$na,& >a3!$*an& 2B0.02: 1G4 12.::4 144 2B0.02: 1G24 12.::4 148: 4000

Fo!n&*&"o!&% 21.21: 188 24.B 1:G 81.18G 1:B 2.18 1:: 28

Sal5!$o% & &n*a!?o% %o*$a$% 82.04 201 8.2B 2G 88.:4 204 8.84 2G: ;:1

I,-o%o% & *on!$3u$#&% a !&*ol&! .821 088 B.00 0G B.8B 044 :.018 0G0 ;:1

A"$ana,&no% "& *l$&n&% 12.:18 0:0 .B02 0B8 14.0:2 0: .B02 0B2 41D$/$"&n"o% & u!o% %o3!& o *a-$al-!=-!$o 11.2 0B2 2.284 01B 11.BBB 0B1 2.8B 01: 8:B

Pa!$*$-a#&% a -a?a! 4.00 02: 4.400 088 4.00 02B 4.400 088 22B

Ou!a% *ona% a -a?a! 4.8B 081 4.2G2 082 1.044 00 4.24 084 2824

P!o/$%o -a!a -a%%$/o "&%*o3&!o ;*on!. G14 004 0 000 0 000 0 000

Pa!&% !&la*$ona"a% 1.8B 00 4 004 0 000 0 000

Toal "o C$!*ulan& 8:.8G 241 811.B12 288 414.144 240 812.28 282 822

NJO CIRCULANTE 0 0 0 0

E@$?/&l a lon?o -!a(oK 0 0 0 0

F$nan*$a,&no% GB.8 0 4.144 0 G:.48 0 4.80G 0 8:8

F$nan*$a,&no% ; F$na,& >a3!$*an& 48.828 2:44 84:.B10 2G18 48.828 2B2G 84:.B10 2 8000

I,-o%o% & *on!$3u$#&% a !&*ol&! 8.B: 022 1.:G 014 8.B: 022 1.:G 014 ::B1

P!o/$%o -a!a -a%%$/o% &/&nua$% 2.0B8 018 1.G 012 2.0B8 012 1.G 012 24

Ou!a% *ona% a -a?a! 2.1G2 014 0 000 .G2G 0: 0 000

D&%5?$o &, *on!ola"a% 0 000 0 000 2.18 1BB 4.1 081 G02:G

Toal "o no *$!*ulan& 2.0B 881 401.40 800B GB.0G 8410 40.BB0 8024 8B

Pa!$*$-a#o M$no5!$a 0 000 0 000 2.8G 01 1.:B1 014 84

Pa!$,n$o Lu$"o 000 000 000 000

Ca-$al %o*$al 4:.B8 80B4 4:.B8 8GB1 4:.B8 24G 4:.B8 8G2 000

R&%&!/a "& *a-$al 2.02 018 2.02 01 2.02 012 2.02 01 000Au%&% "& a/al$a#o -a!$,on$al 84 002 G: 00B 84 002 ;G: ;00B ;18G0

R&%&!/a "& lu*!o% 1:B.GB 11BB 180.1G B: 1:B.GB 112: 180.1G B8 48B1


5/16

GB.248 42G2 G21.B8 4GB GB.248 40:4 G28.444 4G4B :

TOTAL DO PASSI)O E DO PATR.LUIDO 1.8.:4 10000 1.884.G4 10000 1.GG2.B : 1.841.B8B 10000 284

Analises das "oss$%eis causas e %aria&es

Na /&n"a% o3%&!/a;%& u& a R&*&$a O-&!a*$onal Lu$"a *on%ol$"a"a a-!&%&nou u,

*!&%*$,&no "& 101 &, *o,-a!a#o a 200B. E%& *!&%*$,&no "&/&;%& ao "&%&,-&no

?&!al "& %ua% o-&!a#&% & -&lo "&%&,-&no -o%$$/o "a a$/$"a"& $n"u%!$al no +!a%$l no% no/&

-!$,&$!o% ,&%&% "& 200:.

No% *u%o% "o% -!o"uo% /&n"$"o% A an5l$%& o!$(onal >&$a no ano "& 200B o *u%o "o%

-!o"uo% /&n"$"o% a-!&%&nou u, /alo! "& R 8.0800 &n"o u, Na% Cona% Pa!$,on$a$%

uano ao% u!o% %o3!& o Ca-$al P!=-!$o *!&"$a"o% ao% a*$on$%a% ao lon?o "& 200: lu$"o%

"& IRRF & $,-u5/&$% ao% "$/$"&n"o% ,n$,o% o3!$?a=!$o% "o &@&!**$o %o*$al "& 200:

>o!a, "& R 8 ,$l&% & *o!!&%-on"& a 814 "o lu*!o lu$"o "o &@&!**$o. Ao

o3%&!/a!,o% o *$!*ulan& "& 200B -a!a 200: a *ona Ou!o% C!7"$o% au,&nou -a!a

10:81 & a &/& ,&no! !&l&/6n*$a >o$ a "& Tulo% Man$"o% -a!a N&?o*$a#o *o, !&"u#o"& 1:2. O A$/o no *$!*ulan& a-!&%&nou a *ona I,-o%o% & *on!$3u$#&% a !&*u-&!a! o

"& ,a$o! -&!*&nual *o, 28:48 & o ,&no! >o$ o "& )alo!&% a !&*&3&!;!&-a%%& F$na,&

>a3!$*an& *o, 1G "& au,&no No Pa%%$/o *$!*ulan& o au,&no "& 8:B na *ona

D$/$"&n"a & u!o% %o3!& o *a-$al -!=-!$o >o!a, o ,a$o! & o ,&no! na *ona F$nan*$a,&no

*o, !&"u#o "& 10. No Pa%%$/o no *$!*ulan& o D&%5?$o &, *on!ola"a% &/& u, %alo

"& G02:G & a P!o/$%o -a!a -a%%$/o% &/&nua$% u, au,&no "& 24. No Pa!$,n$o

Lu$"o *o, 48B1 a R&%&!/a "& lu*!o% >o$ a ,a$% ala & a ,&no! >o$ o% Au%&% "&a/al$a#o -a!$,on$al *o, u,a !&"u#o "& G8.

'strutura()i*uidez(Renta+ilidade e ,e"endncia Bancria

aINDICE Q INDICE Q FORMULA Q INTERPRETAJO 200: 9200B

E%!uu!a "& *a-$al Q Pa!$*$-a#o "& *a-$a$% "& &!*&$!o% Q Ca-$a$% &!*&$!o% 9 -a%%$/o oal

@100 Q :1.20091GG2.B 100 Q B1:.2891841.B8B 100 8 QQ Co,-o%$#o "& &n"$/$"a,&no Q PC9*a-$a$% &!*&$!o% @ 100 Q 414.1449:1.200 @ 100 42 Q


6/16

812.289B1:.28 @ 100 48 Q

Q I,o3$l$(a#o "o PL Q AP9PL @ 100 Q 2G1.0:91GG2.B @ 100 1 Q 80.:B291841.B8B @

100 2G Q

Q I,o3$l$(a#o "o% !&*u!%o% no *o!!&n&% Q AP9PLELP @ 100 Q 2G1.0:92.280.08 @ 100

11B Q 80.:B291.B4B.0B @ 100 20 Q

L$u$"&( Q L$u$"&( ?&!al Q ACRLP9PCELP ::G.:BG14.19414.144GB.0G142 Q

B:G.:4042.2819812.2840.BB0 01G L$u$"&( Co!!&n& Q AC9PC Q

::G.:BG9414.144214 Q B:G.:409812.2821 Q

Q L$u$"&( %&*a Q AC ; &%ou&%9PC Q ::G.:BG 2:.844 9414.144 14 Q B:G.:40 1:8.044 9

812.28 18

R&na3$l$"a"& Q V$!o "o a$/o Q )&n"a% l$u$"a%9a$/o oal Q GG.12491.GG2.B 041 QG81.::91.841.B8B 04B Q

Q Ma!?&, l$u$"a Q Lu*!o l$9/&n"a% l$ @ 100 Q 112.89GG.124 @ 100 1G22 Q

124.219G81.:: @ 100 1GG Q

Q R&na3$l$"a"& "o a$/o Q Lu*!o l$9A$/o Toal @100 Q 112.891.GG2B @ 100 GB Q

124.219184.B8B

@ 100 2G Q

Q R&na3$l$"a"& "o PL Q Lu*!o L$9PL M&"$o @ 100 Q 112.89G0.40: @ 100 1B Q

3 S&?un"o S&-&n Wan$( a*!&"$a;%& u& a% &,-!&%a o37, u, lu*!o "& 0 no ,n$,o

-o!7, &%a no 7 a !&al$"a"& "& ,u$a% &,-!&%a% a7 ,&%,o a% *on%$"&!a"a% ?!an"&%. Co,

u, *u%o "& -!o"uo alo u& &n/ol/& ,o;"&;o3!a ,a7!$a -!$,a >o!n&*&"o!&% &

-!$n*$-al,&n& I,-o%o% u& no +!a%$l 7 !&*ol$"o &, ,&"$a 2 "a !&n"a "& u,a &,-!&%a.

En&n"&,o% u& 28 -o"&, %&! ,u$o &,3u$"o% no -!o "o -!o"uo ,a% -ou*o &, /$%a

"o u& 7 $n/&%$"o.

Anal$%an"o a !&na3$l$"a"& "o% &@&!**$o% 200:9200B /&,o% u& no -a%%a 1B.

L$u$"&( V&!al

Pa!a *a"a 100 "& O3!$?a#&% Toa$% a &,-!&%a *ona *o, 142 &, 200: & 01G &, 200B -a!a

!&*u!%o% oa$%.

L$u$"&( Co!!&n&.

Pa!a *a"a 100 "& o3!$?a#&% &, *u!o -!a(o a &,-!&%a *ona *o, 214 &, 200: & 21 &,

200B &, !&*u!%o% u& %& !an%>o!,a!o &, "$n&$!o &, *u!o -!a(o.


7/16

L$u$"&( S&*a

Pa!a *a"a 100 &, o3!$?a#&% a &,-!&%a *ona *o, 14 &, 200: & 18 &, 200B -a!a

*u,-!$! o% *o,-!o,$%%o% "& *u!o -!a(o.

A *o,-o%$#o "& &n"$/$"a,&no *&?a a ua%& 4 & a% $,o3$l$(a#&% a ua%& 80 -!o"uo

-a!a"o %&, lu*!a$/$"a"& &9ou !&o!no $,&"$ao. No *a%o "o% $,o3$l$(a"o% a &,-!&%a *ona

*o, 40 -a!a !&o!no% lu$"o% ,u$o -ou*o -a!a u,a &,-!&%a. Mu$a% &,-!&%a% a*a3a,

>&*an"o -o! >ala "& $n>o!,a#o a*!&"$a, u& &!o u, lu*!o 3&, ,a$o!.

A i!"ort.ncia do M/todo ,u"ont

O M7o"o Du-on &, %$"o -o! ,u$o% ano% u%a"o -&lo% a",$n$%!a"o!&% >$nan*&$!o% *o,o

u,a &%!uu!a -a!a anal$%a! a% "&,on%!a#&% >$nan*&$!a% & a/al$a! a %$ua#o >$nan*&$!a "a

&,-!&%a. O M7o"o Du-on >un"& a DRE & o +P &, "ua% ,&"$"a%;%n&%&% "a lu*!a$/$"a"&K

a a@a "& !&o!no %o3!& o a$/o oal ROA & a a@a "& !&o!no %o3!& o -a!$,n$o lu$"o ROE.

In$*$al,&n& o M7o"o Du-on !&$*an"o %&u% !&%ula"o% &,o%K

ROA Xlu*!o% lu$"o% "&-o$% "o IR 9 /&n"a% @ X/&n"a% 9 a$/o oal lu*!o lu$"o "&-o$%

"o IR 9 a$/o oal

A >=!,ula "o M7o"o Du-on -&!,$& H &,-!&%a "&*o,-o! %&u !&o!no &, "o$% *o,-on&n&%K

Lu*!o %o3!& /&n"a% & &>$*$n*$a no u%o "o% a$/o%. No!,al,&n& u,a &,-!&%a *o, 3a$@a

,a!?&, lu$"a &, u, alo ?$!o "o a$/o oal o u& !&%ula &, !&o!no% !a(oa/&l,&n& 3on%

%o3!& o a$/o oal. O ,&%,o *o%u,a o*o!!&! *o, a %$ua#o $n/&!%a.

A >=!,ula ,o"$>$*a"a "o M7o"o Du-on !&la*$ona a a@a "& !&o!no %o3!& o a$/o oal ROA

H a@a "& !&o!no %o3!& o -a!$,n$o lu$"o ROE. E%%a


8/16

ROA -&lo MAF ,ul$-l$*a"o! "& ala/an*a?&, >$nan*&$!a. O MAF 7 "a"o -&la !a(o a$/o

oal -&lo -a!$,n$o lu$"oK

ROE ROA MAF

Su3%$u$n"o o% *o!!&%-on"&n&% &!,o% na &ua#o & %$,-l$>$*an"o %&u% !&%ula"o% na

>=!,ula "a"a an&!$o!,&n& &,o%K

ROE Xlu*!o lu$"o "&-o$% "o I R 9 a$/o oal @ Xa$/o oal 9 -a!$,n$o lu$"o lu*!o

lu$"o "&-o$% "o I R 9 -a!$,n$o lu$"o


9/16

200BK

Pa%%$/o O-&!a*$onal B.81

Pa%%$/o >$nan*&$!o G20.8:

Pa!$,n$o G28.4:

200:K

Pa%%$/o O-&!a*$onal 18.20

Pa%%$/o F$nan*&$!o :1:.GG

Pa!$,n$o G1.020

F=!,ulaK

A$/o Lu$"o A$/o Toal Pa%%$/o O-&!a*$onal

200BK A$/o Lu$"o 1.841.B8B B.81 1.244.84G

200:K A$/o Lu$"o 1.GG2.B 18.20 1.0.G:

F=!,ulaK

V$!oK )&n"a% Lu$"a% A$/o Lu$"o

200BK BG1.1G 0G1

1.244.84G

200:K :8G.G2 0

1.0.G:

F=!,ulaK

Ma!?&,K Lu*!o Lu$"o

)&n"a% Lu$"a%

200BK 124.21 01G X @ 100 1G82

B:1.1G

200:K 118.:8 014 X @ 100 180

:8G.G2


10/16

F=!,ulaK

R&na3$l$"a"& "o A$/o X M7o"o Du-on X V$!o @ Ma!?&,

200BK 0G1 @ 01G 010 X @ 100 10

200:K 0 @ 014 00: X @ 100 :

Mo"&lo S&-&n Wan$(

E%*ala -a!a ,&"$! a -o%%$3$l$"a"& "& $n%ol/n*$a

F=!,ulaK Lu*!o Lu$"o @ 00 Pa!$,n$o Lu$"o

200BK 124.21 00 001

G21.B8

200:K 112.8 01GG22 @ 00 001

GB.248

F=!,ula 2K A$/o C$!*ulan& ANC @ 1G

Pa%%$/o C$!*ulan& PNC

200BK B:G.:40 4.:B 1.841.B8B 1:B @ 1G 80:

812.28 40.BB0 B1:.28

200:K ::G.GBG BBG.108 1.GG2.B 1.G @ 1G 2:0

414.144 GB.0G :1.200

F=!,ula 8K A$/o C$!*ulan& E%ou&% @ 8

Pa%%$/o C$!*ulan&

200BK B:G.:40 1:8.044 G08.BG 1.82.00 @ 8 G:G

812.28 812.28


11/16

200:K ::G.:BG 2:.884 G01.82 1.424B0 @ 8 1G

414.144 414.144

F=!,ula 4K A$/o C$!*ulan& @ 10G

Pa%%$/o C$!*ulan&

200BK B:G.:40 2.1B.B02 @ 1.0G 2GB

812.28

200:K ::G.:BG 2.141.4GB @ 10G 22B 414.144

F=!,ula K E@$?/&l Toal @ 088

Pa!$,n$o Lu$"o

200BK 812.28 40.BB0 B1:.28 1.1.G0 @ 088 08:

G21.B8 G21.B8

200:K 414.144 GB.0G :1.200 1.444.4 @ 088 04:

GB.248 GB.248

A"urao dos indicadores de insol%ncia


12/16

U$l$(an"o a >=!,ula *o!!&%-on"&n& -o"&,o% /&!$>$*a! u&K

No ano "& 200BK

001 80: G:G 2GB 08: G

A &,-!&%a %& &n*on!a &, &%a"o "& %ol/n*$a.

No ano "& 200:K

001 2:0 1G 22B 04: 22

A &,-!&%a %& &n*on!a &, &%a"o "& %ol/n*$a.

Saldos cont+eis e! 01122334

NCV N&*&%%$"a"& "& Ca-$al Lu$"o

In"


13/16

PMRE ; P!a(o M7"$o "& Roa#o "o% E%ou&%

In"


14/16

Relat8rio

D& a*o!"o *o, a an5l$%& "o% n"$*&% &*on,$*o% & >$nan*&$!o% "a In"o!,a#&%K

A -a!$*$-a#o "& Ca-$a$% "& T&!*&$!o% &, 200: >o$ "&K 1G.No n"$*& "& L$u$"&( V&!al -a!a o ano >o$ "& 142 -a!a *a"a 100.

O V!au "& I,o3$l$(a#o "o Pa!$,n$o Lu$"o ,o%!a u& &, 200: a &,-!&%a $n/&%$uK

8G.

O n"$*& "a Ma!?&, Lu$"a ,o%!a u& &, 200: >o$ "& 1G28.

O -&!*&nual a-u!a"o na R&na3$l$"a"& "o Pa!$,n$o Lu$"o $n"$*a u& a &,-!&%a &, 200:

!&,un&!ou o *a-$al $n/&%$"o -&lo% %=*$o% &, 1B8B.

5 o% n"$*&% "& F$nan*$a,&no "o A$/o "&,on%!a, u&, &, 200: a -a!$*$-a#o "a%$n%$u$#&% "& *!7"$o no >$nan*$a,&no "o A$/o !&-!&%&nouK 428.


15/16

A !&%-&$o "a An5l$%& )&!$*al "o A$/o -a%%$/o "a DRE -o"&,o% /&!$>$*a! u& o A$/o

C$!*ulan& au,&nou 12B1 o u& !&-!&%&na 888 "o oal "o A$/o.

Con%aa,o% u& a Ma!?&, "& Lu*!o L$u$"o "o E@&!**$o "$,$nu$u &, 0B o*a%$ona"a

-!$n*$-al,&n& *o, a% -&!*a% *o, a /a!$a#o *a,3$al &, %&?u$"a -&lo au,&no "a% "&%-&%a%

a",$n$%!a$/a%.

E, !&la#o ao Pa%%$/o o *$!*ulan& au,&nou 82 a*!&%*$"o &, -a!$*ula! -o!

>$nan*$a,&no F$na,& >a3!$*an& & &, %&?u$"a -o! D$/$"&n"o% & u!o% %o3!& *a-$al -!=-!$o.

Con*lu,o% u& a &,-!&%a In"$nan*&$!a

a-!&%&na"o &n!& o% "o$% -&!o"o% anal$%a"o% u,a =$,a &/olu#o &n"o $"o o%

$n/&%$,&no% !&al$(a"o% -&%a"o% %o3!& %&u &n"$/$"a,&no & a$/o *$!*ulan& -o!7, no

a>&a!a, %ua l$u$"&( & >o!a, n&*&%%5!$o% -a!a ala/an*a!&, na &@-an%o "& no/o% ,&!*a"o% &no/o% *l$&n&%.

6oncluso

A-!&n"&,o% na -!5$*a a l&! & $n&!-!&a! a% $n>o!,a#&% *on53&$% -u3l$*a"a% -&la% &,-!&%a%

&, &%-&*$a$% a% S9A a!a/7% "& %&u +alan#o Pa!$,on$al & %ua D&,on%!a#o "o R&%ula"o "o

E@&!**$o >a(&n"o u, *o,-a!a$/o &, 2 &@&!**$o% & a &la3o!a! %ua An5l$%& )&!$*al &

'o!$(onal "& %&u +P & %ua DRE a *al*ula! %&u% n"$*&% "&K &%!uu!a l$u$"&( !&na3$l$"a"&

"&-&n"n*$a 3an*5!$a a-!&n"&,o% a $,-o!6n*$a "o ,7o"o DUPONT & *al*ula,o% o ?!au

"& %ol/n*$a9$n%ol/n*$a "a &,-!&%a *on*lu$n"o *o, a /&!$>$*a#o "o% -!a(o% ,7"$o% "a

&,-!&%a & %&u *$*lo o-&!a*$onal & >$nan*&$!o.

Tu"o $%%o %& >&( n&*&%%5!$o -a!a u& -u"7%%&,o% &la3o!a! u, !&la=!$o u& "&,on%!a%%& a

!&al$"a"& &*on,$*a & >$nan*&$!a "a &,-!&%a "& &@!&,a $,-o!6n*$a -a!a a &,-!&%a %&u%

*l$&n&% >o!n&*&"o!&% & %o*$&"a"& &, ?&!al -o$% a!a/7% "&%%& !&%u,o 7 -o%%/&l o,a!

"&*$%&% *o,-!&&n"&! ,&lo!& a% ,o"$>$*a#&% o*o!!$"a% & >a(&! ,&lo!$a% -a!a u& %&

*on%$?a %&,-!& ,&lo!a! no %= %&u !&%ula"o ,a% o!na! a &,-!&%a ,a$% &>$*$&n&.


16/16

Re9erencias Bi+lio:r9icas

A[E)EDO Ma!*&lo Ca!"o%o "&. E%!uu!a & An5l$%& "a% D&,on%!a#&% F$nan*&$!a%. PLT n\. 4G.

-K99%a!&.un$anan?u&!a.&"u.3!9$n"&@.--9anu"o9a!$*l&9/$&]A!$*l&9B0^. ; a*&%%o &,K 2B

ou. 2011.

-K99]]]._an$(.*o,9/&a9lu*!o.a%-^ ; A*&%%o &,K 2B ou. 2011.

-K99%a!&.un$anan?u&!a.&"u.3!9$n"&@.--9anu"o9a!$*l&9/$&]A!$*l&9B0^ ; a*&%%o &,K 2Bou. 2011.

1 Atps Estrutura e Analise Das Demonstraes Financeiras

Documents

Transcript of 1 Atps Estrutura e Analise Das Demonstraes Financeiras