ACTIVIDAD DE APRENDIZAJE 15

EVIDENCIA 5: SUMMARY “EXPORT – IMPORT THEORY”

SENA
CENTRO TEXTIL Y DE GESTION INDUSTRIAL
ACTIVIDAD DE APRENDIZAJE 15 – FASE EJECUCION

JEIMMY ALEJANDRA VALENTIN

 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.

1
Ownership structure

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

proprietorships, partnerships, corporations, and limited liability companies.

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.

ENTREPRENEUR: Someone who starts their own business, especially when

this involves seeing a new opportunity.

ADVICE: An opinion that someone offers you about what you should do or how
you should act in a particular situation.

GOVERNMENT: The group of people who officially control a country.

ACCURATE: Something correct, exact, and without any mistakes.

INCOME: Money that is earned from doing work or received from investments.

LOSSES: The fact that you no longer have something or have less of
something.

LEGAL ENTITY: A company or organization that has legal rights and

responsibilities.
 TAX: (An amount of) money paid to the government that is based on your
income or the cost of goods or services you have bought.

SOLE PROPRIETORSHIP: A business that is owned and operated by only one

person.

ASSETS: Something valuable belonging to a person or organization that can be

used for the payment of debts.

JUDGMENT: The ability to form valuable opinions and make good decisions.

INSURANCE: An agreement in which you pay company money and they pay
your costs if you have an accident.

EXPORT: To put something from one country into use in other countries.

IMPORT: To introduce new goods, customs, or ideas to one country from

another.

ATTORNEY: A person who has the legal right to act for someone else.

3. 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 choose the right form It is being important to choose the right
of business organization form of business organization.
 In all companies examine the different We examine different forms business
forms of organization organizations, sole proprietorship,
corporations, and limited liability
companies.
One advantage is that it is easy to One advantage is that it is easy to
maintain and organize because the maintain and organize because the
registration procedures are cheap and registration procedures are being
require almost no governmental cheap and require almost no
approval at all. governmental approval at all.
You should always all about proper She knows all about proper trading.
trading.
As a sole propretor you pay less takes. As a sole proprietor you are paying
less takes.
Because of the unlimited liability it is Because of the unlimited liability it is
recommended to choose a good being recommended to choose a good
insurance to avoid personal financial insurance to avoid personal financial
ruin. ruin.

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

coherentemente, en 15 líneas.

It is necessary to know the importance of an appropriate commercial organization

since being well structured does not help to comply with all the established
government requirements. It is necessary that where an organization exists it must
comply with all minimum government regulations where the proprietary knows all
its guarantees.
At the same time, knowing the risks that exporting and importing have, as well as
having advantages, it also has disadvantages, that is why it is good to be up to
date with all legal requirements and the compete with other international markets. It
is important to choose the right form of business organization. In the following
section you can read about the sole proprietorships: in this case, a company that is
owned and operated by one person. One advantage is that it is easy to maintain
and organize because the registration procedures are cheap and require almost no
governmental approval 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 takes. Because of the unlimited liability it is
recommended 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 botón "Ver Evidencia".

2. Adjuntar el archivo el cual debe estar previamente guardado en el equipo.
3. Dejar un comentario al instructor (opcional).

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.