Liberalization and globalization of the Indian economy has thrown new challenges before the academicians, researchers and professionals and the emerging challenges have forced them to join hands with each other in providing accounting education in India. Development in global accounting is the burning challenge globally including India. The growth of multinational firms and international business has given impetus to international co-operation in the setting of international accounting standards. Research in accounting sponsored by accounting associations or individuals has had a salutary effect in raising the general level of accounting. Sociological, technological and economic changes have considerably affected the accounting practice and accounting thought. These changes have felt the necessity of integration of accounting education, research and practice. This paper is a modest attempt in this direction and examines the useful interrelation between the three functions and identifies the gaps. The desirable linkages are required to be established by all concerned.
