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?
 Yes, I intend to be the sole owner of the business, because there
are many advantages that help meet the business objectives, to
participate in the export and import of the products to be offered,
of course I must take inquiries of people who have had
experiences with successful companies in this area of interest

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

 no additional capital is required as a sole proprietorship is partly
simple and inexpensive and requires little or no government
approval. According to the experience it is necessary, but
regarding the previous answer, people who have had
experiences with successful companies will be asked to acquire a
better knowledge of the job.
 What legal form provides the greatest flexibility for management?
 The legal form of greater flexibility for management would be:
1. Authentic copy of the public deed or the private document of
constitution, signed by the employer or constituent. The private
document must be recognized by a notary public or presented
personally before the chamber of commerce.
2. Letter of acceptance of the position on the part of the
designated legal representative with indication of the
identification document number, when the administration is
delegated in a person other than the employer.
3. Attach a copy of the Registration Tax payment.
4. Acquire and fill out the Unique Business Registration Form
consisting of a single Business Cover and a commercial
registration annex (business establishment), without erasures or
amendments. When the commercial registration is requested
personally, the original of the identification document must be
presented. Foreigners must present the immigration card or
passport with a business visa.
5. Present a copy of the RUT Format.
6. Fill out the NIT Format.
7. Cancel the value of the registration fees of the Company and
the business establishment.
 What legal form affords the most advantageous tax treatment for the
business concern and individual entrepreneurs?
 the legal personality of the company is the same as that of its
owner, personally answering for all the obligations contracted by
the company.
It has no specific legal regulation, being subject in its business
activity to the general provisions of the commercial code on
 commercial material, to the provisions of the civil code on rights
and obligations.
 Which legal structure is easy and less expensive to establish and subject
to a low degree of government regulation?
 Individual companies are subject to minimal government
regulations against other business concerns. where it is simple
and inexpensive and requires little or no government approval
 How important is it to limit personal liability of owners?
 Yes, because it is a disadvantage since the owner is responsible
for the debts and other responsibilities of the business, so it is
important to limit it, making use of insurance to protect yourself
against these liabilities
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.
___
PALABRA DEFINICION
Export a product that one country makes that is sold in
other countries
Import a product that one country brings in from
another country to be sold
Business the buying and selling of goods or services

Legal Legal is everything related to the law, what is in

accordance with it, as opposed to illegal term, which
is what does not conform to the legal norm
Goal A goal is a desired result that an imagined person or
system plans and commits to achieve: a desired
desired end point in an organization in some
assumed development. Many people try to achieve
goals within a finite time, setting deadlines.
Organization a group of people who work together for the same
purpose
 Inexpensive Economic indicates that it consumes little, low cost.
It derives from the term economics, which is the
science that studies the administration, production,
distribution and consumption of goods and services.
Tax money that you have to pay to the government from
what you earn or when you buy things
Manage manage refers to planning, organizing, directing and
controlling all the resources belonging to an
organization, with the aim of achieving the proposed
objectives.
Owner The owner is the natural or legal person who
exercises the ownership or ownership of an asset.
In other words, it exercises possession and control
over a particular good.
Government it is an adjective that allows us to name what is
linked to the government as the political authority of
a State.
Risk It is the vulnerability or threat to occur an event and
its effects are negative and that someone or
something may be affected by it
Liability Responsibility is the fulfillment of the obligations or
care when doing or deciding something, or a way of
responding, which implies the clear knowledge that
the results of fulfilling the obligations or not, fall on
oneself
Loan A loan is the action and effect of lending, a verb that
refers to giving something to someone else, who
must return it in the future.
Skill | the ability to do
an activity or job well, especially because you have
done it many times

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.
 For a new or existing business, you must find the best legal form or
structure to carry out the business, each organization has its own
advantages and disadvantages, helping the entrepreneur to meet
the business objectives. Proper selection requires accounting and
legal experience, with the advice of an attorney or accountant
  Ownership structure

In this section, we examine different forms of business

organizations: sole proprietorships, partnerships, corporations, and
limited liability companies.
 A company is owned and operated by an individual. a director in
business with control over export and import operations, making
decisions without consulting.
The main advantages of individual companies are as follows:
 Establishing a business as a sole proprietorship is simple and
inexpensive, government approval is low. At the state level the
business name is necessary, at the federal level, owners must
have accounting records and file tax returns. must operate a
calendar year using cash or the accumulation accounting method.
 It is flexible to manage that partnerships or corporations. the owner
makes decisions with the business, can withdraw money or assets
from the company without legal or tax consequences. You can also
easily transfer or terminate the business
 las empresas se sujetan a regulaciones minimas frente a otras
preocupaciones comerciales
 the owner is taxed as an individual, at a lower rate than the tax, he
can apply business losses to offset taxable income from other
sources, he also establishes tax-exempt retirement accounts.
(Harper, 1991; Cheeseman, 2006a)
 the downside is the risk of unlimited liability. the owner is
responsible for the debts and responsibilities of the business.
buying insurance to protect liabilities; however, it is not enough to
cover liability for defective products or debts, the next thing
creditors do is personal assets. Another would be that the capital is
limited to personal funds and another loan that can be obtained.
very few people have the ability to run a business in this area. the
business can also end in case of death or disability of the owner

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

establishing a business requires a establishing a business requiring a
competent attorney or accountant competent attorney or accountant
there is a section where business there is a section where business
 organizations are examined organizations are being examined
A sole proprietorship is operated by an A sole proprietorship is operating by an
individual individual
the export and import company is easy The export and import company are
to organize and control easy organizing and controlling
the owner makes all the business the owner is making all the business
decisions decisions
the business owner must pay income the business owner must be paying
taxes income taxes
all the disadvantages of the company all the disadvantages of the business
fall on the owner is falling on the owner

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

coherentemente, en 15 líneas.

Establishing a business requires a competent attorney or accountant, with the

legal form or structure determining how the business will be conducted, your tax
liability, and other important considerations. There is a section where business
organizations such as sole proprietorships, partnerships, corporations, and
limited liability companies are examined. Where a sole proprietor is operated by
an individual and has full control over all export and import operations and who
can make decisions without consulting anyone. Since the export and import
company is easy to organize and control, it is simple and inexpensive and
requires little or no government approval, knowing that the owner makes all
business decisions, can withdraw money or other assets from the company
without legal consequences or prosecutors. the business owner must pay
income taxes and all the disadvantages of it fall on the owner.

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.