in IAS 16 - Property, Plant and Equipment by
We have some special machinery in our balance sheet as an asset and can we change from cost model to revaluation model in IAS16?

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by Level 2 Member (3.8k points)
Yes, You can change the machinery from cost model to revaluation model and move the asset from carrying value to fair value less accumulated depreciation and impairment.  Moreover, the fair value must be measured reliably and there is no substantial difference between carrying value and fair value. The revaluations must be conducted regularly.
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Should the change done retrospectively?

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