One of the main differences between U.S. GAAP and IAS/IFRS is the measurement of property, plant & equipment subsequent to initial recognition. Read IAS 16 and answer the following questions. Provide...

One of the main differences between U.S. GAAP and IAS/IFRS is the measurement of property, plant & equipment subsequent to initial recognition.  Read IAS 16 and answer the following questions.  Provide a list of the references you have used to search this topic.

What additional disclosures should be made if property, plant & equipment are stated at revalued amounts?

Explain the effect on the company’s financial statements if a company switches from the historical cost principle to the revaluation model?  How should this change be accounted for in the financial statements?