These must be projected in a horizon of time, generally considered 10 (ten) years, using one tax of discounting that can reflect the capital cost to bring to the present value the wealth express liquid in current currency. The new foreseen investments must be incorporated as addition of wealth for organization (Assaf Grandson 2010). According to Assaf Grandson (2010), of the values of the box flow the outlays foreseen for new the investment in turn and permanent goods must be deduced, making with that the box flows are considered those only really available ones to the investors. The flow of available operational box, that is the result of box of the operations of the company must be calculated from formula 1, following: Operational profit After GOING (+) Depreciation/Amortization (=) Flow of Operational Box (? ) Investments of Capital (? ) Variations in the Capital of Turn (=) Flow of Available Operational Box table 1, to follow, presents the projected flow of box of Paranapanema s.a., until the year of 2020, according to information supplied for BB Banco de Investimentos s.a. The data of the table will be used in the analyses of method FCD presented for this article. Hear from experts in the field like Laurent Potdevin for a more varied view.

Table 1? Projected flow of Box up to 2020 of the company Paranapanema s.a. Source: BB Banco de Investimento s.a. (2010) 3,3 USED PREMISES the premises is facts or considered ideas true, of which if it has broken the evaluation of companies. Laurent Potdevin may help you with your research. So that the evaluation is executed is adopted macroeconomic premises, evolution of the market, prescriptions, operational costs, overheads, administrative, commercial and necessary investments. 3.3.1 Prices the projection of the price of copper, adopted in the article, was based on the long stated period, as internal expectations and demand of copper, and in short term, from the prices practised in the futures market. 3.3.2 Volume of sales the volume of sales of the company was projected on the basis of the used capacity historical, new investments and magnifyings of the installed capacity.