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    Evidencia 5: Summary "Export-Import Theory": Presentado Por: LEIDY TATIANA HERNANDEZ

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    Sebastian
    The document discusses different forms of business organization for export-import businesses, including sole proprietorships, partnerships, corporations, and limited liability companies. It explains that a sole proprietorship is owned and operated by one individual, who has total control but also faces unlimited liability. The major advantages of sole proprietorships are that they are easy to organize and manage flexibly, but the major disadvantage is this risk of unlimited liability. The document provides guidance on establishing an appropriate business organization based on factors like the number of owners, capital needs, management structure, and tax treatment.

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    Evidencia 5: Summary "Export-Import Theory": Presentado Por: LEIDY TATIANA HERNANDEZ

    Uploaded by

    Sebastian
    15 views8 pages
    The document discusses different forms of business organization for export-import businesses, including sole proprietorships, partnerships, corporations, and limited liability companies. It explains that a sole proprietorship is owned and operated by one individual, who has total control but also faces unlimited liability. The major advantages of sole proprietorships are that they are easy to organize and manage flexibly, but the major disadvantage is this risk of unlimited liability. The document provides guidance on establishing an appropriate business organization based on factors like the number of owners, capital needs, management structure, and tax treatment.

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    The document discusses different forms of business organization for export-import businesses, including sole proprietorships, partnerships, corporations, and limited liability companies. It explains that a sole proprietorship is owned and operated by one individual, who has total control but also faces unlimited liability. The major advantages of sole proprietorships are that they are easy to organize and manage flexibly, but the major disadvantage is this risk of unlimited liability. The document provides guidance on establishing an appropriate business organization based on factors like the number of owners, capital needs, management structure, and tax treatment.

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    15 views8 pages

    Evidencia 5: Summary "Export-Import Theory": Presentado Por: LEIDY TATIANA HERNANDEZ

    Uploaded by

    Sebastian
    The document discusses different forms of business organization for export-import businesses, including sole proprietorships, partnerships, corporations, and limited liability companies. It explains that a sole proprietorship is owned and operated by one individual, who has total control but also faces unlimited liability. The major advantages of sole proprietorships are that they are easy to organize and manage flexibly, but the major disadvantage is this risk of unlimited liability. The document provides guidance on establishing an appropriate business organization based on factors like the number of owners, capital needs, management structure, and tax treatment.

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    of 8

    Evidencia 5: Summary “Export-import

    theory”

    Presentado por: LEIDY TATIANA HERNANDEZ

    SENA
    Servicio nacional de aprendizaje
    Gestión logística
    2019
    Actividad de aprendizaje 15

    Evidencia 5: Summary “Export-import theory”


    Tener los conocimientos necesarios para realizar un proceso de exportación,
    requiere no solo de manejar habilidades lectoras para comprender las normas y
    pasos a seguir, sino que es necesario saber comprender y extraer los aspectos
    más importantes de cada texto. Sobre el tema existe un buen número de
    materiales en inglés, de los cuales se puede obtener información relevante para 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.

    Sole proprietorships

    1 Belay, S. (2009). Export-Import Theory, Practices, and Procedures. (2a ed.). New York: Routledge.
    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, de por lo menos 15 palabras


    junto con su respectivo significado en español.

    Ingles Español
    Business Negocio

    Appropriate Apropiado

    Attorney Abogado

    Accountant Contador

    Proprietorships Propietarios

    Consulting Consultante

    Establishing Estableciendo

    Accurate Preciso

    Accounting Contabilidad

    Assets Bienes
    Transfer Transferir

    Government Gobierno

    Regulations Regulaciones

    Concerns Preocupaciones

    Income Ingresos

    Liabilities Pasivo

    configuration configuracion

    Flexibility Flexibilidad

    Management administración

    3. Escriba las ideas principales de cada párrafo, ya sea en presente simple o


    presente progresivo, en inglés.

    MAIN IDEAS

    • A business configuration
    • She knows all about the proper trade
    • Normally the company complies with the appropriate requirements
    • It must always be structurally conformed
    • She knows the organization
    • You must always know the minimum governmental regulations
    • He knows the advantages and disadvantages of the unique Owner
    • He does not know the risk of unlimited liability.
    • Know the main disadvantage?
    • He is making an export to Chile.
    • I am filling commercial documents.
    • Now she is working on the configuration of the company
    4. Organice las ideas en un solo resumen, de manera que se conecten
    coherentemente, en 15 líneas.

    To carry out a business configuration it is of the utmost importance that an


    appropriate and structured commercial organization for its creation is new or
    already created, complies with all the required requirements, taking into
    account the structuring of the property and the commercial organization.

    Where there is an organization and above all the minimum governmental


    regulations, where for an owner either alone or in society, it knows all the
    guarantees in front of other commercial concerns of a single owner of a
    company and the main disadvantage of executing an export and import
    concern as the sole owner is the risk of unlimited liability. Showing the
    advantages and disadvantages compared to other types of commercial
    organizations.

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