: Accountants face issues when they are accounting for international transactions in the books of accounts. We see that in the recent times the needs of the people are manifold. With the growing population, the demands of the people are increasing. To meet the growing needs, the companies might have to cross the borders of their countries to get sufficient supply. This gives rise to new opportunities thereby, increasing trade between different companies in different countries. Companies are engaging in buying and selling of products from companies in other countries. Also companies are providing services to companies located in other countries. The increase in the number of transactions worldwide has brought the world closer. Today as a result of so many global opportunities, companies are tapping the world markets to meet their funding requirements, getting listed in security markets in different countries and increasing their brand value on the international arena by having presence in many countries