Accounting Firms Back US Board’s Preferred Stock Dividends Plan

BDO USA PC and RSM US LLP are among accounting firms throwing their weight behind a plan to clarify how companies should report certain dividends they pay out to shareholders.

The Financial Accounting Standards Board’s draft plan would make it easier to compare financial reporting across companies without imposing substantial costs or compliance burdens, accounting firms and associations wrote in recent comment letters.

The board will discuss the responses at a future meeting, spokesperson Christine Klimek said in a statement.

FASB’s proposed guidance is “straightforward, relying on information readily available,” CliftonLarsonAllen LLP said in its letter.

The ...