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    Gordon Shillinglaw - 1925-2012
    memorial posted April 16, 2012 by Deirdre Harris, last edited April 16, 2012, tagged 2012, memorial 
    colleague's name:
    Gordon Shillinglaw - 1925-2012
    July 26, 1925 - March 31, 2012

    Gordon Shillinglaw was born in Albany, N.Y. on July 26, 1925 and died on March 31, 2012, following a long battle with cancer. He obtained an A.B. in naval sciences from Brown University in 1945 and then served with the U.S. Navy in the Pacific. He then obtained an M.S. in business administration from the University of Rochester in 1948 and a Ph.D. in economics from Harvard University in 1952. He taught at Harvard from 1949 to 1951, Hamilton College from 1951 to 1952, Massachusetts Institute of Technology from 1955 to 1961, and Columbia University from 1961 until becoming professor emeritus in 1990.

    From 1952 to 1955, he worked with Joel Dean Associates, a management consulting firm in New York City. Joel Dean, a Ph.D. from the University of Chicago, was one of the pioneers in capital budgeting analysis and in applying economics to management decision making. Gordon claimed that he originated the term “discounted cash flow” while at the firm, and said that he first used the term in an article in the Journal of Business in 1955.

    Gordon taught at IMEDE in Lausanne, Switzerland in 1964-65 and 1967-69.

    In 1961, he brought out the textbook, Cost Accounting: Analysis and Control, which, unlike cost accounting books then in print, was concerned with the management uses of cost accounting. The book was published in five editions. In 1964, he and Myron J. Gordon became the coauthors of an innovative textbook, Accounting: A Management Approach, then the third edition of a textbook launched in 1951 by three MIT professors, which Shillinglaw took to a ninth edition with coauthors. Gordon was also the author of numerous journal articles and several chapters in handbooks.

    He was vice-president of the American Accounting Association in 1966-67. In 1991, he was inducted into the Hall of Fame of the AAA’s Northeast Region. He served on the Cost Accounting Standards Board from 1978 to 1980.

    He is succeeded by his wife Barbara, two children, James and Laura, and four grandchildren.

    -- Stephen A. Zeff