The US Financial Accounting Standards Board does not allow revaluation of non-current assets to fair value, but it does make it compulsory to account...

The US Financial Accounting Standards Board does not allow revaluation of non-current assets to fair value, but it does make it compulsory to account for the impairment costs associated with non-current assets as per FASB Statement No. 144 Accounting for the Impairment or Disposal of Long-Lived Assets.

What implications do you think these rules have for the relevance and representational faithfulness of US corporate financial statements?