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Harmonized of the Romanian Accounting System with the International Accounting Standards. Accounting for Construction Contracts (IAS 11). The  standard deals with the accounting treatment of construction contract revenue and costs, with a focus on:

·  Proper matching of contract revenue and related costs.

·  The allocation of contract revenue and costs to the accounting periods in which construction work is performed.

The standard is applied those construction contracts of which the dates of contracting and of completion typically fall in different accounting periods. They include contracts for:

·  Rendering of services

·  Destruction or restoration of assets and the restoration of the environment.