Particulars IFRS US GAAP  Indian GAAP
Revenue Recognition Based on several criteria, · which require the recognition of revenue when risks and rewards and control have been transferred and the revenue can be measured reliably. Similar to IFRS in principle, based on four key criteria. Extensive detailed guidance exists for specific types of transactions. Similar to IFRS; conceptually, although several differences in detail
Construction contracts Accounted for using percentage of completion method. Completed contract method is prohibited Similar to IFRS; however, completed contract method is permitted in rare  circumstances. Similar to IFRS. 
Multiple-element contracts No detailed guidance for multiple- element transactions exists. Arrangement with multiple deliverables are divided into separate units of accounting if deliverables in arrangement meet specified criteria outlined in EITF00-21. Specific guidance exists for software vendors with multiple- element revenue arrangements Similar to IFRS.