Let ω be a Morse form on a closed connected manifold M . Let p :x M Ñ M be a regular covering with structure group G, such that p ˚prωsq " 0. The period homomorphism π1pM q Ñ R corresponding to ω factors through a homomorphism ξ : G Ñ R. The rank of Im ξ is called the irrationality degree of ξ. Denote by Λ the group ring ZG and let p Λ ξ be its Novikov completion. Choose a transverse ω-gradient v. The classical construction of counting the flow lines of v defines the Novikov complex N˚freely generated over p Λ ξ by the set of zeroes of ω. In this paper we introduce a refinement of this construction. We define a subring p Λ Γ of p Λ ξ (depending on an auxiliary parameter Γ which is a certain cone in the vector space H 1 pG, Rq) and show that the Novikov complex N˚is defined actually over p Λ Γ and computes the homology of the chain complex C˚p x M q b Λ p Λ Γ . In the particular case when G « Z 2 , and the irrationality degree of ξ equals 2, the ring p Λ Γ is isomorphic to the ring of series in 2 variables x, y of the form ř rPN arx nr y mr where ar, nr, mr P Z and both nr, mr converge to 8 when r Ñ 8.The algebraic part of the proof is based on a suitable generalization of the classical algorithm of approximating irrational numbers by rationals. The geometric part is a straightforward generalization of the author's proof of the particular case of this theorem concerning the circle-valued Morse maps [15]. As a byproduct we obtain a simple proof of the properties of the Novikov complex for the case of Morse forms of irrationality degree ą 1.The paper contains two appendices. In Appendix 1 we give an overview of the E. Pitcher's work on circle-valued Morse theory (1939). We show that Pitcher's lower bounds for the number of critical points of a circle-valued Morse map coincide with the torsion-free part of the Novikov inequalities (1982). In Appendix 2 we construct a circle-valued Morse map and its gradient such that its unique Novikov incidence coefficient is a power series in one variable with an arbitrarily small convergence radius.