Based on your review of the IAS 16 Property, Plant and Equipment Summary which is a summary of the IFRS adoption of IAS 16 mentioned in the Cases in Financial Reporting 7th Edition text page 105, discuss the following:
The valuation of plant and equipment to allow for fair market value will be reference to IFRS IAS 16. Does the standard differ from GAAP valuation? Do you see this debate getting settled soon? Please take a side and defend your position.
Your answer should follow the scoring guide and be at least 250 words in length. Peer reviewed journal articles always make a great defense for the position presented