Canon ELPH 310 HS has a
12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized BSI-CMOS sensor . On the other hand, Nikon L32 has a
20.0MP 1/2.3 (6.17 x 4.55 mm ) sized CMOS sensor .
Nikon L32's sensor provides 8MP more than Canon ELPH 310 HS's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the ELPH 310 HS and L32 sensor size comparison.
Canon ELPH 310 HS and Nikon L32 have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Canon ELPH 310 HS has 65% larger pixel area compared to Nikon L32, it has potential to collect more light on pixel level hence have less noise in low light / High ISO images.