The scheme where normally the books are "closed" at the end of each reporting period, and sales that occur after the closing date do not appear in the current-period income statement is called:

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The scheme described is known as improper cutoff of sales, which refers to the practice of closing the books at the end of a reporting period and not including sales that occur after the closing date. This can lead to distorted financial statements, particularly if a significant amount of sales occur after the cutoff date. It is important for companies to properly record sales in the appropriate periods to ensure accurate financial reporting. Sham sales refer to fictitious transactions or sales made solely to improve financial results, while recognition of conditional sales and consignment sales are different accounting concepts.

The Scheme Where Normally the Books Are "Closed" at the End