01—Abstract
Summary
Summary of the 8-K filed March 22, 2012. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on March 22, 2012, to report its financial results for the second quarter of fiscal year 2012, ending February 29, 2012.
The filing primarily includes a press release that details the company's performance, although the press release itself is furnished and not officially filed with the SEC. This report is crucial for investors as it provides insight into Accenture's operational and financial condition.
The disclosure of non-GAAP financial measures, such as free cash flow and net revenue changes in local currency, offers a more nuanced view of the company's performance beyond standard Generally Accepted Accounting Principles (GAAP). These supplemental metrics are intended to enhance the understanding of Accenture's liquidity and its ability to compare revenue performance across different periods without the distortion of currency fluctuations.
02—Key points
Key Highlights
- Accenture announced its financial results for the second quarter of fiscal year 2012, ending February 29, 2012.
- The 8-K filing incorporates a press release detailing these results (Exhibit 99.1).
- The press release provides non-GAAP financial measures, including free cash flow.
- Free cash flow is defined as operating cash flow minus additions to property and equipment.
- The company also reports percentage changes in net revenues on a local currency basis, excluding reimbursements.
- Accenture's management believes these non-GAAP measures offer meaningful insights into liquidity and revenue comparisons.
- Reconciliations of non-GAAP measures to GAAP equivalents are available in the press release.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to announce and provide Accenture's financial results for its second quarter of fiscal year 2012, which ended on February 29, 2012. It includes a press release with these details.
What non-GAAP financial measures are disclosed by Accenture in this report?
Accenture discloses two key non-GAAP financial measures: free cash flow (operating cash flow minus capital expenditures) and percentage changes in net revenues on a local currency basis, excluding reimbursements. These are presented to offer additional insights into the company's financial performance and liquidity.
Are the financial results in the press release considered officially filed with the SEC?
No, the press release containing the financial results is furnished with the SEC as an exhibit to the 8-K filing, rather than being officially filed. This means it provides information to investors but does not carry the same regulatory implications as a filed document.
Why does Accenture provide non-GAAP financial information?
Accenture's management believes that non-GAAP financial measures provide a more meaningful understanding of the company's operational performance and financial condition. Free cash flow is highlighted for its insight into liquidity, and local currency revenue changes are provided to allow for better comparison of underlying business performance without the impact of foreign exchange rate fluctuations.
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