Measurement bases fall into historical cost and current value. Historical cost measures draw, at least partly, on the price of the transaction or event that created the item, and are updated over time for consumption, impairment, interest accretion or fulfilment; amortised cost is a historical cost measure for financial assets and liabilities. Current value measures are refreshed to conditions at the measurement date: fair value (what market participants would pay or receive in an orderly transaction on that date, seen from their perspective), value in use (assets) and fulfilment value (liabilities), being the discounted cash flows the entity itself expects, an entity-specific perspective, and current cost (what an equivalent asset would cost, or what would be received to take on an equivalent liability, both as at the measurement date: an entry value). Each basis gives different information about the statement of financial position and financial performance.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.