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Evidencia 5: Summary “Export-import theory”

Presentado por:
Jessica Paola García Carvajal

SENA (Servicio nacional de aprendizaje)

Tecnólogo en Gestión logística
Septiembre Año 2019

Actividad de aprendizaje 15
Evidencia 5: Summary “Export-import theory”

Contar con los conocimientos necesarios para realizar un proceso de exportación,

requiere no solo de manejar habilidades lectoras para apropiar las normas y pasos
a seguir, sino también comprender y extraer los aspectos más importantes de
cada texto. Existen gran cantidad de textos referentes exportación e importación
en inglés, por lo cual es necesario fortalecer las competencias en dicha lengua.

Para reforzar lo mencionado, realice las siguientes actividades:

1. Lea el siguiente texto:

Export-Import Theory1

Setting up the business

Whether it is a new or existing export-import business, the legal form, or

structure, will determine how the business is to be conducted, its tax
liability, and other important considerations. Each form of business
organization has its own advantages and disadvantages, and the
entrepreneur has to select the one that best fulfills the goals of the
entrepreneur and the business. Selection of an appropriate business
organization is a task that requires accounting and legal expertise and
should be done with the advice of a competent attorney or accountant.

Ownership structure

In this section, we examine different forms of business organizations: sole

proprietorships, partnerships, corporations, and limited liability companies.

Sole proprietorships

1
Belay, S. (2009). Export-Import Theory, Practices, and Procedures. (2a ed.). New York: Routledge.
A sole proprietorship is a firm owned and operated by one individual. No
separate legal entity exists. There is one principal in the business who has
total control over all export-import operations and who can make decisions
without consulting anyone. The major advantages of sole proprietorships
are as follows:

1. They are easy to organize and simple to control. Establishing an export-

import business as sole proprietorship is simple and inexpensive and
requires little or no government approval. At the state level, registration of
the business name is required, while at the federal level, sole proprietors
need to keep accurate accounting records and attach a profit or loss
statement for the business when filing individual tax returns (Schedule C,
Internal Revenue Service Form 1040). They must operate on a calendar
year and can use the cash or accrual method of accounting.

2. They are more flexible to manage than partnerships or corporations. The

owner makes all operational and management decisions concerning the
business. The owner can remove money or other assets of the business
without legal or tax consequences. He or she can also easily transfer or
terminate the business.

3. Sole proprietorships are subject to minimal government regulations

versus other business concerns.

4. The owner of a sole proprietorship is taxed as an individual, at a rate

lower than the corporate income tax rate. Losses from the export import
business can be applied by the owner to offset taxable income from other
sources. Sole proprietors are also allowed to establish tax exempt
retirement accounts. (Harper, 1991; Cheeseman, 2006a)
The major disadvantage of running an export-import concern as a sole
proprietorship is the risk of unlimited liability. The owner is personally liable
for the debts and other liabilities of the business. Insurance can be bought
 to protect against these liabilities; however, if insurance protection is not
sufficient to cover legal liability for defective products or debts, judgment
creditors’ next recourse is the personal assets of the owner. Another
disadvantage is that the proprietor’s access to capital is limited to personal
funds plus any loans that can be obtained. In addition, very few individuals
have all the necessary skills to run an export-import business, and the
owner may lack certain skills. The business may also terminate upon the
death or disability of the owner.

Establishing an appropriate business organization: pointers

 Does the entrepreneur intend to be the sole owner of the export-import

business? If not, how many people have an ownership interest?

 Does the entrepreneur need additional capital and/or expertise?

 What legal form provides the greatest flexibility for management?

 What legal form affords the most advantageous tax treatment for the
business concern and individual entrepreneurs?

 Which legal structure is easy and less expensive to establish and subject
to a low degree of government regulation?

 How important is it to limit personal liability of owners?

vocabulario significado
Sin Without
Proprietorships Propietarios
Applied Aplicado
Attorney Abogado
Skills Habilidades
 Upon Sobre
Returns Devoluciones
Losses Pérdidas
Judgment Juicio
Loans Prestamos
Disadvantages Desventajas
Income Ingresos
Advantages Ventajas
Sole Único
Little Pequeño
o
o Which legal structure is the most appropriate in light of the goals and
objectives of the export-import business? (Belay, 2009).

3 El texto sugerido al inicio de esta evidencia cuenta con varios párrafos, y al

interior de cada párrafo se encuentran varias ideas principales. Por favor,
lea el material complementario “Identifying the main idea” para conocer
cómo se puede encontrar la idea principal en un párrafo escrito en inglés.

MAIN IDEAS
 A business configuration
 She knows all about the proper trade
 Normally the company complies with the appropriate requirements
 It must always be structurally conformed
 She knows the organization
 You must always know the minimum governmental regulations
 He knows the advantages and disadvantages of the unique Owner
 He does not know the risk of unlimited liability.
 Know the main disadvantage?
 He is making an export to Chile.
 I am filling commercial documents.
 Now she is working on the configuration of the company

Luego de analizar el material complementario, por favor escriba las ideas

principales de cada párrafo, en presente simple, en inglés. No haga transcripción
literal de los párrafos. A continuación, transforme la oración a presente progresivo,
también en inglés.
 Simple Present Tense
How to carries out a business
There's are different forms of
commercial organizations
The director controls all export
and import operations
The sole proprietors are simple
and lows in costs
The owners are in charges of
make all the decisions
The individual companies are
governamental
The individual owners have a
lower rate than the tax rate
The owners are responsible for
their business
Present Progressive Tense
How to carriesing out a
business
There's are differenting forms
of commercial organizations
The director controlling all
export and import operations
The sole proprietors are simple
and low in costsing
The owners are in charge of
making all the decisions
The individual companying are
governamental
The individual owners having a
lower rate than the tax rate
The owners are responsible for
their business

4. Organice las ideas en un solo resumen, de manera que se conecten

coherentemente, en 15 líneas.

Conduct an export and import business, in different forms of organizations

commercial, its creation, whether new or already created, it meets all the required
requirements, taking into account the structuring of the property and the
commercial organization.
Knowing well that each legal form in which the company has its legal bases will
apply different processes, so you should know what you should apply to have
greater knowledge and not have legal consequences in the environment, Where
there is an organization and, above all, minimum government regulations, where
for an owner, either alone or in society, knows all the guarantees against other
business concerns of a single business owner and the main disadvantage of
executing an export and Import concern as sole owner is the risk of unlimited
liability. Showing the advantages and disadvantages compared to other types of
business organizations.