BDO Seidman

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BDO Seidman, LLP

Type of Company	Limited Liability Partnership (LLP)
Founded	1910 as Seidman & Seidman
Headquarters	Headquarters in Chicago, Illinois
Industry	Accounting Professional Services Tax Consulting
Products	Professional Services
Revenue	$440 million USD (FY 2005)
Employees	2,200 as of June 30, 2005
Website	[1]

BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four.

1 History
- 1.1 Expansion
- 1.2 Development of the National Firm
2 Present
3 External links

[edit] History

BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. At that time the accounting profession was in its infancy, with fewer than 2,200 practicing CPAs in the United States. Shortly thereafter in 1913, the 16th amendment of the Constitution allowed income tax to be levied on individual Americans for the first time. M. L. Seidman quickly saw the accountant's role to provide comprehensive tax planning to individuals. By 1917, Congress enacted the first revenue bills and the U.S. entry into World War I created the need for corporate income and excess profit taxes. At the same time, federal spending rose to $18.9 billion with 58 percent of the federal revenues provided from income taxes. M.L. Seidman and his siblings, who joined him in his new accounting firm, seized the opportunity to provide tax planning not only to individuals but now also to businesses.

[edit] Expansion

An era of expansion began. Fostered by the federal government's conversion of furniture and woodworking companies to aircraft production for the war effort, the firm opened an office in Grand Rapids, Michigan in 1917. Seidman and Seidman quickly established itself as a leader in serving the furniture industry by developing the first effective furniture plant costing system. Today, BDO Seidman's Furniture Industry practice remains at the forefront of the industry.

In 1920, the firm rapidly expanded, opening offices in Jamestown, and Rockford, Illinois, followed by Chicago, Illinois in 1921, and Gardner, Massachusetts in 1924. In 1922, J.S. Seidman joined the firm as a founding member and very quickly became a highly respected leader of the accounting profession. He was known as a master of authority in all aspects of the profession - taxation, accounting and auditing, professional services, and international practice. J.S. was indeed a brilliant individual and his intellect brought him and the firm a national reputation for professional capability.

The 1930's brought another new beginning for the accounting profession. In 1933, Congress passed the Securities Act, requiring public corporations to have financial statements included in registration statements and periodic reports reported on by independent CPAs. A year later, the Securities and Exchange Commission was created to administer the new legislation. With this flurry of activity, the firm continued its ideal to provide comprehensive tax and financial services to businesses and individuals.

[edit] Development of the National Firm

The firm continued to grow and by the 1960's, truly became a national firm. On April 1, 1968 the firm was converted into a national general partnership. This marked the beginning of a new era of expansion. Over the years to the present, the firm established many offices throughout the United States.

[edit] Present

Today, BDO Seidman, LLP has more than 30 offices and 250 independent alliance locations nationwide. During this timeframe, BDO International was created and has grown to become the fifth largest accounting and consulting organization in the world with more than 600 member firm offices in 105 countries.