completed contract method

CFA Level I
#1

Can I clarify one point, under US GAAP, if the profit cannot be reliably measured, we can use completed contract method

Under IFRS, we cannot use completed contract method and we can recognized the revenue and expense each year and profit at the final year, what is the name of this method?

#2

Unofficially “cost recovery” - IFRS doesn’t specifically provide a name:

IAS18.26:“When the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue shall be recognised only to the extent of the expenses recognised that are recoverable.”