SERGIO ANDRÉS COLORADO GIRALDO.

FICHA: 1966021.

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. Advantages: Circumstance or situation that gives superiority in something.

Ventajas: Circunstancia o situación que da superioridad en alguna cosa.

2. Disadvantages: Circumstance of being worse or being in a worse situation one thing

with respect to others of the same nature with which it is compared. Less favorable
situation in which a person or thing is with respect to others with which it is compared.

Desventajas:Circunstancia de ser peor o estar en peor situación una cosa respecto a otras
de la misma naturaleza con la que se compara. Situación menos favorable en que se halla
una persona o cosa respecto a otras con las que se compara.

3. Attorney: Person legally authorized to advise and defend the rights and interests of
another person in legal matters and represent it in a lawsuit.
Abogado: Persona legalmente autorizada para asesorar y defender los derechos e
intereses de otra persona en materia jurídica y representarla en un pleito

4. Without: Indica falta o carencia de alguna cosa material o inmaterial.

Sin:. Indicates lack or lack of something material or inmaterial.

5. Proprietorships: Property rights In the right, the domain or property, is the direct and
immediate power over an object or good, by which is attributed to its owner the ability to
dispose of it, without further limitations than those imposed by law.

Propietarios: Derecho de propiedad, en el derecho, el dominio o propiedad, es el poder

directo e inmediato sobre un objeto o bien, por la que se atribuye a su titular la capacidad
de disponer del mismo, sin más limitaciones que las que imponga la ley.

6. Returns: The return is the act of giving something back to someone. It is a process that
is based on a right of possession of a certain person with respect to a certain good that
was delivered with some type of specific objective.

Devoluciones: La devolución es el acto de entregar algo nuevamente a alguien. Es un

proceso de se sustenta en un derecho de posesión de una determinada persona con
respecto a un determinado bien que fue entregado con algún tipo de objetivo específico.

7. Applied: That puts effort and interest.

Aplicado: Que pone esfuerzo, interés

8. Loans: A loan is an operation by which a financial institution puts at our disposal a

certain amount of money through a contract.

Prestamos: Un préstamo es una operación por la cual una entidad financiera pone a nuestra
disposición una cantidad determinada de dinero mediante un contrato.

9. Skills: The ability is the innate aptitude, talent, skill or ability that a person holds to carry out
and of course with success, certain activity, work.
Habilidades: La habilidad es la aptitud innata, talento, destreza o capacidad que ostenta
una persona para llevar a cabo y por supuesto con éxito, determinada actividad, trabajo

10. Losses: Small amount of blood or discharge from the womb that is abnormally
expelled outside of the menstrual period.

Pérdidas: Cantidad pequeña de sangre o flujo procedente de la matriz que se expulsa

anormalmente fuera del período menstrual.

11. Upon: Heritage prefix of Latin origin that enters the formation of names with the
meaning of 'above', 'besides'.
Sobre: Prefijo patrimonial de origen latino que entra en la formación de nombres con el
significado de ‘por encima de’, ‘además de’.

12. Judgment: Faculty of understanding, by virtue of which man can distinguish good from
evil and true from false.

Juicio: Facultad del entendimiento, por cuya virtud el hombre puede distinguir el bien
del mal y lo verdadero de lo falso.
13. Income: Amount of money earned or collected.
Ingreso: Cantidad de dinero ganada o recaudada.

14. Little: That has a smaller size than normal.

Pequeño: Que tiene un tamaño menor de lo normal.

15. Sole: It applies to one or several things of which or of whose species

there are no others.
Único: Se aplica a una o varias cosas de las cuales o de cuya especie no hay otras.
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.

MAIN IDEAS

 How to carry out a business.

 There are different forms of commercial organizations.

 The director controls all export and import operations.

 The sole proprietors are simple and low in costs.

 The owners are in charge of making all the decisions.

 The owners are responsible for their business.

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

How to carries out a business How to carriesing out a business
There´s are differents forms of commercial There's are differenting forms of
organization commercial organizations
The sole proprietors are simple and lows The sole proprietors are simple and low in
in costs costsing
The owners are in charges of make all the The owners are in charge of making all the
decisions decisions
The individual companies are The individual companying are
governamental governamental

The individual owners have a lower rate The individual owners having a lower rate
than the tax rate
 than the tax rate

The owners are responsible for their The owners are responsible for their
business business

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

en 15 líneas.

How to carry out an export and import business, in different forms of commercial
organizations since the director controls all export and import operations, where the
sole proprietors are simple and low in cost and make all the decisions in front of the
business. Individual companies are governmental and have a lower rate than the tax
rate, thus carrying the responsibility of the business

Knowing well that each legal form in which the company has its legal bases will
apply a better export or import in order to provide the company with better quality
and good recognition at the international level and to conquer or reach large
countries for its advertising and industry growth.

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.