Dynamic Theory and Replacement Cost Accounting: The Schmalenbach‐Schmidt Polemic of the 1920s Available to Purchase

Introduces to English‐speaking audiences Schmidt′s defence of replacement cost accounting vis‐à‐vis Schmalenbach. That defence is significant in that it offers a reconciliation of replacement cost accounting with Schmalenbach′s dynamic theory. Argues that although Schmalenbach′s ideas predominated in Germany in the 1920s and 1930s, Schmidt′s ideas laid the groundwork for more recent accounting thought in that country.