RAMOS, L. A.; http://lattes.cnpq.br/1158680132353484; RAMOS, Lara de Alencar.
Resumen:
Work of Capital management is one of the most important topics in short term
financial analysis. For that reason, the purpose of this work is to study the financial healthy of
seven companies of the sector of Cyclic Consumption, Commerce, Fabrics, Clothing and
Footwear by two different points of view: the Traditional Model and the Dynamic Model.
The Traditional Model uses liquidity ratios and Net Working Capital to evaluate the
financial performance of the company. The model’s critics claims that is hard and difficult to
interpret the result of the ratios because of the huge numbers and contradiction between then.
Besides that, the model does not considerate the dynamic behavior of the work of capital.
The necessity of a model that would consider the dynamic character of work of
capital, Michel Fleuriet, an teacher born in france but raised in Brazil developed a new model
of work of capital analyses, the model is known as: Fleuriet Model, and it is based in three
indicators: working capital, working capital requirement and treasury balance.
The work results shows that the application of Fleuriet Model is more realistic, on the
financial healthy, than the traditional model on the companies analyzed.
