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Abstract
India is a now a country to adapt the IFRS with convergence. The study is targeted to find the difficulties in convergence with IFRS for technology sector. The perceptions of chartered accountants are examined to check the difficulty level. The paper focuses on financial reporting problems faced in implementing the IFRS by administering a structured questionnaire to chartered accountants working in information technology sector. The study also examines the affects of individual independent variables like age, gender and experience on the difficult areas. The result of the study shows the most difficult areas depicted by the chartered accountants are joint ventures, business combinations, share based payments, acquisition accounting for deferred taxes, segment reporting and hedge accounting mainly. More insights are needed in the resulting areas to bring more proficiency in convergence with IFRS.