01—Abstract
Summary
Summary of the 8-K filed December 16, 2021. Cited figures are marked; the original filing is the authoritative source.
Accenture plc (ACN) filed an 8-K on December 15, 2021, to announce its first-quarter fiscal year 2022 financial results for the period ending November 30, 2021.
The report primarily serves to attach the press release detailing these results, which is furnished but not filed. Investors should note that the press release includes non-GAAP financial measures, such as free cash flow, revenue and booking changes in local currency, and earnings per share excluding investment gains. Accenture's management believes these non-GAAP metrics offer additional insights into the company's liquidity, comparable revenue performance by excluding currency fluctuations, and the underlying operational performance by adjusting for investment gains.
Reconciliations to GAAP figures are provided within the press release. Investors are advised to consider these non-GAAP measures as supplemental to, and not a substitute for, the company's GAAP financial reporting.
02—Key points
Key Highlights
- Accenture announced its Q1 FY2022 financial results ending November 30, 2021, via an 8-K filing on December 15, 2021.
- The filing's primary purpose is to furnish the accompanying press release detailing the quarterly financial performance.
- The press release contains non-GAAP financial measures, including free cash flow, local currency revenue and booking changes, and adjusted diluted EPS.
- Free cash flow is presented to provide additional insight into the company's liquidity.
- Revenue and booking changes are presented in local currency to exclude the impact of foreign exchange rate fluctuations, aiding comparability.
- Earnings per share are adjusted to exclude gains from an investment, offering a view of operational performance.
- Reconciliations of non-GAAP measures to their most directly comparable GAAP measures 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 officially announce and attach the press release containing Accenture's financial results for the first quarter of fiscal year 2022, which ended on November 30, 2021.
What are the key non-GAAP financial measures disclosed in the accompanying press release?
The key non-GAAP financial measures disclosed are free cash flow, percentage changes in revenues and bookings on a local currency basis, and diluted earnings per share excluding investment gains. These are provided to offer further insights into Accenture's financial performance and liquidity.
Why does Accenture present financial results in local currency?
Accenture presents revenue and booking changes in local currency to exclude the effects of foreign currency exchange rate fluctuations. This allows for a more meaningful comparison of the company's performance over different periods, as it shows the underlying business growth independent of currency movements.
Should investors rely solely on the non-GAAP financial information?
No, investors should not rely solely on the non-GAAP financial information. Accenture's management considers these measures supplemental and not a substitute for the financial information prepared in accordance with Generally Accepted Accounting Principles (GAAP). Reconciliations to GAAP measures are provided in the press release for a complete understanding.
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