Simulation of ice shed into a multistage axial compressor involves a coupled two phase flow of a continuous phase comprising of air and water vapor and a discrete phase with ice crystals and water droplets. A first principles based discrete phase model is formulated to capture the heat and mass transfer processes of ice flow in air. A quasi one-dimensional model is used to represent the continuous phase. An exchange of information at every time step between the two models leads to a coupled response that alters characteristics like temperature and pressure distributions across the compressor. However, an understanding of the impact of various assumptions used for modeling of the icing physics is imperative in order to establish the fidelity of the developed icing model, before its use in gas turbine engine ice ingestion studies. This paper describes the assumptions and semi-numerical models used in the coupled discrete-continuous phase flow numerical models. The input characteristics of the discrete phase related to the size and distribution of ice crystals, the assumed percentage of ice particles escaping through compressor bleed ports, simplifications associated with ice and droplet breakup on impact with compressor blades, moisture content affecting the dry air properties, are some of the factors that are variables in the icing study. The impact of these factors on the compressor flow dynamics is estimated through a parametric analysis.