Tecnología en Gestión Logística Ficha: 2104741 Evidencia 5: Summary “Export-import theory” INSTRUCTOR Gabriel Jaime Toro Hincapie APRENDIZ Brayan Alejandro Hernández Restrepo Servicio Nacional de Aprendizaje (SENA) Complejo Tecnológico Agroindustrial Pecuario y Turístico Regional Antioquia. 2021 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 exportimport 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? R// It is not about having the intention of being the sole owner of the company in case of export and import, but there are companies that use this method and they are sole proprietorships. Does the entrepreneur need additional capital and/or expertise? R// The entrepreneur needs to have experience What legal form provides the greatest flexibility for management? R// The sole proprietorship structure What legal form affords the most advantageous tax treatment for the business concern and individual entrepreneurs? R// The individual entrepreneur way Which legal structure is easy and less expensive to establish and subject to a low degree of government regulation? R// The structure of sole proprietorships How important is it to limit personal liability of owners? R// The importance is to protect the company against possible debts or obligations o Which legal structure is the most appropriate in light of the goals and objectives of the export-import business? (Belay, 2009). R// The structure of the sole proprietorship 2. Elabore una lista de vocabulario sobre el texto, mínimo de 15 palabras y escriba su respectivo significado en inglés. Words Meaning Major Importante Liability Responsabilidad Section Sección Lack Falta However Sin embargo Insurance Seguro Debts Deudas Cover Cubrir Recourse Recurso Risk Riesgo Owner Dueño Death Muerte Disability Discapacidad Taxed Gravado Rate Velocidad 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 Method to start a business There are different types of business 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 individual companies are governmental The individual owners have a lower rate than the tax rate Present Progressive Tense Methods for them to be putting a business in place Different types of business organizations are emerging The director is controlling all export and import operations Sole proprietors are being simple and inexpensive. The owners are being in charge of making all the decisions. Individual companies are being government Individual owners are having a lower rate than the tax rate. 5. Organice las ideas en un solo resumen, de manera que se conecten coherentemente, en 15 líneas. How to conduct an export and import business is very important for the company considering the different types of business organizations, since, the director controls all the export and import operations within the processes, where individual owners are simple and low cost, thus, taking all the decisions in front of the company. Individual companies are governmental and have a lower rate than the tax rate, thus carrying the responsibility of the business. We know that each legal form in which the company has its legal bases will apply different processes so you should know what to implement to lead to have a greater knowledge and not have legal consequences in the future in the environment, even with a single administrator or chief immediately co-author of all legal aspects of health and taxes for better export or import in order to provide the company with better quality and good recognition internationally and to conquer or reach large countries for their advertising and growth of the industry. 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. 2. 3. 4. Clic en el título de la evidencia. Clic en Examinar mi equipo y buscar el archivo previamente guardado. Dejar un comentario al instructor (opcional). 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.
