IASB (2011)requires revenues to be measured in terms of historical cost to improve reliability.

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According to IASB's Revenue from Contracts with Customers standard (IFRS 15), revenue must be measured at the fair value of the consideration received or receivable, which may not always be equal to historical cost. The objective is to provide a more faithful representation of the revenue earned and the performance obligations fulfilled.

IASB (2011)requires Revenues to Be Measured in Terms of Historical