Hans Hoogervorst, Chairman of IASB commented that the "the IASB was wise not to express a general preference for either historical cost on the one hand or for current measurement, or more specifically, fair value on the other hand. Instead, we acknowledge that in many cases mixed measurement is the expected outcome of our standard-setting".

(Historical cost versus fair value measurement, June 2015)

Critically discuss whether different measurement techniques for assets and liabilities provide useful information to users of financial statements.

(25 marks)