Particulars IFRS US GAAP  Indian GAAP
Related-party transactions
– definition		 Determined by level of direct or indirect control, joint control and significant influence of one party over another or common  control by another entity.
 		 Similar to IFRS Similar to IFRS; however,  The determination may be based on legal form rather than substance.

Hence, the scope of parties covered under the
definition of related party could be less than under
‘ IFRS or US GAAP
Related-party transactions – disclosures Name of the parent entity is disclosed and, if different, the ultimate controlling
party, regardless to
whether transactions occur. For related-party transactions, nature of relationship (seven categories), amount of transactions, outstanding balances, terms and types of transactions  are disclosed.

Some exemptions  available for separate financial statements of subsidiaries.

 Similar to IFRS. Exemptions are narrower than under IFRS. Similar to IFRS. However,  certain explicit  exemptions available for disclosures.

Exemption for certain SMEs having turnover or borrowings below certain threshold. No exemption for separate financial statements of subsidiaries
Segment reporting­ scope and basis of formats Public entities: primary and secondary (business and geographic) segments are reported based on risks
and returns and internal
reporting structure.		 Public entities (SEC registrants): reported based on. Operating
segments, which are based
.on manner in which chief operating decision-maker evaluates financial information for purposes of allocating resources  and assessing performance		 Similar to IFRS.

Exemption only for certain SMEs having turnover  or borrowings below certain threshold.