&DUQH
7HPSKRUQR
7HPSLQWHUQD
&DUQH
$VDGRGHFRVWLOOD
DOEV>DNJ@
-XJRVD
)&
)&
GHUHV
&RQ\VLQKXHVR
$SXQWR
)&
)&
6RORPLOORGHFDUQHGHUHV
-XJRVD
)&
)&
DOEV>DNJ@
6RORPLOORGHFDUQHGHUHV
-XJRVD
)&
)&
DOEV>DNJ@
&HUGR
&RQKXHVRVLQKXHVR
DOEV>DNJ@
)&
)&
&RUGHUR
&RQKXHVR
DOEV>DNJ@
$SXQWR
)&
)&
6LQKXHVR
DOEV>DNJ@
$SXQWR
)&
)&
&DUQH
3ROORHQWHUR
DOEV>DNJ@
)&
)&
GHDYH
3DYRHQWHUR
6LQUHOOHQR
DOEV>DNJ@
)&
²)²&
6LQUHOOHQR
DOEV>DNJ@
)&
²)²&
3HFKXJDGHSDYR
DOEV>DNJ@
)&
)&
/DVDYHVUHOOHQDVJHQHUDOPHQWHUHTXLHUHQ²PLQXWRVGHWLHPSRDGLFLRQDOHVGHURVWL]DGR&XEUDODVSDWDV
\ODSHFKXJDFRQSDSHOPHWiOLFRSDUDHYLWDUTXHODFDUQHVHRVFXUH]FDGHPDVLDGRRVHVHTXH
&yPRFRQILJXUDUHOKRUQRSDUDURVWL]DGRSRUFRQYHFFLyQFXDQGR
VHXVDODVRQGD
3DUDHYLWDUTXHPDGXUDVQRGHVHQFKXIHODVRQGD
GHODERFDGHVDOLGDGHOKRUQRKDVWDTXHpVWHVH
KD\DHQIULDGR
&RORTXHODEDQGHMDGHOKRUQRHQODSRVLFLyQ
TXHFHQWUDORVDOLPHQWRVHQWUHODSDUWH
VXSHULRUHLQIHULRUGHOKRUQR,QWURGX]FDOD
VRQGDHQODFDUQH$VHJ~UHVHGHTXHKD\D
HQWUDGRSRUFRPSOHWR
(QFKXIHODVRQGDGHQWURGHODERFDGHVDOLGD
GHOKRUQR9HULILTXHTXHHVWpLQWURGXFLGD
KDVWDHOIRQGR&LHUUHODSXHUWDGHOKRUQR
3UHVLRQHHOERWyQ
352%(
VRQGD
3UHVLRQHODVDOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUODWHPSHUDWXUDLQWHUQDGHVHDGD
GHODFDUQH
127$
/DWHPSHUDWXUDLQWHUQDPi[LPDDODTXH
SXHGHQFRQILJXUDUVHORVDOLPHQWRVHV)&
3UHVLRQHHOERWyQ
&219(&7,21&22.
FRFFLyQSRUFRQYHFFLyQ
3UHVLRQHODVDOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUODWHPSHUDWXUDGHVHDGDGHO
KRUQR
/DSDQWDOODGHVWHOODUi
352%(
VRQGD\HOFRQWURO
GHOKRUQRLQGLFDUiVLODVRQGDVHHQFXHQWUD
HQFKXIDGDGHQWURGHODERFDGHVDOLGD\VLXVWHG
QRKDFRQILJXUDGRXQDWHPSHUDWXUDGHVRQGD\
SUHVLRQDGRHOERWyQ
67$57
LQLFLDU
3UHVLRQHHOERWyQ
67$57
LQLFLDU
&XDQGRHOKRUQRFRPLHQ]DDFDOHQWDUODSDODEUD
/2EDMDDSDUHFHUiHQODSDQWDOOD
'HVSXpVGHTXHODWHPSHUDWXUDLQWHUQDGHODFDUQH
DOFDQFHORV)&ODWHPSHUDWXUDLQWHUQD
FDPELDQWHSRGUiYHUVHHQODSDQWDOOD
&XDQGRODWHPSHUDWXUDLQWHUQDGHODFDUQH
DOFDQ]DODFLIUDTXHXVWHGKDFRQILJXUDGROD
VRQGD\HOKRUQRVHDSDJDQ\ORVFRQWUROHV
GHOKRUQRGHVWHOODQ3DUDGHWHQHUHOGHVWHOOR
SUHVLRQHHOERWyQ&/($52))ERUUDU
DSDJDGR8WLOLFHJXDQWHVGHFRFLQDSDUD
TXLWDUODVRQGDGHORVDOLPHQWRV1RXWLOLFH
SLQ]DVSDUDTXLWDUODSRUTXHSRGUtDQGDxDUOD
127$
6LODVRQGDVHTXLWDGHOKRUQRPLHQWUDV
VHHVWDEDFRFLQDQGRHOKRUQRQRVHDSDJDUi
DXWRPiWLFDPHQWH
127$6
0LHQWUDVFRFLQHFRQHVWDFDUDFWHUtVWLFDVH
HVFXFKDUiXQYHQWLODGRU(OYHQWLODGRUVH
GHWHQGUiFXDQGRVHDEUDODSXHUWDSHURHOFDORU
QRVHDSDJDUi
3XHGHXVDUVHHOWHPSRUL]DGRUGHODFRFLQD
DXQTXHQRSXHGHQXWLOL]DUVHODVRSHUDFLRQHVGH
KRUQRFRQWHPSRUL]DGRU
1XQFDGHMHODVRQGDGHQWURGHOKRUQRGXUDQWH
XQFLFORGHDXWROLPSLH]D
1RJXDUGHODVRQGDGHQWURGHOKRUQR
/DVRQGDQRGHEHXWLOL]DUVHHQODVIXQFLRQHVGH
DVDGR\GHDXWROLPSLH]D
(OYHQWLODGRUVyORJLUDHQXQDGLUHFFLyQ
3DUDPHMRUHVUHVXOWDGRVFXDQGR
URVWLFHSDYRV\DVDGRVJUDQGHV
UHFRPHQGDPRVHOXVRGHODVRQGD
LQFOXLGDHQHOKRUQRGHFRQYHFFLyQ
3DUDFDPELDUODWHPSHUDWXUDGHO
KRUQRGXUDQWHHOFLFORGHURVWL]DGR
SRUFRQYHFFLyQSUHVLRQHHOERWyQ
&219(&7,21&22.FRFFLyQSRU
FRQYHFFLyQ\OXHJRSUHVLRQHODV
DOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUODQXHYDWHPSHUDWXUD
GHVHDGD
*XtDGHURVWL]DGRSRUFRQYHFFLyQ
&yPRXVDUHOKRUQRGHFRQYHFFLyQ
HQDOJXQRVPRGHORV
35(&$8&,Ï1
Summary of Contents for JB870DR
Page 50: ...1RWHV...