The “Internet +” brings opportunities and challenges for the current accounting education. Undergraduate accounting educators in universities must timely grasp the pulse of the development of the “Internet +”, continue to promote the concept innovation, target optimization and model change in traditional accounting education, actively follow the development trend of undergraduate accounting education. Based on the current undergraduate accounting education theory research status and prospect, this paper first analyzes the impact of “Internet +” on the undergraduate accounting education in universities, secondly explores the dilemma of the undergraduate accounting education in the era of “Internet +”. On this basis, the reform of underground accounting education in Chinese universities and colleges is studied in the era of “Internet +”, with the aim to promote the theory development of undergraduate accounting education in China.