Creative accounting is a legal way to "beautify" the overall image of a company. It is a creative approach to the interpretation of tax regulations that allow it. Often, you can come across legal loopholes that open the way to such actions. Unfortunately, there are also companies that decide to use aggressive accounting. It consists of illegal actions, due to which information about the entity shown to people externally associated with the company is incorrect. They mislead the company's perception, and as a result, can lead the company to financial collapse. One of the purest reasons for using both creative and aggressive accounting is the desire to sell the entity or obtain financing. The article was made characteristics of creative and aggressive accounting. The reasons for its practice in enterprises and its causes and significance were shown.