|Particulars||IFRS||US GAAP||Indian GAAP|
|Discontinued operations – measurement||Measured at lower of carrying amount and fair value less costs to sell||Similar to IFRS||By applying other relevant accounting standards for measurement. For example, by applying accounting standard on impairment of assets, provisions, etc.|
|Discontinued operations –
presentation and main disclosures
|At a minimum, a single amount is disclosed on face of income statement; and further analysis disclosed in notes, for current and prior periods. Assets and liabilities of discontinued operations are presented separately from other assets and
liabilities on balance sheet. No restatement of comparative balance sheet.
|Similar to IFRS
Discontinued and held-for
sale operations are reported as separate line items on face of income statement before extraordinary items.
|At a minimum, the following is disclosed on the face of the income statement separately from continuing operations:
a) pre-tax profit or loss and related taxes
Income and expenses line items from continuing and discontinued operations are segregated and disclosed in the notes; however, presented on a combined basis in the income statement.
No separate presentation for balance sheet items..
Exemption for certain SMEs having turnover or borrowings below certain
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