BDO USA, LLP

BDO USA, LLP

Type	Limited Liability Partnership (LLP)
Industry	Accounting Professional Services Tax Consulting
Founded	1910, as Seidman and Seidman
Headquarters	One Prudential Plaza Chicago, Illinois
Products	Professional Services
Revenue	$1.29 billion USD (FY 2016)
Number of employees	6,057
Website	bdo.com

BDO USA, LLP is the United States Member Firm of BDO International, a global accounting network. The company is headquartered in Chicago.

BDO USA, LLP was founded as Seidman and Seidman in New York City in 1910 by three immigrant brothers: Maximillian L. Seidman, Francis E. Seidman, and Jacob S. 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 to the United States Constitution was ratified, followed by the Revenue Act of 1913 with new impositions of U.S. Federal income tax enacted by Congress in that year. M. L. Seidman saw the potential of the accountant's role to provide tax services 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 services to businesses in addition to individuals.

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 in the industry.

In 1925, the firm rapidly expanded, opening offices in Jamestown, Illinois and Rockford, Illinois, followed by Chicago in 1921, and Gardner, Massachusetts in 1924. In 1922, J. S. Seidman joined the firm as a founding member.

The 1930s 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.