Accounting (Accounting)-basics, types, methods, concepts To start any business activity that requires registration with the tax authority, individuals or legal entities must organize accounting. It is understood as the fixing, calculation and analysis of any transaction related to money, property, and any asset in a certain activity. Therefore, as an individual entrepreneur and working alone, you have to calculate income and expenses, determine the amount of income tax and contributions to social funds. The organization’s accounting includes fixing all operations: paying bills, purchasing raw materials or commodities, transferring wages, etc., up to taxes.