Accounting for long-lived assets differs between U.S.Generally Accepted Accounting Principles (GAAP) and International FinancialReporting Standards (IFRS).

(1) Describe one way in which accounting for long-livedassets differs between GAAP and IFRS.

(2) When two companies in the same industry use differentvaluation methods, discuss the implications for a financial analyst.

(3) What adjustment(s) could an analyst make, in order tocompare companies applying different accounting principles?