This article argues the new approach in bringing about major economicsufficiency within the community enterprises in terms of accounting and taxation. It accentuates the main economic sufficiency with practice guidelines, and the benefits and forms of community enterprises. In the matter of income tax payment, the survey features personal income tax allowances and deductions for a partnership or group of persons other than corporations. In addition, it also discusses the reporting of cash, revenue and expenditure by two methods. As a consequence, the economic sufficiency principles contribute maximum benefit in developing countries and bolster people in earning a better income as well as being employed in the form of an enterprise integration with the community.