The aim of this final paper is to define and explain the specifics of accounting of craftsmen and accounting of entrepreneurs and based on the presented facts to define and explain the relationship and differences between these two forms of accounting. The paper is based on a theoretical analysis of the accounting of craftsmen who may be in the system of income tax or in the system of profit tax. Craftsmen liable for income tax are much more common in practice than craftsmen in the profit system, so more emphasis is placed on craftsmen in the income tax system. In addition to craftsmen liable to pay income tax, the paper also mentions the flat-rate taxation of craftsmen, as well as the role of the value added tax system in their business. The paper also lists the types of crafts that operate in Croatia. The business of craftsmen is determined by a number of laws which, among other things, determine the business books of craftsmen. The paper is also based on a theoretical analysis of the accounting of entrepreneurs who are always subject to corporate income tax and are most often in the value added tax system. Although in Croatia we distinguish several types of legal organizational forms of business, the most common legal organizational forms are a joint stock company, a limited liability company and a simple limited liability company. The paper presents normative forms of regulation of company operations and explains the influence of regulators on the operations of companies themselves. The business books and financial statements that companies are required to keep and prepare for a certain accounting period are also listed. Based on the presented facts on the accounting of craftsmen and the accounting of entrepreneurs, the paper also states certain conclusions that explain the connections and differences between the accounting of craftsmen and the accounting of entrepreneurs.