01—Abstract
Summary
Summary of the 8-K filed December 19, 2019. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on December 18, 2019, reporting on its first quarter fiscal year 2020 financial results, which concluded on November 30, 2019.
The filing primarily references a news release containing these results. Investors should note that Accenture is providing both GAAP and non-GAAP financial measures, including free cash flow and revenue changes on a local currency basis, to offer a more comprehensive view of its performance and liquidity. The company management believes these non-GAAP measures provide valuable insights.
Free cash flow is presented as operating cash flow minus capital expenditures, intended to highlight liquidity. Revenue changes excluding currency fluctuations are also presented to allow for better comparison of underlying business performance. While these non-GAAP figures are considered supplemental, reconciliations to the most comparable GAAP measures are available within the provided news release (Exhibit 99) for a complete understanding.
02—Key points
Key Highlights
- Accenture announced Q1 FY2020 financial results on December 19, 2019.
- The filing's primary information source is a news release (Exhibit 99).
- Key non-GAAP financial measures disclosed include free cash flow and local currency revenue changes.
- Free cash flow is defined as operating cash flow less additions to property and equipment.
- Local currency revenue changes aim to exclude the impact of foreign currency fluctuations for comparison.
- Management believes these non-GAAP measures offer meaningful additional insights into liquidity and performance.
- Reconciliations between non-GAAP and GAAP measures are provided in the accompanying news 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 officially report Accenture's financial results for its first quarter of fiscal year 2020, which ended on November 30, 2019. It primarily directs investors to a news release containing these detailed results and related financial information.
What non-GAAP financial measures does Accenture provide, and why?
Accenture provides non-GAAP measures such as free cash flow and revenue growth in local currency. They provide free cash flow to offer additional insights into the company's liquidity, defined as operating cash flow minus capital expenditures. Revenue growth in local currency is provided to help investors understand the underlying business performance by removing the volatility caused by foreign exchange rate fluctuations.
Are the non-GAAP financial measures the primary reported figures?
No, the non-GAAP financial measures are presented as supplemental information. While management believes they offer valuable insights, they should be considered in addition to, not as a replacement for, the financial information prepared in accordance with Generally Accepted Accounting Principles (GAAP). Reconciliations to the most directly comparable GAAP measures are included in the news release.
Where can I find the actual financial results and detailed reconciliations?
The actual financial results and detailed reconciliations between non-GAAP and GAAP measures are located in the news release dated December 19, 2019, which is attached as Exhibit 99 to this 8-K filing.
04—Continue