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The accounting Professions is a important profession in modern business society. In the Era Of Globalization Accounting education has totally changed and new challenges have emerged in this regard. The World Trade Organization reforms call for restructuring of the service sector including the accounting services. Therefore accounting education needs to be given due attention in this emerging scenario. The Information technology and the Globalization of Markets are the two other major governing factors impacting various changes in the accounting education. Accounting as a main subject has been imparted too the students in Higher Secondary, Graduation and Post Graduation level of different Universities/Colleges of the country. But many students are not able to make the application of accounting education in their practical working. Feedback from the students of other institutions like ICAI, ICWA and ACA is challenges and need to provide new skills knowledge to accounting graduate who enter the profession, so that more employment can be created for the students of accounting education for our country. the traditional teaching subject like Management Accounting, Cost Accounting and Financial Accounting, rather it should be replaced with E-commerce and software based accounting curriculum and to improve the content level of accounting and taxation, computer subjects, business report writing, communication skills, problem solving and analylitical skills so as to meet the challenges of change in the Environment of business and industry.