This report provides a comprehensive overview of the issues and challenges associated with cloud computing. It begins with an introduction that highlights the transformative impact of cloud technology across various industries, emphasizing its influence on the IT sector and organizational structures. The report delves into the definition of cloud computing, as defined by NIST, and discusses its key elements, including resource pooling, rapid elasticity, and on-demand self-service. It explores various service models, such as Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Data Storage as a Service (DaaS), providing examples for each. The report then addresses the challenges faced in cloud adoption, including security concerns, cost models, charging models, Service Level Agreements (SLAs), service migration, and interoperability issues. It emphasizes the importance of security, the impact of cost factors, and the need for effective SLAs. Furthermore, the report discusses interoperability challenges, vendor lock-in, and the integration of cloud services. The conclusion summarizes the key findings and emphasizes the need for addressing these challenges to fully leverage the benefits of cloud computing. The report includes references to relevant academic papers to support its analysis.