In today's dynamic and volatile markets, whether it is to buy or sell, investors need to know what an asset is currently worth, rather than what it was worth when it was acquired. As a result, with today’s unpredictable market conditions, it seems like the fair value is the answer. Being the subject of the latest reviews of international standards, we consider the fair value accounting, in general and fair value accounting of financial instruments in particular, to be the most important ones. In this context, the paper provides answers to questions such as: Is the fair value the absolute solution for the financial instruments measurement? How can the fair value be measured? How fair is the fair value? All answers and solutions are supported by case studies regarding the fair value measurement of the financial instruments, including models of valuation techniques.