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Board of Directors and Stockholders
Barnes & Noble, Inc.
New York, New York
We have audited the accompanying consolidated balance
sheets of Barnes & Noble, Inc., as of May 1, 2010, May 2,
2009 and January 31, 2009 and the related consolidated
statements of operations, changes in shareholders’ equity
and cash flows for each of the three fiscal years ended
May 1, 2010 and the transition period ended May 2, 2009.
These financial statements are the responsibility of the
Company’s management. Our responsibility is to express
an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with the standards
of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and
significant estimates made by management, as well as
evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the consolidated financial statements
referred to above present fairly, in all material respects,
the financial position of Barnes & Noble, Inc. as of May 1,
2010, May 2, 2009 and January 31, 2009 and the results of
its operations and its cash flows for each of the three fiscal
years ended May 1, 2010 and the transition period ended
May 2, 2009, in conformity with accounting principles
generally accepted in the United States of America.
Effective February 1, 2009, the Company retrospectively
adopted ASC Topic 810 as it relates to noncontrolling
interests in consolidated financial statements and pro-
spectively adopted ASC Topic 805 as it relates to business
combinations.
We also have audited, in accordance with the standards of
the Public Company Accounting Oversight Board (United
States), Barnes & Noble, Inc.’s internal control over
financial reporting as of May 1, 2010, based on criteria
established in Internal Control – Integrated Framework
issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO) and our report dated
June 30, 2010 expressed an unqualified opinion thereon.
BDO Seidman, LLP
New York, New York
June 30, 2010
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
2010 Annual Report 65