Eugen Schmalenbach

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Schmalenbach, Eugen


Born Aug. 20,1873, in Schmalen-bach, near Halver, Westphalia; died Feb. 20, 1955, in Cologne. German economist.

In 1906, Schmalenbach became a professor at the University of Cologne. In such works as Financing (1915) and Dynamic Balance (1919) he examined questions pertaining chiefly to the theory of balanced accounts and the financing of capitalist enterprises. Elevating the capitalists’ notions about their day-to-day activities to the status of theoretical concepts, he created a “science of enterprises,” which systematized rules for the most profitable management of the economy. Writing as a defender of monopoly capital, he outlined paths for the improvement of accounting, techniques of commerce, commodity circulation, and credit as means of increasing profits and overcoming the contradictions of the capitalist mode of production. An ideologist of “organized” capitalism, Schmalenbach advocated the organization of the economy into trusts with the help of the state.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Eugen Schmalenbach made an analysis of financial flows organized in three categories, which corresponds to three categories of flows.
They are: "Eugen Schmalenbach as the Founder of Cost Accounting in the German-Speaking World," by Marcell Schweitzer; "Costing Activities: Alternative Views of History," by Claudia Gormly and Murray Wells; "An Introduction to Strategic Management Accounting," by Makoto Kawada; and "Accounting Change and the Emergence of Management Accounting," by C.
Drawing on the research of Eugen Schmalenbach and others, their training emphasized techniques effective in resolving the reciprocal problems of maintaining enterprise efficiency and solvency.