Buscar

av2x

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes
Você viu 3, do total de 6 páginas

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes
Você viu 6, do total de 6 páginas

Prévia do material em texto

)HFKDU
$YDOLDomR��*67����B$9�B�������������ª�*(67­2�'$�&$'(,$�'(�6835,0(1726
7LSR�GH�$YDOLDomR��$9��
$OXQR�����������������)$%,$12�/(66$�3(5(,5$�
3URIHVVRU� /8,6�27$9,2�'(�0$5,16�5,%(,52 7XUPD�������$$
1RWD�GD�3URYD������GH������������1RWD�GR�7UDEDOKR���������1RWD�GH�3DUWLFLSDomR�������������'DWD���������������������
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
1D�XWLOL]DomR�GH�LQIRUPDo}HV�QD�/RJtVWLFD�VmR�QHFHVViULDV�DOJXPDV�FDUDFWHUtVWLFDV��4XDO�D�GHILQLomR�
GD�FDUDFWHUtVWLFD�35(&,6­2�"
5HVSRVWD��'HILQLo}HV�FRUUHWDV�H�H[DWDV�VREUH�R�HVWRTXH��SURGXomR���DUPD]HQDJHP�H�WUDQVSRUWH�
*DEDULWR��$V�LQIRUPDo}HV�GLVSRQtYHLV�SHORV�VLVWHPDV�GH�LQIRUPDomR�QXPD�EDVH�GH�GDGRV�
FHQWUDOL]DGD�SUHFLVDP�VHU�SUHFLVDV��RX�VHMD��DSUHVHQWDU�FRQIRUPLGDGH�FRP�DV�QRYDV�LQIRUPDo}HV�TXH�
HQWUDP�QR�VLVWHPD��WDLV�FRPR�VWDWXV�DWXDOL]DGR�H�FRQWDJHQV�ItVLFDV��$�FRQVLVWrQFLD�HQWUH�R�QtYHO�GH�
HVWRTXH�ItVLFR��H�R�HVWRTXH�GLVSRQLELOL]DGR�SHORV�VLVWHPDV�GH�LQIRUPDomR�HOLPLQDP�D�QHFHVVLGDGH�GH�
PDQWHU�HVWRTXHV�GH�VHJXUDQoD��R�TXH�JHUD�SRU�GHFRUUrQFLD��UHGXomR�GH�FXVWRV�GH�DUPD]HQDJHP�
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
8PD�GDV�iUHDV�TXH�PDLV�VH�DQDOLVD�KRMH�GHQWUR�GDV�RUJDQL]Do}HV�VHP�G~YLGD�p�D�*HVWmR�GRV�
(VWRTXHV��SHUFHEH�VH�TXH�RV�LQYHVWLPHQWRV�HP�LWHQV�GH�HVWRTXH�TXH�ILFDP�SDUDGRV�SRU�SHUtRGRV�GH�
WHPSR�PXLWR�ORQJRV�H�VHP�QHFHVVLGDGH�UHWrP�XP�DOWR�LQYHVWLPHQWR�GH�FDSLWDO�GDV�HPSUHVDV��&RPR�
VH�GHILQH�D�JHVWmR�GH�HVWRTXHV�QDV�HPSUHVDV�"�
5HVSRVWD��$OJXPDV�HPSUHVDV�SRVVXHP�HP�VHXV�HVWRTXHV�VRPHQWH�R�TXH�p�HQFRPHQGDGR��RX�VHMD��
VRPHQWH�R�TXH�GH�IDWR�VHUi�XWLOL]DGR��,VVR�WUDV�EHQHILFLRV�FRPR�D�QmR�GHWHULRUDomR�GHVVH�HVWRTXH�H�D�
SHUGD�ILQDQFHLUDPHQWH�SRU�GHL[D�OR�SDUDGR�
*DEDULWR��9HQGUDPH���������GHILQH�TXH�D�JHVWmR�GH�HVWRTXH�FRQVWLWXL�XPD�VpULH�GH�Do}HV�TXH�
SHUPLWHP�DR�DGPLQLVWUDGRU�YHULILFDU�VH�RV�HVWRTXHV�HVWmR�VHQGR�EHP�XWLOL]DGRV��EHP�ORFDOL]DGRV�HP�
UHODomR�DRV�VHWRUHV�TXH�GHOHV�XWLOL]DP��EHP�PDQXVHDGRV�H�EHP�FRQWURODGRV��&RQIRUPH�9HQGUDPH�
��������D�JHVWmR�GH�HVWRTXH�p��EDVLFDPHQWH�R�DWR�GH�JHULU�UHFXUVRV�RFLRVRV�SRVVXLGRUHV�GH�YDORU�
HFRQ{PLFR�H�GHVWLQDGR�DR�VXSULPHQWR�GDV�QHFHVVLGDGHV�IXWXUDV�GH�PDWHULDO��QXPD�RUJDQL]DomR��$�
JHVWmR�GH�HVWRTXH�YLVD��SRUWDQWR��QXPD�SULPHLUD�DERUGDJHP��PDQWHU�RV�UHFXUVRV�RFLRVRV�H[SUHVVRV�
SHOR�LQYHQWiULR�HP�FRQVWDQWH�HTXLOtEULR�HP�UHODomR�DR�QtYHO�HFRQ{PLFR�yWLPR�GRV�LQYHVWLPHQWRV��
3RGH�VHU�HQWHQGLGR�DLQGD��FRPR�FHUWD�TXDQWLGDGH�GH�LWHQV�PDQWLGRV�HP�GLVSRQLELOLGDGH�FRQVWDQWH�H�
UHQRYDGRV��SHUPDQHQWHPHQWH��SDUD�SURGX]LU�OXFURV�H�VHUYLoRV���9(1'5$0(��������
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
2�FLFOR�GH�DWLYLGDGHV�p�D�XQLGDGH�EiVLFD�GR�SURMHWR�H�FRQWUROH�RSHUDFLRQDO��(P�HVVrQFLD��D�HVWUXWXUD�
GRV�FLFORV�GH�DWLYLGDGHV�p�D�EDVH�SDUD�LPSOHPHQWDomR�GD�ORJtVWLFD�LQWHJUDGD��VHQGR�LPSRUWDQWH�R�
FRQKHFLPHQWR�GDV�FDUDFWHUtVWLFDV�GH�FDGD�FLFOR��$�GHVFULomR�D�VHJXLU�HVWi�UHODFLRQDGD�FRP�TXDO�FLFOR�
GH�DWLYLGDGH�"�&RQVWLWXL�VH�QXP�IOX[R�RUGHQDGR�GH�PDWHULDLV�H�FRPSRQHQWHV�SDUD�XP�FRPSOH[R�
GH�SURGXomR��2V�VHXV�SULQFLSDLV�SURFHVVRV�VmR��VHOHomR�GDV�IRQWHV�GH�IRUQHFLPHQWR��FRORFDomR�GH�
SHGLGRV�H�H[SHGLomR��WUDQVSRUWH�H�UHFHELPHQWR��8PD�YH]�UHFHELGRV�RV�PDWHULDLV�H�FRPSRQHQWHV�DV�
QHFHVVLGDGHV�GH�DUPD]HQDJHP��PDQXVHLR�H�WUDQVSRUWH�VXEVHTHQWHV��SDUD�IDFLOLWDU�D�IDEULFDomR�VmR�
DWHQGLGDV�SHOR�FLFOR�GH�DWLYLGDGH�VHJXLQWH��
'LVWULEXLomR
$UPD]HQDJHP
7UDQVSRUWHV
3URGXomR
6XSULPHQWRV
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
2�GHVHPSHQKR�ORJtVWLFR�SRGH�VHU�VLJQLILFDWLYDPHQWH�HOHYDGR��DR�VH�FRPELQDU�DV�WHFQRORJLDV�GH�
LQIRUPDomR��FRP�RV�PDLV�PRGHUQRV�PHLRV�GH�FRPXQLFDomR��Mi�KRMH�DPSODPHQWH�GLVVHPLQDGRV�H�
FDGD�YH]�PDLV�UiSLGRV��4XDO�GDV�GHVFULo}HV�FRUUHVSRQGH�j�WHFQRORJLD�GR�90,�¢�9HQGRU�0DQDJHPHQW�
,QYHQWRU\"
2�IRUQHFHGRU�WRPD�DV�GHFLV}HV�VREUH�R�QtYHO�GH�HVWRTXHV�PDLV�LQGLFDGR�SDUD�FDGD�XP�GRV�
SURGXWRV��UHVSHLWDQGR�QR�HQWDQWR�RV�OLPLWHV�SUHYLDPHQWH�HVWDEHOHFLGRV��DVVLP�FRPR�DV�
SROtWLFDV�GH�HVWRTXHV�DSURSULDGDV�SDUD�PDQWHU�HVWHV�QtYHLV��
e�XPD�IRUPD�GH�UHSUHVHQWDU�D�QXPHUDomR��TXH�YLDELOL]D�D�FDSWXUD�DXWRPiWLFD�GRV�GDGRV�SRU�
PHLR�GH�OHLWXUD�ySWLFD�QDV�RSHUDo}HV�DXWRPDWL]DGDV�
3RGH�VHU�GHILQLGD�FRPR�R�PRYLPHQWR�HOHWU{QLFR�GH�GRFXPHQWRV�SDGUmR�GH�QHJyFLR�HQWUH��RX�
GHQWUR��GH�HPSUHVDV�
2�VLVWHPD�GH�JHVWmR�GH�DUPD]pP�UDVWUHLD�H�FRQWUROD�R�PRYLPHQWR�GR�LQYHQWiULR�GHQWUR�GR�
GHSyVLWR��)DFLOLWDQGR�R�UHJLVWUR��SODQHMDPHQWR�H�R�FRQWUROH�GRV�SURFHVVRV�GR�GHSyVLWR�
(VVH�VLVWHPD�DXWRPDWL]D�R�SURFHVVR�GH�FRPSUDV��Gi�VXSRUWH�DR�UHDEDVWHFLPHQWR�GH�HVWRTXH�
DXWRPiWLFR�H�SUy[LPD�j�UHODomR�HQWUH�FRPSUDGRUHV�H�RV�IRUQHFHGRUHV�
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
8PD�H[LJrQFLD�TXH�VH�ID]�D�WRGR�DGPLQLVWUDGRU�GH�PDWHULDLV�p�XPD�DQiOLVH�GHWDOKDGD�GRV�HVWRTXHV��
1D�EXVFD�GHVVHV�REMHWLYRV��RV�DGPLQLVWUDGRUHV�GLVS}HP�GH�DOJXQV�LQGLFDGRUHV��'HQWUH�HVWHV��R�TXH�
PHGH�D�TXDQWLGDGH�GH�SHGLGRV�IRUQHFLGRV�SHOR�&HQWUR�GH�'LVWULEXLomR�QD�TXDQWLGDGH�FRUUHWD�H�QR�
SUD]R�VROLFLWDGR�SHOR�XVXiULR�GR�PDWHULDO�p�
$WHQGLPHQWR�-XVW�LQ�7LPH
*LUR�GH�HVWRTXHV�
1tYHO�GH�URWDWLYLGDGH�
1tYHO�GH�DWHQGLPHQWR��
&REHUWXUD�GH�HVWRTXH�
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
([LVWHP�YiULRV�LQGLFDGRUHV�SDUD�D�JHVWmR�GRV�HVWRTXHV�TXH�GHYHP�VHU�XVDGRV�SHORV�DGPLQLVWUDGRUHV��
HQWUH�HOHV�
$QiOLVH�$%&��FXVWRV�GRV�HVWRTXHV�H�JLUR�GH�HVWRTXH�
*LUR�GH�HVWRTXH��(53�H�QtYHO�GH�VHUYLoR�
&XVWR�GR�FDSLWDO��(53�H�DQiOLVH�$%&�
-XVW�LQ�7LPH��DQiOLVH�$%&�H�&REHUWXUD�GRV�HVWRTXHV
*LUR�GRV�HVWRTXHV��QtYHO�GH�VHUYLoR�H�FREHUWXUD�GH�HVWRTXHV��
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
8PD�GDV�SULQFLSDLV�UD]}HV�SDUD�LQFRUUHU�QDV�GHVSHVDV�H[WUDV�GH�HPEDODJHP�p�GLPLQXLU�D�RFRUUrQFLD�
GH�GDQRV�H�SHUGDV�GHYLGDV�D�URXER��DUPD]HQDJHP�HP�ORFDLV�HUUDGRV�H�GHWHULRUDomR��4XDO�GDV�
GHVFULo}HV�D�VHJXLU�HVWi�UHODFLRQDGD�j�IXQomR�GH�3527(d­2�"�
e�LPSRUWDQWH�HIHWXDU�WHVWHV�GH�YLEUDomR��FRPSUHVVmR��LPSDFWR�H�TXHGD��
e�IHLWD�FRP�D�XWLOL]DomR�GH�3DOOHW�GH�PDGHLUD��GH�SOiVWLFR�RX�GH�PHWDO�
3RGH�VHU�XWLOL]DGD�SDUD�WUDQVPLWLU�LQIRUPDo}HV�VREUH�R�SUHoR�RX�DV�YLUWXGHV�GR�VHX�SHGLGR�
3RGHP�SURSRUFLRQDU�HFRQRPLDV�QD�FRQILJXUDomR�GDV�SUDWHOHLUDV�HTXLSDPHQWRV�GH�
PRYLPHQWDomR�
3RGHP�SURYRFDU�UHGXo}HV�GH�FXVWRV�FRP�D�PHOKRU�XWLOL]DomR�GRV�HVSDoRV��PDLRUHV�DOWXUDV�H�
PDLRU�GHQVLGDGH�GD�FDUJD�
� �D�4XHVWmR��&yG���������� 3RQWRV�������������
3RGH�VH�REVHUYDU�TXH�QR�WUDQVSRUWH�GH�SURGXWRV��YiULDV�FDUDFWHUtVWLFDV�SUHFLVDP�VHU�REVHUYDGDV�
SDUD�TXH�VH�WHQKD�XP�QtYHO�GH�VHUYLoR�GHVHMiYHO�SHOR�FOLHQWH��FRP�R�PHQRU�FXVWR�SRVVtYHO�4XDO�GDV�
FDUDFWHUtVWLFDV�GHVFULWDV�D�VHJXLU�HVWi�UHODFLRQDGD�DR�WUDQVSRUWH�$48$9,È5,2�"
'HVWLQD�SULQFLSDOPHQWH�DR�WUDQVSRUWH�GH�FXUWDV�H�PpGLDV�GLVWkQFLDV�GH�SURGXWRV�DFDEDGRV�H�
VHPL�DFDEDGRV��3RU�YLD�GH�UHJUD��DSUHVHQWD�SUHoRV�GH�IUHWH�PDLV�HOHYDGRV�GR�TXH�RV�PRGDLV�
FRQFRUUHQWHV��
2�PRGDO�FRQVLGHUDGR�p�R�PDLV�OHQWR�GRV�PRGDLV�GH�WUDQVSRUWH��3RU�HVVH�PRWLYR�QmR�SRGH�
WUDQVSRUWDU�SURGXWRV�SHUHFtYHLV��
2�WUDQVSRUWH�p�XWLOL]DGR�SDUD�R�WUDQVSRUWH�GH�JUDQpLV�OtTXLGRV��SURGXWRV�TXtPLFRV��DUHLD��
FDUYmR��FHUHDLV�H�EHQV�GH�DOWR�YDORU��RSHUDGRUHV�LQWHUQDFLRQDLV��HP�FRQWrLQHUHV�
1HVWH�PRGDO�VmR�WUDQVSRUWDGRV�SURGXWRV�FRPR�LQVWUXPHQWRV��PyYHLV�H�DFHVVyULRV��PHWDLV��
EHELGDV��SURGXWRV�DOLPHQWtFLRV�H�HWF�
e�XP�WLSR�GH�WUDQVSRUWH�PXLWR�HILFLHQWH�SDUD�PRYHU�SURGXWRV�OtTXLGRV�RX�JDVRVRV�HP�JUDQGHV�
GLVWkQFLDV�
� �D�4XHVWmR��&yG��������� 3RQWRV�������������
$�6XEPDULQR�FRQVWLWXL�XPD�GDV�PDLRUHV�HPSUHVDV�EUDVLOHLUDV�GH�FRPpUFLR�HOHWU{QLFR��H�FRPPHUFH���
FXMR�QHJyFLR�GHSHQGH�FUXFLDOPHQWH�GD�ORJtVWLFD��WHQGR�DWXDomR�HP�WRGR�R�WHUULWyULR�QDFLRQDO��3DUD�
SHUPLWLU�D�RSHUDFLRQDOL]DomR�GR�VHX�SURFHVVR�ORJtVWLFR��D�HPSUHVD�IH]�XPD�SDUFHULD�FRP�R�JUXSR�
,QWHFRP��TXH�SRU�VXD�YH]�WHP�R�FRQWUROH�DFLRQiULR�GLYLGLGR�HQWUH�GRLV�JUDQGHV�JUXSRV��R�JUXSR�
-3�0RUJDQ�H�R�JUXSR�0DUWLQV��PDLRU�DWDFDGLVWD�GLVWULEXLGRU�GD�$PpULFD�/DWLQD��FRP�EDVWDQWH�
FDSLODULGDGH�QR�WHUULWyULR�EUDVLOHLUR��6XEPDULQR�UHDOL]D�DV�RSHUDo}HV�GH�SLFNLQJ�H�HPEDODJHP��VHQGR�
R�UHVWDQWH�GR�SURFHVVR�RSHUDFLRQDOL]DGR�SHOD�,QWHFRP��&RQVLGHUDQGR�DV�FDUDFWHUtVWLFDV�GRV�SURGXWRV��
GD�GHPDQGD�H�GR�QHJyFLR��TXDO�R�VLVWHPD�GH�GLVWULEXLomR�GH�&'V�TXH�PDLV�VH�DGDSWDULD�DR�QHJyFLR"�6LVWHPD�&URVV�'RFNLQJ�
6LVWHPD�(VFDORQDGR
6LVWHPD�0HUJH�LQ�7UDQVLW�
6LVWHPD�0LVWR
6LVWHPD�'LUHWR�
� ��D�4XHVWmR��&yG��������� 3RQWRV�������������
$�HPEDODJHP�SURSRUFLRQD�D�SURWHomR�QHFHVViULD�DR�SURGXWR�GXUDQWH�R�DUPD]HQDPHQWR��4XDLV�DV�
YDQWDJHQV�TXH�HOD�SRGH�WUD]HU�QR�SURFHVVR�GH�DUPD]HQDJHP"�
0HOKRUD�XWLOL]DomR�GRV�HVSDoRV��IDFLOLGDGH�GH�LGHQWLILFDomR�H�HYLWD�UHWUDEDOKR
5DSLGH]�QR�PDQXVHLR��UDSLGH]�QR�SURFHVVR�GH�IDWXUDPHQWR��IDFLOLGDGH�GH�LGHQWLILFDomR
0HOKRUD�D�XWLOL]DomR�GRV�HVSDoRV��IDFLOLGDGH�GH�LGHQWLILFDomR��UDSLGH]�QR�SURFHVVR�GH�
IDWXUDPHQWR�
(YLWD�UHWUDEDOKR��UDSLGH]�QR�SURFHVVR�GH�IDWXUDPHQWR��IDFLOLGDGH�GH�LGHQWLILFDomR
0HOKRUD�D�XWLOL]DomR�GRV�HVSDoRV��HYLWD�UHWUDEDOKR��UDSLGH]�QR�SURFHVVR�GH�IDWXUDPHQWR�

Continue navegando