Craft is one of the organizational forms o business operated by a person called a craftsman. Craft can be opened by almost anyone, there are three types of crafts: free, tied and privileged. The type of crafts depends on the professional competence of the craftsman and the activity in which he is engaged. The craftsman must have passed a master's examination for the related trades or employed at least one person qualified for a particular activity. In the case of privileged trades, the competent Ministry issues a privilege, which relates to activities such as fishing and mining. The most important institution for craftsmen is the Chamber of Crafts, which greatly helps craftsmen in their business. The craft is entered in the Craft Register by registering on the prescribed form. Thereafter, the Chamber of Crafts shall issue an Excerpt from the Register of Crafts and a Craftsman or Privilege, and then the craftsman may commence business no later than one year after the statement is issued. Craftsman accounting is based on simple bookkeeping. As taxpayers of income tax, they are not obliged to keep a double entry or general ledger. All other analytics are the same as with companies. A craftsman does not necessarily have to be a taxpayer of income tax, he can still choose between income tax and lump sum taxation. The craftsman is guided by the cashier principle. This means that business events are recorded in the income statement when they are realized or when cash inflows or outflows occur. The obligatory books of account that a craftsman must keep are a book of receipts and expenses, a book of turnover, records of receivables and payables, and a list of fixed assets.