This article discusses fair value measurement and post-implementation review of IFRS 13 in corporate reporting theory and practice. It also covers prioritizing level 1 inputs or the unit of account. The article provides insights into the valuation measures of Tesco Plc and the limitations of IFRS 13. It also discusses the measures that need to be followed by organizations when complying with IFRS 13 during the preparation of the annual report. The subject covered is accounting and finance, and the course code is not mentioned. The article is relevant for students pursuing a degree in accounting and finance.