Craft is presented by the features of independence, durability and intention of income generation. It is defined by the Law of crafts which mentions general and special terms of business, ways of founding, guiding, transfer and discontinuation of crafts. A craftsman who achieves income has to work in accordance with the Law of income. Craftsman can switch from income taxation system to profit taxation system either by the force of the law or voluntarily. After switching he has to work in accordance with the Law of profit. If the craftsman is in the value added taxation system, he has to operate in accordance with the Law of value added tax. Craftsman accounting uses a modified cash register principle. Cash register principle means that receipts and expanditures are registered after the payments have been received and paid. Business books that are used by craftmen are: book of receipts and expanditures, records on the procurement and use od reproductive and consumable materials, records on claims and obligations, a list of fixed assets, book of sales, book of received invoices, book of issued invoices and other records. Retail trade is defined by the Law of trade. Retail trade consists of two fases: procurement of merchandise and sale. Retailers use the same business books as craftsmen, with the exception of records on the procurement and use od reproductive and consumable materials. They must also use retail calculation, the book of list, but recapitulation of sales can be used arbitrarily. The specifics of crafts accounting and retail accounting are applied on craft ''Morski ribolov Doljo'' in practical part of this document.