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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.

1. taxliability:
It is the set of administrative actions carried out by the Comptrollerships in order to determine
and establish the responsibility of public servants and private individuals, when in the exercise of
fiscal management or on the occasion thereof, caused by action or omission
2. entrepreneur:
owner or executive of a company
3. appropriate business:
the correct order of the resources and precise functions to satisfy the objectives of any business
4. Ownership structure
examine different forms of business organizations: sole proprietorships, partnerships,
corporations, and limited liability companies.
5. Sole proprietorships:
A sole proprietorship is a firm owned and operated by one individual. No separate legal entity
exists
6. government approval
approval that something is right and legal for the government
7. assets:
Set of properties or riches that belong to a person or group
8. tax rate
It is a tax that records the usefulness of people, companies, or other legal entities
9. export:
are the set of goods and services sold by a country in foreign territory for its use
10. import:
they can be any product or service received within the border of a State for commercial purposes.
11. legal structure
represents the way the company is organized
12. owners
has the property of one thing, especially of a real estate
13. 1advantageous tax
Accounting treatment for investments with special treatment
14. capital
they are the goods and rights less the debts and obligations, of which the capitalist is the owner.
15. Management

Set of functions that are made to manage (govern, organize an economy)

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.

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


Each form of business organization has Each form of business organization is
its own advantages and disadvantages. having its own advantages and
disadvantages.
A sole proprietorship is a firm owned and A sole proprietorship is being a firm
operated by one individual. owned and operated by one individual.
Sole proprietorships are easy to organize Sole proprietorships are being easy to
and simple to control. organize and simple to control.
Sole proprietorships are more flexible to Sole proprietorships are being more
manage than partnerships or corporations. flexible to manage than partnerships or
corporations.
Sole proprietorships are subject to minimal Sole proprietorships are being subject to
government regulations versus other minimal government regulations versus
business concerns. other business concerns.
The owner of a sole proprietorship is taxed The owner of a sole proprietorship is
as an individual, at a rate lower than the being taxed as an individual, at a rate
corporate income tax rate. lower than the corporate income tax rate.

The major disadvantage of running an The major disadvantage of running an


export-import concern as a sole export-import concern as a sole
proprietorship is the risk of unlimited proprietorship is being the risk of
liability. unlimited liability.

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


coherentemente, en 15 líneas.

Each form of business organization has its own advantages and disadvantages. For
example, a sole proprietorship, which is a form of business organization where a firm is
owned and operated by one individual, has the following advantages: firstly, sole
proprietorships are easy to organize and simple to control as they are inexpensive and
requires little or no government approval. Secondly, they are more flexible to manage
than other forms of business organizations such as partnerships or corporations because
the owner is the one that makes all operational and management decisions concerning
the business. Thirdly, they are subject to minimal government regulations versus other
business concerns. Lastly, the owner of a sole proprietorship is taxed as an individual, at
a rate lower than the corporate income tax rate and the proprietor is also allowed to
establish tax exempt retirement accounts. It can be noticed that sole proprietorships have
many advantages, however; they also have some disadvantages. For example, the major
disadvantage is the fact that running an export-import concern as a sole proprietorship is
the risk of unlimited liability; specifically, the owner is personally liable for the debts and
other liabilities of the business.

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.