01—Abstract
Summary
Summary of the 8-K filed December 21, 2016. Cited figures are marked; the original filing is the authoritative source.
Accenture plc filed an 8-K on December 21, 2016, to report its financial results for the first quarter of fiscal year 2017, ending November 30, 2016.
The filing primarily references a press release (Exhibit 99) containing these results. Investors should note that the press release includes non-GAAP financial measures, such as free cash flow and net revenue growth on a local currency basis, which management believes offer valuable insights into the company's performance and liquidity beyond standard GAAP reporting. The company emphasizes that these non-GAAP measures are supplemental and should be considered alongside their GAAP equivalents.
The attached press release contains reconciliations to GAAP, allowing for a comprehensive understanding of Accenture's financial health. This 8-K serves as a notification of the release of these important quarterly financial figures.
02—Key points
Key Highlights
- Accenture announced Q1 FY2017 financial results on December 21, 2016.
- The results cover the fiscal quarter ending November 30, 2016.
- The 8-K filing includes a press release (Exhibit 99) with detailed financial information.
- Key non-GAAP financial measures disclosed include Free Cash Flow.
- Non-GAAP metric also includes percentage changes in net revenues on a local currency basis to exclude foreign exchange rate impacts.
- Accenture's management believes these non-GAAP measures provide meaningful supplemental information for investors.
- Reconciliations between non-GAAP and GAAP measures are provided within 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 formally report Accenture's financial results for its first quarter of fiscal year 2017, which ended on November 30, 2016. It directs investors to an attached press release for the detailed financial information.
What are the key non-GAAP financial measures mentioned in the filing?
The key non-GAAP financial measures highlighted are Free Cash Flow (defined as operating cash flow less additions to property and equipment) and percentage changes in net revenues on a local currency basis. These are presented to offer additional insights beyond GAAP measures.
Why does Accenture report non-GAAP financial measures?
Accenture's management believes that these non-GAAP financial measures, such as free cash flow and local currency revenue growth, provide a more meaningful way to understand the company's operational performance, liquidity, and the underlying trends in its business by excluding certain items like foreign currency fluctuations.
Where can I find the complete financial results and GAAP reconciliations?
The complete financial results, including reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures, are available in the press release attached as Exhibit 99 to this 8-K filing.
04—Continue