Particulars IFRS US GAAP  Indian GAAP
Definition of associate Based on significant influence; presumed if 20% or greater interest or participation in entity’s affairs. Similar to IFRS, although the term ‘equity investment is used instead of ‘associate’. Similar to IFRS, exemptions similar to non-consolidation of subsidiaries.
Presentation of associate results  In consolidated financials: equity method is used. Share of post-tax  results is shown. In consolidated financials: similar to IFRS.
In standalone financials: at cost or equity method is used. 
In consolidated financials: similar to IFRS.
In Standalone financials: at cost less impairment.
Disclosures about significant associates Detailed information on significant associates’ assets, liabilities and results is required. Similar to IFRS. Certain disclosure are required for all associates; however, detailed information on significant associates is not required