|Particulars||IFRS||US GAAP||Indian GAAP|
|Acquired intangible assets||Capitalized if recognition except criteria are met; amortized over useful life. Intangibles
assigned an indefinite useful life are not amortized but reviewed at least annually for impairment.
Revaluation are permitted in rare circumstances
|Similar to IFRS , except revaluation are not permitted||Capitalized if recognition
criteria are met; all intangibles are amortized over useful life with a rebuttable presumption of
not exceeding 10 year.
Revaluation are not permitted
|Internally generated intangible assets|| Research costs are expensed as incurred. Development, costs are
capitalized and amortized only when specific criteria are met.
|Research and development costs are expensed as incurred. Some software and website development costs are capitalized.||Similar to IFRS.|
|Property, plant and equipment||Historical cost or revalued amounts are used. Regular valuations of entire classes of assets are required when revaluation option is chosen||Historical cost is used; revaluations are not permitted||Historical cost is used.
Revaluations are permitted, however, no requirement
on frequency of revaluation.
On revaluation, an entire class of assets is revalued, or selection of assets is made on a systematic basis.
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