Abstract: In the conditions of an accelerated increase of the inflation rate last year and the current geopolitical pressures, a problem arises as to whether using the most relevant measurement basis reflecting economic reality and supporting decision-makers in the decision-making process. This paper analyzes the controversies regarding the effect of measuring items in the financial statements based on historical cost over current value, with an emphasis on fair value. In this respect, referring to a series of theoretical information and examples of the use of the two measurement bases and also a content analysis, we sought to determine which of the two measurement bases is the most relevant for a true and fair view, the consequences of the use of historical cost/fair value on the quality of financial information and on the true and fair view and the measurement methods that are preferred by Romanian listed companies. The achieved results indicate that the choice between historical cost and fair value can be seen as a compromise between relevance and faithful representation, in practice the tendency to resort to a mixed measurement model being shaped over the years, generally resulting by combining the historical cost with fair value. This trend was also confirmed in the case of Romanian companies listed on the Bucharest Stock Exchange, a slight transition from the exclusive use of historical cost to the use of historical cost along with fair value and in certain cases to a balance between the two analyzed measurement bases was observed.