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.

1) How should the recoverability of the carrying amount of property, plant & equipment be accounted for?

2) How should any revaluation surplus from a revalued asset be treated if the revalued asset is disposed of?

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

4) Explain the effect on the companys 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?

**(please write the references that used to search this topic.)

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