{"id":6566,"date":"2025-09-11T10:36:08","date_gmt":"2025-09-11T08:36:08","guid":{"rendered":"http:\/\/miramegias.com\/emodulos\/?page_id=6566"},"modified":"2026-04-28T13:05:54","modified_gmt":"2026-04-28T11:05:54","slug":"analisis-de-los-estados-financieros","status":"publish","type":"page","link":"https:\/\/miramegias.com\/emodulos\/analisis-de-los-estados-financieros\/","title":{"rendered":"An\u00e1lisis de los estados financieros"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6566\" class=\"elementor elementor-6566\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c71eaf7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c71eaf7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e49a08a\" data-id=\"e49a08a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a0b833e elementor-widget elementor-widget-text-editor\" data-id=\"a0b833e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Los objetivos de la unidad, son comprender la estructura y l\u00f3gica del <b class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">balance<\/b> y la <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">cuenta de p\u00e9rdidas y ganancias<\/strong>.<\/p><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Elaborar el <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">modelo vertical<\/strong> para interpretar la composici\u00f3n y peso relativo de las partidas. Calcular e interpretar <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">ratios patrimoniales<\/strong>, <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">financieros<\/strong> (liquidez y solvencia) y <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">econ\u00f3micos y de rentabilidad<\/strong>. Determinar e interpretar el <strong class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">fondo de maniobra<\/strong>. Integrar la informaci\u00f3n para emitir un <b>diagn\u00f3stico<\/b> coherente con la estrategia empresarial.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dc4b5c7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dc4b5c7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-39b1e7e\" data-id=\"39b1e7e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c2b773b elementor-widget elementor-widget-heading\" data-id=\"c2b773b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Estados financieros: punto de partida<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ed2720a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed2720a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b98fae\" data-id=\"3b98fae\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40d3bee elementor-widget elementor-widget-text-editor\" data-id=\"40d3bee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4 class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Balance de situaci\u00f3n<\/h4><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Activo (estructura econ\u00f3mica). Activo no corriente (inmovilizado material e inmaterial, inversiones financieras a LP, otros). Activo corriente (existencias, clientes, otros deudores, tesorer\u00eda).<\/p><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Patrimonio neto y Pasivo (estructura financiera). Patrimonio neto (capital, reservas, resultados). Pasivo no corriente (deudas a LP, provisiones). Pasivo corriente (proveedores, deudas a CP, otros acreedores)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b3dd1b2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b3dd1b2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0f0ed3b\" data-id=\"0f0ed3b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-913cd10 elementor-widget elementor-widget-text-editor\" data-id=\"913cd10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4 class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Cuenta de resultados<\/h4><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Ventas (Cifra de negocios). Coste de ventas (consumo de mercader\u00edas). Margen bruto. Gastos de explotaci\u00f3n (personal, aprovisionamientos auxiliares, amortizaci\u00f3n, servicios exteriores). Resultado de explotaci\u00f3n (BAII\/EBIT). Resultado financiero (ingresos\/gastos financieros). Resultado antes de impuestos (BAI). Impuesto sobre beneficios. Resultado del ejercicio. Modelo vertical: expresar cada partida como % de Ventas (100%).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-67c0920 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67c0920\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fbe5bb1\" data-id=\"fbe5bb1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3cdf47a elementor-widget elementor-widget-text-editor\" data-id=\"3cdf47a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Modelo oficial de las <a class=\"dracula-style-txt-border dracula-style-link dracula-processed\" href=\"https:\/\/miramegias.com\/emodulos\/wp-content\/uploads\/2023\/01\/cuentas_anuales_pymes_2021.pdf\" target=\"_blank\" rel=\"noopener\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Cuentas Anuales PYME<\/a>&nbsp;para su dep\u00f3sito.<\/p>\n<p>Cuentas anuales de:&nbsp;<a href=\"https:\/\/www.mercalicante.com\/galeria\/economica_desplegables\/ccaa--informe-de-auditoria_f_5_19_es.pdf\" target=\"_blank\" rel=\"noopener\" style=\"background-color: rgb(255, 255, 255);\">MERCALICANTE 2023<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6451e1d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6451e1d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6977604\" data-id=\"6977604\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8068bb1 elementor-widget elementor-widget-heading\" data-id=\"8068bb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Herramientas de an\u00e1lisis: ratios y fondo de maniobra<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f5fe31b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f5fe31b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b89753f\" data-id=\"b89753f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-50e2778 elementor-widget elementor-widget-text-editor\" data-id=\"50e2778\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong>Fondo de maniobra (FM)<\/strong><\/p><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">FM = Activo corriente &#8211; Pasivo corriente<\/p><p>Interpretaci\u00f3n:<\/p><ul><li>FM &gt; 0: cobertura del ciclo a corto plazo con recursos estables; mayor margen de seguridad.<\/li><li>FM = 0: equilibrio estricto; atenci\u00f3n a cualquier tensi\u00f3n.<\/li><li>FM &lt; 0: riesgo de tensiones de liquidez; financiaci\u00f3n de AC con pasivos a corto.<\/li><\/ul><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong>Ratios patrimoniales<\/strong> (estructura de financiaci\u00f3n)<br \/>Autonom\u00eda financiera = Patrimonio neto \/ Pasivo total.<br \/>Endeudamiento = Pasivo total \/ Patrimonio neto.<br \/>Calidad de la deuda = Pasivo corriente \/ Pasivo total.<\/p><p data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong>Ratios financieros<\/strong> (liquidez y solvencia)<br \/>Liquidez corriente = Activo corriente \/ Pasivo corriente.<br \/>Prueba \u00e1cida = (Activo corriente \u2013 Existencias) \/ Pasivo corriente.<br \/>Tesorer\u00eda inmediata = Efectivo \/ Pasivo corriente.<br \/>Solvencia total = Activo total \/ Pasivo exigible (Pasivo total).<\/p><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong>Ratios de rentabilidad<\/strong> (econ\u00f3micos)<br \/>Margen bruto = (Ventas \u2013 Coste de ventas) \/ Ventas.<br \/>Margen operativo = BAII \/ Ventas.<br \/>Margen neto = Beneficio neto \/ Ventas.<br \/>Rentabilidad econ\u00f3mica (ROA) = BAII \/ Activo total.<\/p><p class=\"dracula-style-txt-border dracula-processed\" data-dracula_alpha_bg=\"rgba(0, 0, 0, 0)\">Rentabilidad financiera (ROE) = Beneficio neto \/ Patrimonio neto.<br \/>Apalancamiento financiero = ROE \/ ROA.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6104e16 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6104e16\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-df50322\" data-id=\"df50322\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9a227e1 elementor-widget elementor-widget-text-editor\" data-id=\"9a227e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A trav\u00e9s del Banco de Espa\u00f1a en su <a href=\"https:\/\/www.bde.es\/wbe\/es\/areas-actuacion\/central-balances\/\" target=\"_blank\" rel=\"noopener\">Central de Balances<\/a> y del Registro Mercantil, de las cuentas anuales presentadas, se facilitan <a href=\"https:\/\/www.registradores.org\/documents\/33383\/33715740\/2.4+Las+PYME+Societarias+2018-2022+y+Avance+2023.+AnexoSectorial+2018-2022.pdf\/693a2c1b-6fd4-e384-6a01-a4619095c198?t=1734421494344\" target=\"_blank\" rel=\"noopener\">informes y estad\u00edsticas (de 2018-22 y avance de 2023)<\/a>. Las <a href=\"https:\/\/www.cnmv.es\/DocPortal\/OtrosDocumentos\/ESEF_RegistradoresEspana.pdf\" target=\"_blank\" rel=\"noopener\">estad\u00edsticas, se basan en el siguiente procedimiento<\/a>.<\/p><p>Puedes utilizar <a href=\"https:\/\/app.bde.es\/gnt_spa\/rse\/es\/#\/\" target=\"_blank\" rel=\"noopener\">Compara tu Empresa del Banco de Espa\u00f1a<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0815dd4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0815dd4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0dc5f3d\" data-id=\"0dc5f3d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c3a486e elementor-widget elementor-widget-text-editor\" data-id=\"c3a486e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Ejercicios: <a href=\"https:\/\/miramegias.com\/emodulos\/wp-content\/uploads\/2025\/10\/datos.xlsx\" target=\"_blank\" rel=\"noopener\">Descargar desde aqu\u00ed<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Los objetivos de la unidad, son comprender la estructura y l\u00f3gica del balance y la cuenta de p\u00e9rdidas y ganancias. Elaborar el [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6566","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/pages\/6566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/comments?post=6566"}],"version-history":[{"count":68,"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/pages\/6566\/revisions"}],"predecessor-version":[{"id":7432,"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/pages\/6566\/revisions\/7432"}],"wp:attachment":[{"href":"https:\/\/miramegias.com\/emodulos\/wp-json\/wp\/v2\/media?parent=6566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}