Accrue Cummulative Dividend?

I was wondering if some folks could weigh in on an issue.  My small, private company (a LLC) is doing a small private placement offering.  It is a preferred stock security w/ a cumulative dividend.  The dividend is payable in cash or more stock.  It is first in line to be paid from any distributions.  Distributions are not mandatory, they are subject to management's discretion.  Do to this factors I wasn't planning on accruing the dividend since technically, if the company doesn't reach cash flow positive, the dividend could never happen.  I ran this by our CPA firm and they felt the same way but I wanted to get the opinion of the group here.  
Any thoughts?
Thanks!