After the game-changing innovation of the blockchain technology in 21st century, the impact on financial accounting sector was revolutionizing, The introduction of blockchain technology in central authorities helps the authorities by automating them, This system helps the central authorities significantly because before the innovation of this system the financial accounting has been burdened by inefficiencies such as manual data entry, high transection costs, and lack of transparency, The current study aims to identify the impact of blockchain technology on financial accounting practices, For this purpose the mixed method approach was used, A questionnaire was developed for quantitative analysis and face to face interview were conducted for qualitative analysis, Regression analysis and descriptive statistics were employed for quantitative data analysis and for qualitative thematic analysis was done, The findings from the quantitative data set suggests that the mixed responses from professionals underscore the promise that blockchain technology holds but also the significant hurdles it faces in widespread implementation, These challenges, including lack of knowledge, organizational resistance, training and regulatory hurdles, must be addressed before blockchain technology can’t be integrated into financial accounting practice.