SERVICIO NACIONAL DE

APRENDIZAJE (SENA) GESTIÓN

LOGÍSTICA (1704413) BOGOTÁ,
2019

Evidencia 5:
Summary “Export-
import theory”
Actividad de aprendizaje 14

BORRERO MARTINEZ OTTO

FONSECA GUERRA YULIETH ANDREA
BERNAL BERNAL JENNY ALEXANDRA
 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

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

1. Sole proprietorship: A company, owned by one, single person.

2. Accrual Method: revenues are reported on the income statement when they are earned
3. Assets: All the buildings, properties, cars and stuff that belongs to the company.
4. Partnerships: When 2 or more people, own the same company.
5. Entrepreneur: from the French, it is referred as someone who starts his own business
and do everything to make it succeed.
6. Debts: all the money that is owed by the company to their suppliers or to their
customers.
7. Insurance: Protection provided by another company to the help the company to cover
their losses or accidents.
8. Disadvantage: Problems to run a sole proprietorship import-export
9. Unlimited liability: as a sole proprietorship the owner of the company is the only
responsible for the debts of the company, limiting the liability of the company.
10. Owner: The person who created and runs the company
11. Accounting: the record of all the numbers of the company, this work must be done by
an accountant
12. Liabilities: what the company is responsible for.
13. Skills: what a person do best.
14. Tax Rate: the number the states calculates, to charge the owners of enterprises to pay
at the end of the taxable year.
15. Creditors: usually, banks, that loan money to the company

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

There is only one owner for a sole
proprietorship
The S.P is required to complete some
procedures.
The SP is easier to control
They are less controlled by government
Taxes are lower for the SP
The owner and owner assets are responsible
for the enterprise
The sole proprietorship is going to be owned
by one single person.
The SP is going to be required some
procedures.
The SP is going to be easier to control
The Government is controlling less the SP
taxes are going to be lower for a SP
The owner and his assets are going to be
responsible for the company liability

5. Organice las ideas en un solo resumen, de manera que se conecten coherentemente, en 15

líneas.

This text talks about the advantages and the only disadvantage of creating a sole
proprietorship import/export company.
The principal good reason to create a sole proprietorship is that you are the only person that
runs the company, so that way you avoid meetings, arrangements between partners. Plus the
fact that you pay less taxes and you are not going to be controlled that much by the
government.
On the other side, the major disadvantage of being the only owner of the company, is that
you are going to be responsible for all the losses of the sole proprietorship, meaning that if
your company can not cover her losses, the judge creditors are going to be looking for your
personal assets to help cover the company losses, which can lead you to bankruptcy, and end
up living in the street. So for me, I rather be on a partnership or a corporation.

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.