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| Additional information |
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| BDO Seidman, LLP |
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Overview:
BDO Consulting Corporate Advisors, LLC (BCCA) assists underperforming organizations through transitions by providing a range of strategic restructuring services. Its goal is to help clients improve their business performance and to ensure the success of all stakeholders. Its seasoned professionals draw upon their knowledge and experience to add depth to an organization’s management team by providing interim management, debtor-side turnaround, financial advisory and secured creditor services across a wide range of industries.
Interim Management
BCCA’s interim management services provide guidance to organizations—and their stakeholders—experiencing distressed business challenges. Its professionals, who are often retained by and report to boards of directors, offer a range of capabilities to assist clients with smooth transitions and timely resolutions to organizational difficulties. It provides the following services during corporate advisory restructuring:
Provide situational experience and strategic insight to the board and management
Serve as CRO, CEO, COO and CFO
Hold positions in or out of bankruptcy and pursuant to plans of reorganization
Address and develop resolutions to business and financial challenges
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History:
BDO Seidman, LLP has had a long and prosperous history. Since the firm's founding nearly 100 years ago, BDO Seidman has prided itself on values such as competence, honesty and integrity, professionalism, responsibility and accountability and dedication - values which have been critical to our continued growth and success.
BDO Seidman was founded by Maximillian L. Seidman as Seidman and Seidman in New York City in 1910. At that time, the accounting profession was in its infancy, with fewer than 2,200 practicing CPAs in the United States. 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 recognized the accountant's role in providing 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 comprehensive tax planning not only to individuals, but now also to businesses.
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 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.
The firm continued to grow, becoming a truly national firm by the 1960s and converting into a national general partnership. In 1963, the firm joined other accounting firms from Canada, the United Kingdom, the Netherlands and Germany in a movement to create an international organization under the name of Binder Seidman International Group (BSIG), the predecessor to BDO International.
In 1973, BSIG's partner firms proposed a new group, called BDO (Binder Dijker Otte & Co) after the founding members, which would have a strong European presence. The international organization they formed has since expanded into today's BDO International, the world's fifth largest international accounting and consulting network, with 1,095 Member Firm offices in 110 countries.
Today, BDO Seidman, LLP, the U.S. Member Firm of BDO International, has 37 offices and more than 400 independent alliance locations nationwide. |
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