Evidencia 5 - Summary "Export-Import Theory"

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SENA-CENTRO DE MATERIALES Y ENSAYOS

Actividad de aprendizaje 15

Evidencia 5: Summary “Export-import theory”

Presentado al Instructor:

Instructor bilingüismo

Presentado Por:

Hilda Milena Ayala Ayala

Bogotá D.C., 27 de Febrero de 2022


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.

1
Belay, S. (2009). Export-Import Theory, Practices, and Procedures. (2a ed.). New York: Routledge.
Sole proprietorships

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?


o Which legal structure is the most appropriate in light of the goals and
objectives of the export-import business? (Belay, 2009).

2. Elabore una lista de vocabulario sobre el texto, mínimo de 15 palabras y escriba


su respectivo significado en inglés.
vocabulary meaning
Advantages: a condition giving a greaterchance of success. Ventajas: una condición que da una mayor
oportunidad de éxito.

Applied: That puts effort, interest andperseverance in the Aplicado: Que pone esfuerzo, interés y constancia
accomplishment of awork or in the development of an en la realización de un trabajo o en el desarrollo de
activity,especially in the study una actividad, en especial en el estudio.
.
Attorney: Person legally authorized toadvise and defend the Abogado: Persona legalmente autorizada para
rights and interestsof another person in legal matters. asesorar y defender los derechos e intereses de
otra persona en materia jurídica.

Busines: the activity of buying andselling goods and services Negocio: la actividad de comprar y vender bienes y
servicios.

Disadvantages: a condition or situationthat causes Desventajas: una condición o situación que causa
problems, especially one thatcauses something or someone problemas, especialmente una que causa que algo
to be lesssuccessful than other things or people o alguien sea menos exitoso que otras cosas o
personas

Income:money that is earned from doingwork or received Ingresos: dinero que se gana haciendo trabajo o
from investments recibido de inversiones.

Judgment: the ability to form valuableopinions and make Juicio: la capacidad de formar opiniones valiosas y
good decisions. tomar buenas decisiones.

Little: That has a smaller size than normal. Pequeño: Que tiene un tamaño menor delo
normal.

Loans: an amount of money that isborrowed, often from a Prestamos: una cantidad de dinero que se toma
bank, and has to bepaid back, usually together with an prestado, a menudo de un banco, y que debe
extraamount of money that you have to pay as acharge for devolverse, generalmente junto con una cantidad
borrowing. adicional de dinero que debe pagar como cargo por
el préstamo:
Loss: the fact that you no longer havesomething or have less Pérdidas: el hecho de que ya no tienes algo o
of something tienes menos

Returns: The return is the act of givingsomething back to Devoluciones: La devolución es el acto de entregar
someone. It is a processthat is based on a right of possession algo nuevamente a alguien. Es un proceso de se
of acertain person with respect to a certaingood that was sustenta en un derecho de posesión de una
delivered with some type ofspecific objective determinada persona con respecto a un
determinado bien que fue entregado con algún
tipo de objetivo específico

sole: being one only único: siendo solo uno

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.

 Because of the unlimited liability it is recommended to choose a goodinsurance to avoid


personal financial ruin.
 In the following section you read about sole proprietorships: a companythat is owned and
operated by one person.
 One advantage is, that it is easy to maintain and organize because theregistration
procedures are cheap and require almost no governmentalapproval at all.
 The owner has total control over the finances and other assets.
 Compared to other forms it is lowly regulated by government.
 As a sole proprietor you pay less taxes.
 Because of the unlimited liability it is recommended to choose a goodinsurance to avoid
personal financial ruin.

4. 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 Present Progressive Tense


It is important to cloosse the ringt form It is being important to chose the right
of bussines organization form of busines organisation
In the following section you read about In the following section you are
reading
sole proprietorships: a company that about sole proprietorships: a
isowned and operated by one person. companythat is owned and operated
by oneperson.
One advantage is, that it is easy One advantage is, that it is easy
tomaintain and organize because tomaintain and organize because
theregistration procedures are cheap theregistration procedures are
andrequire almost no beingcheap and require almost
governmentalapproval at all. nogovernmental approval at all.
The owner has total control over The owner is having total control
thefinances and other assets. overthe finances and other assets
Compared to other forms it is Compared to other forms it is
lowlyregulated by government. beinglowly regulated by government.
As a sole proprietor you pay lesstaxes As a sole proprietor you are
payingless taxes
Because of the unlimited liability it Because of the unlimited liability it
isrecommended to choose a isbeing recommended to choose a
goodinsurance to avoid personal goodinsurance to avoid personal
financialruin. financialruin.

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


coherentemente, en 15 líneas.

It is important to choose the right form of business organization. In the


followingsection you can read about the sole proprietorships: in this case, a company
that isowned and operated by one person. One advantage is, that it is easy to
maintainand organize because the registration procedures are cheap and require
almost nogovernmental approval at all.The owner has total control over the finances
andother assets.Compared to other forms it is lowly regulated by government.As
asole proprietor you pay less taxes.Because of the unlimited liability it
isrecommended to choose a good insurance to avoid personal financial ruin.

Nota: para el desarrollo de esta evidencia se debe tener en cuenta el material de


formación “Using simple present and progressive to export” y el material
complementario asociado a esta actividad de aprendizaje.

Desarrolle esta evidencia con la herramienta ofimática de su preferencia y envíe el


archivo al instructor a través de la plataforma virtual de aprendizaje en formato .doc
o .pdf.

Pasos para enviar la evidencia:


1. Clic en el título de la evidencia.
2. Clic en Examinar mi equipo y buscar el archivo previamente guardado.
3. Dejar un comentario al instructor (opcional).
4. Clic en Enviar.

Nota: esta evidencia es de carácter individual. Recuerde revisar la guía de


aprendizaje con el fin de verificar que ha realizado todas las actividades propuestas,
saber cómo desarrollarlas y entregarlas correctamente.
Criterios de evaluación
Realiza resúmenes de la información relevante y detallada de un texto técnico en
inglés.

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