Loading ...
Loading ...
Loading ...
&yPRXVDUODVRQGDHQDOJXQRVPRGHORV
,QWURGX]FDODVRQGDSRUFRPSOHWRHQORV
DOLPHQWRV
(QFKXIHODVRQGDGHQWURGHODERFDGHVDOLGD
GHOKRUQR9HULILTXHTXHHVWpLQWURGXFLGDKDVWD
HOIRQGR&LHUUHODSXHUWDGHOKRUQR9HULILTXH
TXHHOFDEOHGHODVRQGDQRWRTXHHOHOHPHQWR
DVDGRU
3UHVLRQHHOERWyQ352%(VRQGD
/DSDQWDOODPRVWUDUi
´6HW3UREHµ
7HPSHUDWXUDGHOD6RQGD
3UHVLRQHODVDOPRKDGLOODVQXPpULFDV
SDUDFRQILJXUDUODWHPSHUDWXUDLQWHUQD
GHVHDGDGHORVDOLPHQWRVRGHODFDUQH/D
WHPSHUDWXUDLQWHUQDPi[LPDDODTXHSXHGHQ
FRQILJXUDUVHORVDOLPHQWRVHV)&
3UHVLRQHODWHFOD%$.(+RUQHDUR
&219(&7,21&RQYHFFLyQ
3UHVLRQHODVDOPRKDGLOODVQXPpULFDVSDUD
FRQILJXUDUODWHPSHUDWXUDGHVHDGDGHOKRUQR
3UHVLRQHHOERWyQ67$57LQLFLDU
/DSDQWDOODGHVWHOODUiVLODVRQGDVHHQFXHQWUD
HQFKXIDGDGHQWURGHODERFDGHVDOLGD\XVWHGQRKD
FRQILJXUDGRXQDWHPSHUDWXUDGHVRQGD
\SUHVLRQDGRHOERWyQ67$57LQLFLDU
3UHVLRQHODWHFOD352%(6RQGDSDUDUHFRUGDUOD
WHPSHUDWXUDGHODVRQGDRODWHFOD%$.(+RUQHDU
R&219(&7,21&RQYHFFLyQSDUDUHFRUGDUOD
WHPSHUDWXUDGHOKRUQR3DUDODWHPSHUDWXUDGH
ODVRQGDOXHJRGHTXHODWHPSHUDWXUDLQWHUQDGH
ODFRPLGDDOFDQFHORV)ORVFDPELRVGHOD
WHPSHUDWXUDLQWHUQDDSDUHFHUiQHQODSDQWDOOD
&XDQGRODWHPSHUDWXUDLQWHUQDGHORV
DOLPHQWRVDOFDQ]DODFLIUDTXHXVWHGKD
FRQILJXUDGRODVRQGD\HOKRUQRVHDSDJDQ\
ORVFRQWUROHVGHOKRUQRFRPLHQ]DQDGHVWHOODU
3DUDGHWHQHUHOGHVWHOORSUHVLRQHHOERWyQ
&/($52))ERUUDUDSDJDGR8WLOLFHJXDQWHV
GHFRFLQDSDUDTXLWDUODVRQGDGHORVDOLPHQWRV
1RXWLOLFHSLQ]DVSDUDTXLWDUODSRUTXHSRGUtDQ
GDxDUOD
6LODVRQGDVHTXLWDGHOKRUQRPLHQWUDV
VHHVWDEDFRFLQDQGRHOKRUQRQRVHDSDJDUi
DXWRPiWLFDPHQWH
3DUDFDPELDUODWHPSHUDWXUDGHOKRUQRGXUDQWHHO
FLFORGHKRUQHDGRURVWL]DGRSUHVLRQHHOERWyQ%$.(
KRUQHDUR&219(&7,21FRQYHFFLyQ\OXHJRODV
DOPRKDGLOODVQXPpULFDVSDUDFRQILJXUDUODQXHYD
WHPSHUDWXUD
3XHGHXWLOL]DUHOWHPSRUL]DGRUGHFRFLQDDXQTXH
QRSXHGHQXVDUVHRSHUDFLRQHV
GHOKRUQRFRQWHPSRUL]DGRUPLHQWUDVVHXWLOLFHOD
VRQGD

3DUDHYLWDUTXHPDGXUDVQRGHVHQFKXIHODVRQGDGH
ODERFDGHVDOLGDGHOKRUQRKDVWDTXHpVWHVHKD\D
HQIULDGR
(OXVRGHVRQGDVGLVWLQWDVDODVSURYLVWDVFRQHVWH
SURGXFWRSXHGHSURYRFDUOHVGDxRVDODVPLVPDVRDO
FRQWUROGHOKRUQR
8WLOLFHODVPDQLMDVGHODVRQGD\HOHQFKXIHFXDQGR
ODVLQWURGX]FD\TXLWHGHORVDOLPHQWRV\GHODERFD
GHVDOLGD
3DUDHYLWDUGDxRVDODVRQGDQRXWLOLFHSLQ]DVSDUD
WLUDUGHOFDEOHFXDQGRORTXLWH
3DUDQRURPSHUODVRQGDYHULILTXHTXHORV
DOLPHQWRVHVWpQWRWDOPHQWHGHVFRQJHODGRVDQWHV
GHLQWURGXFLUOD
'HVSXpVGHSUHSDUDUODFDUQH\FRORFDUODHQXQ
SRVDIXHQWHVRVREUHODUHMLOODGHODDVDGHUDVLJDHVWDV
LQVWUXFFLRQHVSDUDXQDFRORFDFLyQDGHFXDGDGHOD
VRQGD
,QWURGX]FDODVRQGDFRPSOHWDPHQWHHQODFDUQH1R
GHEHWRFDUKXHVRJUDVDRFDUWtODJR
127$1RLQVHUWDUSRUFRPSOHWRODVRQGDGHQWURGHOD
FDUQHSXHGHSURYRFDUXQSREUHGHVHPSHxRGHFRFFLyQ
SRUTXHODVRQGDGHWHFWDUiHODLUHGHOKRUQR\QROD
WHPSHUDWXUDGHORVDOLPHQWRV
1XQFDGHMHODVRQGDGHQWURGHOKRUQRGXUDQWHXQ
FLFORGHDXWROLPSLH]DRGHDVDGR
1RJXDUGHODVRQGDGHQWURGHOKRUQR
3DUDDVDGRVVLQKXHVRLQWURGX]FDODVRQGDGHQWUR
GHODSDUWHPiVFDUQRVD3DUDMDPyQRFRUGHURFRQ
KXHVRLQWURGX]FDODVRQGDHQHOFHQWURGHOP~VFXOR
JUDQGHPiVEDMR
,QWURGX]FDODVRQGDHQHOFHQWURGHSODWRVWDOHV
FRPRSDQGHFDUQHRHVWRIDGRV
,QWURGX]FDODVRQGDGHQWURGHODSDUWHPiVFDUQRVD
GHOPXVORLQWHUQRGHVGHDEDMR\HQIRUPDSDUDOHODD
ODSDWDGHXQSDYRHQWHUR
127$1RVHSRGUiQXWLOL]DUODVFRQILJXUDFLRQHVGH
DXWROLPSLH]DQLGHDVDGRVLODVRQGDGHWHPSHUDWXUD
VHHQFXHQWUDHQFKXIDGD
/DVRQGDGHWHPSHUDWXUDFXHQWD
FRQXQDVRQGDVLPLODUDXQSLQFKR
HQXQH[WUHPR\XQHQFKXIHHQHO
RWURH[WUHPRTXHVHLQWURGXFHHQ
ODERFDGHVDOLGDGHOKRUQR
&yPRFRQILJXUDUHOKRUQRSDUDKRUQHDGRURVWL]DGRFXDQGRXVDODVRQGD
HQDOJXQRVPRGHORV
OR
(QFKXIH
&DEOH
0DQLMDV
6RQGD
(QPXFKRVDOLPHQWRVHVSHFLDOPHQWHDVDGRV\FDUQHVGHDYHODWHPSHUDWXUDLQWHUQDGHORVDOLPHQWRVHVODPHMRUSUXHEDSDUD
YHULILFDUHOJUDGRGHFRFFLyQ0HGLDQWHODVRQGDGHWHPSHUDWXUDVHHYLWDWHQHUTXHDGLYLQDUHOJUDGRGHFRFFLyQ
\VHORJUDHOSXQWRGHFRFFLyQH[DFWR
/HD\TXLWHODHWLTXHWD

35(&$8&,Ï1
Loading ...
Loading ...
Loading ...