According to OMFP 1802/2014, in the case of construction works, revenue recognition is made on the basis of the act of receipt signed by the beneficiary, certifying that the contractor has fulfilled his obligations in accordance with provisions of the contract and the execution documentation.
The countervalue work not accepted by the beneficiary by the end of the period shall be registered at cost, in account 332 “Services in progress”, on account 712 ‘Revenue relating to costs of services in progress’ services”