|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|
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