01—Abstract
Summary
Summary of the 8-K filed September 26, 2019. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on September 25, 2019, primarily to announce its financial results for the fourth quarter and full fiscal year ended August 31, 2019.
The filing incorporates a news release containing these results, which provides key financial performance indicators. Investors should note that the company uses and discloses certain non-GAAP financial measures, such as free cash flow, revenue changes in local currency, and adjusted diluted earnings per share excluding tax law changes. These non-GAAP metrics are presented to offer supplemental insights into operational performance and liquidity, alongside the standard GAAP financial information.
The company emphasizes that while these non-GAAP measures are believed to provide meaningful additional information, they are supplemental and should not be considered a substitute for GAAP-based reporting. Investors are encouraged to review the reconciliations provided in the news release to understand the adjustments made from GAAP figures. The primary focus of this 8-K is the disclosure of the company's recent financial performance and its approach to presenting these results to the market.
02—Key points
Key Highlights
- Accenture announced its financial results for Q4 and the full fiscal year 2019 via an 8-K filing.
- The filing includes a news release detailing the company's financial performance.
- Accenture utilizes non-GAAP financial measures to provide additional insights.
- Key non-GAAP measures disclosed include free cash flow and revenue changes in local currency.
- Adjusted diluted earnings per share, excluding the impact of 2018 tax law changes, are also presented.
- Reconciliations between GAAP and non-GAAP measures are provided within the accompanying news release.
- The company views these non-GAAP metrics as supplemental to GAAP reporting.
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 officially report Accenture's financial results for its fourth quarter and full fiscal year ended August 31, 2019, along with a press release containing these details.
What non-GAAP financial measures does Accenture report in this filing?
Accenture reports free cash flow (operating cash flow less property and equipment additions), percentage changes in revenues on a local currency basis, and diluted earnings per share, effective tax rate, net income, and provision for income taxes excluding charges associated with tax law changes in fiscal 2018.
Why does Accenture provide non-GAAP financial information?
Accenture's management believes that non-GAAP financial information provides meaningful additional insights into the company's liquidity, facilitates a more meaningful comparison of revenue performance by excluding currency fluctuations, and helps in understanding the impact of specific items like tax law changes on financial performance.
How should investors interpret the non-GAAP financial information?
Investors should consider the non-GAAP financial information as supplemental to, and not a substitute for, the financial measures prepared in accordance with GAAP. Reconciliations to the most directly comparable GAAP measures are provided in the news release for evaluation.
04—Continue