Current value measurement bases are measurement bases used in financial reporting that measure the elements of financial statements at their current value. According to the conceptual framework for financial reporting, current value measurement bases reflect the current market value of an item, and are used to provide users with relevant and reliable information about an entity's financial position and performance.

There are several current value measurement bases that can be used, including:

1. Fair value: This is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
2. Value in use: This is the present value of the estimated future cash flows expected to be generated by an asset or a cash-generating unit.
3. Net realizable value: This is the estimated selling price of an asset, less any estimated costs of completion, disposal, and transportation.
4. Replacement cost: This is the cost of replacing an asset with an identical or similar asset in the current market.

Overall, current value measurement bases are important in financial reporting, as they provide users with relevant and reliable information about an entity's financial position and performance. By using current value measurement bases, entities can ensure that the elements of their financial statements are recorded and reported at their current market value, which can help users make informed economic decisions.

Here is an example of a current value measurement:

Let's say a company has a portfolio of investment securities that includes a stock that was purchased for $1,000. At the end of the reporting period, the market price of the stock has increased to $1,500.

To measure the investment security at fair value, the company would record the following:

Investment securities (asset) $,500

Unrealized gain on investment securities (income) $500

By recording this journal entry, the company is measuring the investment security at its current market value, or fair value. The difference between the fair value and the original cost of the security is recognized as an unrealized gain on the statement of comprehensive income.

It is important to note that the choice of measurement basis may vary depending on the specific circumstances of the entity and the item being measured. In this example, fair value was used as the measurement basis, but other current value measurement bases could have been used instead, depending on the nature of the investment security and the specific accounting standards being followed.