|Particulars||IFRS||US GAAP||Indian GAAP|
|Depreciation||Allocated on a systematic basis to each accounting period over the useful life of the asset.||Similar to IFRS.||Similar to IFRS, except where the useful life is shorter as envisaged under the Companies Act or the relevant statute, the depreciation is computed by applying a higher rate|
|Interest expenses||Recognised on an accrual basis using the effective interest method.||Similar to IFRS.||Recognised on an accrual basis; practice varies with respect to recognition of discounts and premiums.|
|Employee benefits: pension costs- defined benefit plans||Projected unit credit method is used to determine benefit obligation and record plan assets at fair value. Actuarial gains and losses can be deferred.||Similar to IFRS but with several areas of differences in the detailed application.||With the. adoption of to AS 15 (revised), similar to IFRS, although several differences in detail. Eg, actuarial gains and losses are recognised upfront in the income statement.|
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