Edgar Filing: Accenture plc

Form 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED November 30, 2011

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO

Commission File Number: 001-34448

Accenture plc

(Exact name of registrant as specified in its charter)

Ireland

98-0627530

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

1 Grand Canal Square,

Grand Canal Harbour,

Dublin 2, Ireland

(Address of principal executive offices)

(353) (1) 646-2000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer þ	Accelerated filer ¨	Non-accelerated filer ¨	Smaller reporting company ¨
	(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ

The number of shares of the registrant’s Class A ordinary shares, par value $0.0000225 per share, outstanding as of December 12, 2011 was 647,208,748 (which number does not include 87,302,077 issued shares held by the registrant). The number of shares of the registrant’s Class X ordinary shares, par value $0.0000225 per share, outstanding as of December 12, 2011 was 47,884,679.

ACCENTURE PLC

INDEX


	Page
Part I. Financial Information		3
Item 1. Financial Statements		3
Consolidated Balance Sheets as of November 30, 2011 (Unaudited) and August 31, 2011		3
Consolidated Income Statements (Unaudited) for the three months ended November 30, 2011 and 2010		4
Consolidated Shareholders’ Equity and Comprehensive Income Statements (Unaudited) for the three months ended November 30, 2011		5
Consolidated Cash Flows Statements (Unaudited) for the three months ended November 30, 2011 and 2010		6
Notes to Consolidated Financial Statements (Unaudited)		7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		13
Item 3. Quantitative and Qualitative Disclosures About Market Risk		23
Item 4. Controls and Procedures		23
Part II. Other Information		24
Item 1. Legal Proceedings		24
Item 1A. Risk Factors		24
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		25
Item 3. Defaults upon Senior Securities		27
Item 4. (Removed and Reserved)		27
Item 5. Other Information		27
Item 6. Exhibits		27
Signatures		28

PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ACCENTURE PLC

CONSOLIDATED BALANCE SHEETS

November 30, 2011 and August 31, 2011

(In thousands of U.S. dollars, except share and per share amounts)


	November 30, 2011			August 31, 2011
	(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	5,091,906		$	5,701,078
Short-term investments		4,638			4,929
Receivables from clients, net		3,325,556			3,236,059
Unbilled services, net		1,489,541			1,385,733
Deferred income taxes, net		568,649			556,160
Other current assets		512,429			587,224

Total current assets		10,992,719			11,471,183

NON-CURRENT ASSETS:
Unbilled services, net		49,303			49,192
Investments		38,207			40,365
Property and equipment, net		745,898			785,231
Goodwill		1,225,298			1,131,991
Deferred contract costs		552,893			559,794
Deferred income taxes, net		801,447			756,079
Other non-current assets		885,080			937,675

Total non-current assets		4,298,126			4,260,327

TOTAL ASSETS	$	15,290,845		$	15,731,510

LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and bank borrowings	$	4,762		$	4,419
Accounts payable		898,113			949,250
Deferred revenues		2,112,177			2,219,270
Accrued payroll and related benefits		3,079,862			3,259,252
Accrued consumption taxes		357,744			348,540
Income taxes payable		201,625			238,003
Deferred income taxes, net		26,385			32,647
Other accrued liabilities		894,457			855,208

Total current liabilities		7,575,125			7,906,589

NON-CURRENT LIABILITIES:
Long-term debt		1,620			—
Deferred revenues relating to contract costs		554,413			553,440
Retirement obligation		975,489			995,695
Deferred income taxes, net		61,136			72,257
Income taxes payable		1,653,847			1,619,076
Other non-current liabilities		250,031			233,581

Total non-current liabilities		3,496,536			3,474,049

COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of November 30, 2011 and August 31, 2011		57			57
Class A ordinary shares, par value $0.0000225 per share, 20,000,000,000 shares authorized, 733,044,361 and 727,795,770 shares issued as of November 30, 2011 and August 31, 2011, respectively		16			16
Class X ordinary shares, par value $0.0000225 per share, 1,000,000,000 shares authorized, 47,884,679 and 49,365,379 shares issued and outstanding as of November 30, 2011 and August 31, 2011, respectively		1			1
Restricted share units		768,239			784,277
Additional paid-in capital		722,931			525,037
Treasury shares, at cost: Ordinary, 40,000 shares as of November 30, 2011 and August 31, 2011; Class A ordinary, 88,372,746 and 86,361,763 shares as of November 30, 2011 and August 31, 2011, respectively		(3,740,023	)		(3,577,574	)
Retained earnings		6,467,622			6,281,517
Accumulated other comprehensive loss		(452,483	)		(134,380	)

Total Accenture plc shareholders’ equity		3,766,360			3,878,951
Noncontrolling interests		452,824			471,921

Total shareholders’ equity		4,219,184			4,350,872

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	15,290,845		$	15,731,510

The accompanying Notes are an integral part of these Consolidated Financial Statements.

ACCENTURE PLC

CONSOLIDATED INCOME STATEMENTS

For the Three Months Ended November 30, 2011 and 2010

(In thousands of U.S. dollars, except share and per share amounts)

(Unaudited)


	2011			2010
REVENUES:
Revenues before reimbursements (“Net revenues”)	$	7,074,497		$	6,045,650
Reimbursements		514,611			432,543

Revenues		7,589,108			6,478,193
OPERATING EXPENSES:
Cost of services:
Cost of services before reimbursable expenses		4,822,957			4,101,170
Reimbursable expenses		514,611			432,543

Cost of services		5,337,568			4,533,713
Sales and marketing		837,477			731,471
General and administrative costs		432,517			385,726
Reorganization costs, net		408			348

Total operating expenses		6,607,970			5,651,258

OPERATING INCOME		981,138			826,935
Loss on investments, net		(55	)		(51	)
Interest income		10,512			9,393
Interest expense		(4,158	)		(4,736	)
Other income, net		5,590			13,087

INCOME BEFORE INCOME TAXES		993,027			844,628
Provision for income taxes		281,270			239,072

NET INCOME		711,757			605,556
Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc.		(61,956	)		(64,674	)
Net income attributable to noncontrolling interests – other		(7,715	)		(6,168	)

NET INCOME ATTRIBUTABLE TO ACCENTURE PLC	$	642,086		$	534,714


Weighted average Class A ordinary shares:
Basic		644,285,298			637,298,491
Diluted		730,114,347			743,495,265
Earnings per Class A ordinary share:
Basic	$	1.00		$	0.84
Diluted	$	0.96		$	0.81
Cash dividends per share	$	0.675		$	0.45

The accompanying Notes are an integral part of these Consolidated Financial Statements.

ACCENTURE PLC

CONSOLIDATED SHAREHOLDERS’ EQUITY AND COMPREHENSIVE INCOME STATEMENTS

For the Three Months Ended November 30, 2011

(In thousands of U.S. dollars and share amounts)

(Unaudited)


	Ordinary Shares				Class A Ordinary Shares				Class X Ordinary Shares					Restricted Share Units			Additional Paid-in Capital			Treasury Shares						Retained Earnings			Accumulated Other Comprehensive Loss			Total Accenture plc Shareholders’ Equity			Noncontrolling Interests			Total Shareholders’ Equity
	$		No. Shares		$		No. Shares		$		No. Shares			Restricted Share Units			Additional Paid-in Capital			$			No. Shares			Retained Earnings			Accumulated Other Comprehensive Loss			Total Accenture plc Shareholders’ Equity			Noncontrolling Interests			Total Shareholders’ Equity
Balance as of August 31, 2011	$	57		40	$	16		727,796	$	1		49,365		$	784,277		$	525,037		$	(3,577,574	)		(86,402	)	$	6,281,517		$	(134,380	)	$	3,878,951		$	471,921		$	4,350,872
Comprehensive income:
Net income																											642,086						642,086			69,671			711,757
Other comprehensive loss:
Unrealized losses on cash flow hedges, net of tax and reclassification adjustments																														(67,796	)		(67,796	)		(6,420	)		(74,216	)
Unrealized losses on marketable securities, net of reclassification adjustments																														(287	)		(287	)		(27	)		(314	)
Foreign currency translation adjustments, net of tax																														(254,856	)		(254,856	)		(24,791	)		(279,647	)
Defined benefit plans, net of tax																														4,836			4,836			458			5,294

Other comprehensive loss																														(318,103	)					(30,780	)

Comprehensive income																																	323,983						362,874
Income tax benefit on share-based compensation plans																		23,189															23,189						23,189
Purchases of Class A ordinary shares																		19,818			(254,222	)		(4,807	)								(234,404	)		(19,818	)		(254,222	)
Share-based compensation expense															92,008			8,550															100,558						100,558
Purchases/redemptions of Accenture SCA Class I common shares, Accenture Canada Holdings Inc. exchangeable shares and Class X ordinary shares												(1,480	)					(28,209	)														(28,209	)		(2,674	)		(30,883	)
Issuances of Class A ordinary shares:
Employee share programs								4,173							(131,516	)		171,136			91,773			2,796									131,393			8,554			139,947
Upon redemption of Accenture SCA Class I common shares								1,075																									—						—
Dividends															23,470												(456,085	)					(432,615	)		(42,281	)		(474,896	)
Other, net																		3,410									104						3,514			(1,769	)		1,745

Balance as of November 30, 2011	$	57		40	$	16		733,044	$	1		47,885		$	768,239		$	722,931		$	(3,740,023	)		(88,413	)	$	6,467,622		$	(452,483	)	$	3,766,360		$	452,824		$	4,219,184

The accompanying Notes are an integral part of these Consolidated Financial Statements.

ACCENTURE PLC

CONSOLIDATED CASH FLOWS STATEMENTS

For the Three Months Ended November 30, 2011 and 2010

(In thousands of U.S. dollars)

(Unaudited)


	2011			2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	711,757		$	605,556
Adjustments to reconcile Net income to Net cash provided by operating activities —
Depreciation, amortization and asset impairments		132,625			120,059
Reorganization costs, net		408			348
Share-based compensation expense		100,558			85,096
Deferred income taxes, net		(28,587	)		(23,156	)
Other, net		(17,358	)		18,606
Change in assets and liabilities, net of acquisitions —
Receivables from clients, net		(214,629	)		(291,295	)
Unbilled services, current and non-current		(250,103	)		(194,829	)
Other current and non-current assets		(10,054	)		(96,355	)
Accounts payable		(74,357	)		(49,985	)
Deferred revenues, current and non-current		95,231			(18,032	)
Accrued payroll and related benefits		(19,285	)		(31,684	)
Income taxes payable, current and non-current		(16,393	)		(20,598	)
Other current and non-current liabilities		65,445			2,668

Net cash provided by operating activities		475,258			106,399

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities and sales of available-for-sale investments		3,623			19
Purchases of available-for-sale investments		(3,561	)		(53	)
Proceeds from sales of property and equipment		957			720
Purchases of property and equipment		(80,875	)		(75,483	)
Purchases of businesses and investments, net of cash acquired		(160,055	)		(60,043	)

Net cash used in investing activities		(239,911	)		(134,840	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of ordinary shares		139,947			170,271
Purchases of shares		(285,105	)		(619,720	)
Repayments of long-term debt, net		(38	)		(1,335	)
Cash dividends paid		(474,896	)		(320,650	)
Excess tax benefits from share-based payment arrangements		31,989			70,125
Other, net		486			(2,298	)

Net cash used in financing activities		(587,617	)		(703,607	)
Effect of exchange rate changes on cash and cash equivalents		(256,902	)		54,208

NET DECREASE IN CASH AND CASH EQUIVALENTS		(609,172	)		(677,840	)
CASH AND CASH EQUIVALENTS, beginning of period		5,701,078			4,838,292

CASH AND CASH EQUIVALENTS, end of period	$	5,091,906		$	4,160,452

The accompanying Notes are an integral part of these Consolidated Financial Statements.

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

1. BASIS OF PRESENTATION

The accompanying unaudited interim Consolidated Financial Statements of Accenture plc and its controlled subsidiary companies (collectively, the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. These Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes thereto for the fiscal year ended August 31, 2011 included in the Company’s Annual Report on Form 10-K filed with the SEC on October 21, 2011.

The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may be different from those estimates. The Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of results for these interim periods. The results of operations for the three months ended November 30, 2011 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2012.

The Company has evaluated events and transactions subsequent to the balance sheet date. Based on this evaluation, the Company is not aware of any events or transactions that occurred subsequent to the balance sheet date but prior to filing that would require recognition or disclosure in its Consolidated Financial Statements.

Allowances for Client Receivables and Unbilled Services

As of November 30, 2011 and August 31, 2011, total allowances recorded for client receivables and unbilled services were $73,296.

Accumulated Depreciation

As of November 30, 2011 and August 31, 2011, total accumulated depreciation was $1,590,670 and $1,639,965, respectively.

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

2. EARNINGS PER SHARE

Basic and diluted earnings per share were calculated as follows:


	Three Months Ended November 30,
	2011		2010
Basic Earnings per share
Net income attributable to Accenture plc	$	642,086	$	534,714
Basic weighted average Class A ordinary shares		644,285,298		637,298,491

Basic earnings per share	$	1.00	$	0.84


Diluted Earnings per share
Net income attributable to Accenture plc	$	642,086	$	534,714
Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc. (1)		61,956		64,674

Net income for diluted earnings per share calculation	$	704,042	$	599,388


Basic weighted average Class A ordinary shares		644,285,298		637,298,491
Class A ordinary shares issuable upon redemption/exchange of noncontrolling interests (1)		62,152,896		77,066,192
Diluted effect of employee compensation related to Class A ordinary shares (2)		23,435,943		28,806,249
Diluted effect of share purchase plans related to Class A ordinary shares		240,210		324,333

Diluted weighted average Class A ordinary shares		730,114,347		743,495,265

Diluted earnings per share (2)	$	0.96	$	0.81

(1)

Diluted earnings per share assumes the redemption of all Accenture SCA Class I common shares owned by holders of noncontrolling interests and the exchange of all Accenture Canada Holdings Inc. exchangeable shares for Accenture plc Class A ordinary shares, on a one-for-one basis. The income effect does not take into account “Net income attributable to noncontrolling interests — other,” since those shares are not redeemable or exchangeable for Accenture plc Class A ordinary shares.

(2)

Fiscal 2011 diluted weighted average Accenture plc Class A ordinary shares and earnings per share amounts have been restated to reflect the impact of the issuance of additional restricted share units to holders of restricted share units in connection with the payment of cash dividends. This did not result in a change to previously reported Diluted earnings per share.

3. INCOME TAXES

Effective Tax Rate

The Company’s effective tax rate for each of the three months ended November 30, 2011 and 2010 was 28.3%.

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

4. REORGANIZATION COSTS, NET

In fiscal 2001, the Company accrued reorganization liabilities in connection with its transition to a corporate structure. These liabilities included certain non-income tax liabilities, such as stamp taxes, as well as liabilities for certain individual income tax exposures related to the transfer of interests in certain entities to the Company as part of the reorganization. These primarily represent unusual and disproportionate individual income tax exposures assumed by certain, but not all, of the Company’s shareholders and partners in certain tax jurisdictions specifically related to the transfer of their partnership interests in certain entities to the Company as part of the reorganization. (Prior to fiscal 2005, the Company referred to its highest-level employees with the “partner” title and the Company continues to use the term “partner” to refer to these persons in certain situations related to its reorganization and the period prior to its incorporation.) The Company identified certain shareholders and partners who may incur such unusual and disproportionate financial damage in certain jurisdictions. These include shareholders and partners who were subject to tax in their jurisdiction on items of income arising from the reorganization transaction that were not taxable for most other shareholders and partners. In addition, certain other shareholders and partners were subject to a different rate or amount of tax than other shareholders or partners in the same jurisdiction. When additional taxes are assessed on these shareholders or partners in connection with these transfers, the Company has made and intends to make payments, and in one country has contractually committed, to reimburse certain costs associated with the assessment either to the shareholder or partner, or to the taxing authority. The Company has recorded reorganization expense and the related liability where such liabilities are probable. Interest accruals are made to cover reimbursement of interest on such tax assessments.

The Company’s reorganization activity was as follows:


	Three Months Ended November 30,
	2011			2010
Reorganization liability, beginning of period	$	307,286		$	271,907
Interest expense accrued		408			348
Foreign currency translation adjustments		(23,229	)		9,526

Reorganization liability, end of period	$	284,465		$	281,781

As of November 30, 2011, reorganization liabilities of $272,231 were included in Other accrued liabilities because expirations of statutes of limitations or other final determinations could occur within 12 months, and reorganization liabilities of $12,234 were included in Other non-current liabilities. Timing of the resolution of tax audits or the initiation of additional litigation and/or criminal tax proceedings may delay final resolution. Final resolution, through settlement, conclusion of legal proceedings or a tax authority’s decision not to pursue a claim, will result in payment by the Company of amounts in settlement or judgment of these matters and/or recording of a reorganization benefit or cost in the Company’s Consolidated Income Statement. It is possible the aggregate amount of such payments in connection with resolution of all such proceedings could exceed the currently recorded amounts. As of November 30, 2011, only a small number of jurisdictions remain that have active audits/investigations or open statutes of limitations, and only one is significant (which is the country referenced above). In that country, current and former partners, and the Company, are engaged in disputes with tax authorities in connection with the corporate reorganization in 2001, some of which have resulted, and others of which are expected to result, in litigation. These individuals and the Company intend to vigorously defend their positions.

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

5. BUSINESS COMBINATIONS AND GOODWILL

During the three months ended November 30, 2011, the Company acquired the net assets of a provider of residential and commercial mortgage processing services. In addition, the Company completed three individually immaterial acquisitions. The total consideration for all acquisitions was $160,055. In connection with these acquisitions, the Company recorded goodwill of $119,303, which was allocated among the reportable operating segments. Goodwill also included immaterial adjustments related to recent acquisitions. The Company also recorded $51,466 in intangible assets, primarily related to customer relationships. The intangible assets are being amortized over a period of three to seven years. The pro forma effects on the Company’s operations were not material.

The changes in the carrying amount of goodwill by reportable operating segment were as follows:


	August 31, 2011		Additions/ Adjustments		Foreign Currency Translation Adjustments			November 30, 2011
Communications, Media & Technology (1)	$	173,867	$	191	$	(6,315	)	$	167,743
Financial Services		304,720		118,322		(6,741	)		416,301
Health & Public Service		286,158		687		(2,043	)		284,802
Products		278,929		3,307		(10,081	)		272,155
Resources		88,317		936		(4,956	)		84,297

Total	$	1,131,991	$	123,443	$	(30,136	)	$	1,225,298

(1)	On September 1, 2011, the Company renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

6. SHAREHOLDERS’ EQUITY

Comprehensive Income

Comprehensive income was as follows:


	Three months ended November 30,
	2011		2010
Comprehensive income attributable to Accenture plc	$	323,983	$	591,756
Comprehensive income attributable to noncontrolling interests		38,891		79,808

Total comprehensive income	$	362,874	$	671,564

Dividends

The Company’s dividend activity during the three months ended November 30, 2011 was as follows:

Dividend Per

Accenture plc Class A
Ordinary Shares

Accenture SCA Class I Common
Shares and Accenture Canada Holdings
Inc. Exchangeable Shares

Total Cash

Dividend Payment Date

Share

Record Date

Cash Outlay

Record Date

Cash Outlay

Outlay

November 15, 2011

0.675

October 14, 2011

432,615

October 11, 2011

42,281

474,896

The payment of the cash dividends also resulted in the issuance of additional restricted share units to holders of restricted share units. Diluted weighted average Accenture plc Class A ordinary share amounts have been restated for all periods presented to reflect this issuance.

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

7. DERIVATIVE FINANCIAL INSTRUMENTS

The Company uses derivative financial instruments to manage foreign currency exchange rate risk. The Company’s derivative financial instruments consist of deliverable and non-deliverable foreign currency forward contracts.

The activity related to the change in net unrealized (losses) gains on cash flow hedges, net of tax, in Accumulated other comprehensive loss was as follows:


	Three Months Ended November 30,
	2011			2010
Net unrealized gains on cash flow hedges, net of tax, beginning of period	$	32,354		$	4,340
Change in fair value, net of tax		(80,101	)		17,575
Reclassification adjustments into Cost of services, net of tax		5,885			(3,569	)
Portion attributable to Noncontrolling interests, net of tax		6,420			(1,417	)

Net unrealized (losses) gains on cash flow hedges, net of tax, end of period	$	(35,442	)	$	16,929

As of November 30, 2011, $(28,362) of the net unrealized losses on cash flow hedges is expected to be reclassified into earnings in the next 12 months. The ineffective portion of the change in fair value of a cash flow hedge is recognized immediately in Other income, net in the Consolidated Income Statement and, for the three months ended November 30, 2011, was not material. In addition, the Company did not discontinue any cash flow hedges during the three months ended November 30, 2011.

Realized gains or losses and changes in the estimated fair value of foreign currency forward contracts that have not been designated as hedges were a net loss of $(138,778) and a net gain of $39,529 for the three months ended November 30, 2011 and 2010, respectively. Net losses are offset by net foreign currency gains, including net gains related to the underlying balance sheet exposures and are recorded in Other income, net in the Consolidated Income Statement.

Fair Value of Derivative Instruments

The notional and fair values of all derivative instruments were as follows:


	November 30, 2011			August 31, 2011
Assets
Cash Flow Hedges
Other current assets	$	7,725		$	21,714
Other non-current assets		11,310			43,666
Other Derivatives
Other current assets		6,472			13,863

Total assets	$	25,507		$	79,243

Liabilities
Cash Flow Hedges
Other accrued liabilities	$	54,003		$	4,649
Other non-current liabilities		23,244			698
Other Derivatives
Other accrued liabilities		14,822			15,223

Total liabilities	$	92,069		$	20,570

Total fair value	$	(66,562	)	$	58,673

Total notional value	$	4,041,297		$	4,127,456

ACCENTURE PLC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)

(Unaudited)

8. COMMITMENTS AND CONTINGENCIES

Commitments

The Company has the right to purchase or may also be required to purchase substantially all of the remaining outstanding shares of its Avanade Inc. subsidiary (“Avanade”) not owned by the Company at fair value if certain events occur. Certain holders of Avanade common stock and options to purchase the stock have put rights that, under certain circumstances and conditions, would require Avanade to redeem shares of its stock at fair value. As of November 30, 2011 and August 31, 2011, the Company has reflected the fair value of $113,039 and $113,143, respectively, related to Avanade’s redeemable common stock and the intrinsic value of the options on redeemable common stock in Other accrued liabilities on the Consolidated Balance Sheet.

Indemnifications and Guarantees

In the normal course of business and in conjunction with certain client engagements, the Company has entered into contractual arrangements through which it may be obligated to indemnify clients with respect to certain matters. The limitations of liability under these arrangements may be expressly limited or may not be expressly specified in terms of time and/or amount.

As of November 30, 2011 and August 31, 2011, the Company’s aggregate potential liability to its clients for expressly limited guarantees involving the performance of third parties was approximately $891,000 and $976,000, respectively, of which all but approximately $244,000 and $256,000, respectively, may be recovered from the other third parties if the Company is obligated to make payments to the indemnified parties that are the consequence of a performance default by the other third parties. For arrangements with unspecified limitations, the Company cannot reasonably estimate the aggregate maximum potential liability, as it is inherently difficult to predict the maximum potential amount of such payments, due to the conditional nature and unique facts of each particular arrangement.

To date, the Company has not been required to make any significant payment under any of the arrangements described above. The Company has assessed the current status of performance/payment risk related to arrangements with limited guarantees, unspecified limitations and/or indemnification provisions and believes that any potential payments would be immaterial to the Consolidated Financial Statements, as a whole.

Legal Contingencies

As of November 30, 2011, the Company or its present personnel had been named as a defendant in various litigation matters. The Company and/or its personnel also from time to time are involved in investigations by various regulatory or legal authorities concerning matters arising in the course of its business around the world. Based on the present status of these matters, management believes the range of reasonably possible losses in addition to amounts accrued, net of insurance recoveries, will not have a material effect on the Company’s results of operations or financial condition.

9. SEGMENT REPORTING

The Company’s reportable operating segments are the five operating groups, which are Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources. Information regarding the Company’s reportable operating segments is as follows:


	Three Months Ended November 30,
	2011				2010
	Net Revenues		Operating Income		Net Revenues		Operating Income
Communications, Media & Technology (1)	$	1,535,186	$	228,527	$	1,284,476	$	193,241
Financial Services		1,483,839		214,855		1,301,118		244,581
Health & Public Service		1,054,302		112,834		931,600		57,783
Products		1,669,553		218,775		1,396,041		157,261
Resources		1,326,875		206,147		1,128,317		174,069
Other		4,742		—		4,098		—

Total	$	7,074,497	$	981,138	$	6,045,650	$	826,935

(1)	On September 1, 2011, the Company renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related Notes included elsewhere in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended August 31, 2011, and with the information under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended August 31, 2011.

We use the terms “Accenture,” “we,” the “Company,” “our” and “us” in this report to refer to Accenture plc and its subsidiaries. All references to years, unless otherwise noted, refer to our fiscal year, which ends on August 31. For example, a reference to “fiscal 2012” means the 12-month period that will end on August 31, 2012. All references to quarters, unless otherwise noted, refer to the quarters of our fiscal year.

We use the term “in local currency” so that certain financial results may be viewed without the impact of foreign currency exchange rate fluctuations, thereby facilitating period-to-period comparisons of business performance. Financial results “in local currency” are calculated by restating current period activity into U.S. dollars using the comparable prior year period’s foreign currency exchange rates. This approach is used for all results where the functional currency is not the U.S. dollar.

Disclosure Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to:

•

Our results of operations could be adversely affected by volatile, negative or uncertain economic conditions and the effects of these conditions on our clients’ businesses and levels of business activity.

•

Our business depends on generating and maintaining ongoing, profitable client demand for our services and solutions, and a significant reduction in such demand could materially affect our results of operations.

•

If we are unable to keep our supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, our business, the utilization rate of our professionals and our results of operations may be materially adversely affected.

•

The consulting and outsourcing markets are highly competitive, and we might not be able to compete effectively.

•

Our results of operations (including our net revenues and operating income) and the value of balance-sheet items originally denominated in other currencies could be materially adversely affected by unfavorable fluctuations in foreign currency exchange rates.

•

We could have liability or our reputation could be damaged if we fail to protect client and Accenture data or information systems as obligated by law or contract or if our information systems are breached.

•

Our Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose us to operational risks.

•

As a result of our geographically diverse operations and our growth strategy to continue geographic expansion, we are more susceptible to certain risks.

•

Our results of operations could materially suffer if we are not able to obtain sufficient pricing to enable us to meet our profitability expectations.

•

If our pricing estimates do not accurately anticipate the cost, risk and complexity of performing our work or third parties upon which we rely do not meet their commitments, then our contracts could have delivery inefficiencies and be unprofitable.

•

Our work with government clients exposes us to additional risks inherent in the government contracting environment, including risks related to governmental budget and debt constraints.

•

Our business could be materially adversely affected if we incur legal liability in connection with providing our services and solutions.

•

Our results of operations and ability to grow could be materially negatively affected if we cannot adapt and expand our services and solutions in response to ongoing changes in technology and offerings by new entrants.

•

Outsourcing services subject us to different operational risks than our consulting and systems integration services.

•

Our services or solutions could infringe upon the intellectual property rights of others or we might lose our ability to utilize the intellectual property of others.

•

We have only a limited ability to protect our intellectual property rights, which are important to our success.

•

Our ability to attract and retain business and employees may depend on our reputation in the marketplace.

•

Our alliance relationships may not be successful or may change, which could adversely affect our results of operations.

•

We may not be successful at identifying, acquiring or integrating other businesses.

•

Our profitability could suffer if our cost-management strategies are unsuccessful, and we may not be able to improve our profitability through improvements to cost-management to the degree we have done in the past.

•

Many of our contracts include performance payments that link some of our fees to the attainment of performance or business targets and/or require us to meet specific service levels. This could increase the variability of our revenues and impact our margins.

•

Changes in our level of taxes, and audits, investigations and tax proceedings, or changes in our treatment as an Irish company, could have a material adverse effect on our results of operations and financial condition.

•

If we are unable to manage the organizational challenges associated with our size, we might be unable to achieve our business objectives.

•

If we are unable to collect our receivables or unbilled services, our results of operations, financial condition and cash flows could be adversely affected.

•

Our share price and results of operations could fluctuate and be difficult to predict.

•

Our results of operations and share price could be adversely affected if we are unable to maintain effective internal controls.

•

We are incorporated in Ireland and a significant portion of our assets are located outside the United States. As a result, it might not be possible for shareholders to enforce civil liability provisions of the federal or state securities laws of the United States. We may also be subject to criticism and negative publicity related to our incorporation in Ireland.

•

Irish law differs from the laws in effect in the United States and might afford less protection to shareholders.

•

We might be unable to access additional capital on favorable terms or at all. If we raise equity capital, it may dilute our shareholders’ ownership interest in us.

For a more detailed discussion of these factors, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2011. We undertake no obligation to update or revise any forward-looking statements.

Overview

Our results of operations can be affected by economic conditions, including macroeconomic conditions, credit market conditions and levels of business confidence. Revenues are driven by the ability of our executives to secure new contracts and to deliver solutions and services that add value relevant to our clients’ current needs and challenges. The level of revenues we achieve is based on our ability to deliver market-leading service offerings and to deploy skilled teams of professionals quickly and on a global basis.

Revenues before reimbursements (“net revenues”) for the first quarter of fiscal 2012 were $7.07 billion, compared with $6.05 billion for the first quarter of fiscal 2011, an increase of 17% in U.S. dollars and 14% in local currency. All of our operating groups experienced double-digit year-over-year revenue growth in local currency in the first quarter of fiscal 2012, with very strong growth in Products, Communications, Media & Technology and Resources. Based on new contract bookings over the last several quarters, we expect growth to continue in many areas of our business. We also continue to expect the level of year-over-year growth will moderate in the second half of fiscal 2012, particularly in consulting, and vary across operating groups and geographic regions. There continues to be significant volatility in markets around the world, as well as economic and geopolitical uncertainty in many of the markets where we operate. Such volatility and uncertainty, should it continue, could adversely affect our clients and the levels of business activities in the industries and geographies where we operate. We continue to monitor our costs closely in order to respond to changing conditions and to manage any impact to our results of operations.

In our consulting business, net revenues for the first quarter of fiscal 2012 were $4.08 billion, compared with $3.57 billion for the first quarter of fiscal 2011, an increase of 14% in U.S. dollars and 11% in local currency. All five operating groups experienced year-over-year consulting revenue growth in local currency in the first quarter of fiscal 2012, led by very strong growth in Resources and Products. In our consulting business overall, clients are even more focused on initiatives designed to deliver cost savings and operational efficiency, as well as projects to integrate their global operations and grow and transform their businesses. Compared to fiscal 2011, we continued to provide a greater proportion of systems integration consulting through use of lower-cost resources in our Global Delivery Network, and we expect this trend to continue in the medium term. While the business environment remained competitive, pricing was relatively stable and we saw some improvement in certain areas of our business.

In our outsourcing business, net revenues for the first quarter of fiscal 2012 were $2.99 billion, compared with $2.48 billion for the first quarter of fiscal 2011, an increase of 21% in U.S. dollars and 18% in local currency. All five operating groups experienced year-over-year outsourcing revenue growth in local currency in the first quarter of fiscal 2012, led by significant growth in Communications, Media & Technology and Financial Services and very strong growth in Products. This strong demand for outsourcing services resulted in a shift in our mix of work toward outsourcing, particularly in Communications, Media & Technology and Financial Services, and this trend is expected to continue in the near term. Clients continue to be focused on projects that will improve operational effectiveness. Growth in outsourcing was driven by higher volumes, scope and geographic expansions and new work at existing clients, as well as services for new clients. As with systems integration consulting, compared to fiscal 2011, we provided a greater proportion of application outsourcing through use of lower-cost resources in our Global Delivery Network.

As we are a global company, our revenues are denominated in multiple currencies and may be significantly affected by currency exchange-rate fluctuations. If the U.S. dollar weakens against other currencies, resulting in favorable currency translation, our revenues and revenue growth in U.S. dollars may be higher. If the U.S. dollar strengthens against other currencies, resulting in unfavorable currency translation, our revenues and revenue growth in U.S. dollars may be lower. When compared to the first quarter of fiscal 2011, the U.S. dollar weakened against many currencies during the first quarter of fiscal 2012. This resulted in favorable currency translation and U.S. dollar revenue results that were approximately 3% better than our results in local currency for the first quarter of fiscal 2012. Assuming that exchange rates stay within recent ranges for the remainder of fiscal 2012, we estimate the foreign-exchange impact to our full fiscal 2012 revenue growth will be approximately 1% lower growth in U.S. dollars than our growth in local currency.

The primary categories of operating expenses include cost of services, sales and marketing and general and administrative costs. Cost of services is primarily driven by the cost of client-service personnel, which consists mainly of compensation, subcontractor and other personnel costs, and non-payroll outsourcing costs. Cost of services as a percentage of revenues is driven by the prices we obtain for our solutions and services, the utilization of our client-service personnel and the level of non-payroll costs associated with new outsourcing contracts. Utilization primarily represents the percentage of our consulting professionals’ time spent on billable work. Utilization for the first quarter of fiscal 2012 was approximately 87% and within our target range. This level of utilization reflects continued strong demand for resources in our Global Delivery Network and in most countries. We continue to hire to meet current and projected future demand.

We proactively plan and manage the size and composition of our workforce and take actions as needed to address changes in the anticipated demand for our services, given that payroll costs are the most significant portion of our operating expenses. Based on current and projected future demand, we have increased our headcount, the majority of which serve our clients, to more than 244,000 as of November 30, 2011, compared with approximately 236,000 as of August 31, 2011 and 211,000 as of November 30, 2010. The year-over-year increase in our headcount reflects an overall increase in demand for our services, including those delivered through our

Global Delivery Network in lower-cost locations. Annualized attrition, excluding involuntary terminations, for the first quarter of fiscal 2012 was 12%, compared with 14% in the fourth quarter of fiscal 2011 and 15% in the first quarter of fiscal 2011. We adjust levels of new hiring, evaluate voluntary attrition and use involuntary terminations as means to keep our supply of skills and resources in balance with client demand. In addition, we also adjust compensation in certain skill sets and geographies in order to attract and retain appropriate numbers of qualified employees, and we may need to continue to adjust compensation in the future. For the majority of our personnel, compensation increases for fiscal 2012 became effective September 1, 2011. As in prior fiscal years, we strive to adjust pricing and/or the mix of resources to reduce the impact of compensation increases on our gross margin. Our ability to grow our revenues and increase our margins could be adversely affected if we are unable to keep our supply of skills and resources in balance with client demand, mobilize our employees globally on a timely basis, manage attrition, recover increases in compensation and/or effectively assimilate and utilize new employees.

Gross margin (Net revenues less Cost of services before reimbursable expenses as a percentage of Net revenues) for the first quarter of fiscal 2012 was 31.8%, compared with 32.2% for the first quarter of fiscal 2011. Gross margin for the first quarter of fiscal 2012 was lower than the first quarter of fiscal 2011, principally due to higher payroll costs in the first quarter of fiscal 2012, partially offset by lower non-payroll costs and a favorable foreign-exchange impact.

Sales and marketing and general and administrative costs as a percentage of net revenues were 18.0% for the first quarter of fiscal 2012, compared with 18.5% for the first quarter of fiscal 2011. Sales and marketing costs are driven primarily by compensation costs for business-development activities, investment in offerings, and marketing- and advertising-related activities. General and administrative costs primarily include costs for non-client-facing personnel, information systems and office space. We continuously monitor these costs and implement cost-management actions, as appropriate, to maintain or lower these costs as a percentage of revenues. These actions include performing a greater proportion of general and administrative activities in lower-cost locations. For the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011, both sales and marketing and general and administrative costs decreased approximately 0.3% as a percentage of net revenues. The decreases were due to growth of these costs at a rate lower than that of net revenues. In addition, in the first quarter of fiscal 2011, we recorded a reduction in the allowance for client receivables and unbilled services due to better than expected bad debt experience. We continue to expect the reduction in general and administrative costs as a percentage of net revenues to moderate in fiscal 2012. Our margins could be adversely affected if our cost-management actions are not sufficient to maintain sales and marketing and general and administrative costs at or below current levels as a percentage of net revenues.

Operating income for the first quarter of fiscal 2012 was $981 million, compared with $827 million for the first quarter of fiscal 2011. Operating margin (Operating income as a percentage of Net revenues) for the first quarter of fiscal 2012 was 13.9%, compared with 13.7% for the first quarter of fiscal 2011.

Our Operating income and Earnings per share are also affected by currency exchange-rate fluctuations on revenues and costs. Most of our costs are incurred in the same currency as the related net revenues. Where practical, we also seek to manage foreign currency exposure for costs not incurred in the same currency as the related net revenues by using currency protection provisions in our customer contracts and through our hedging programs. We estimate that the aggregate percentage impact of foreign exchange rates on our operating expenses is similar to that disclosed for net revenues.

Bookings and Backlog

New contract bookings for the first quarter of fiscal 2012 were $7.79 billion, with consulting bookings of $4.24 billion and outsourcing bookings of $3.55 billion.

We provide information regarding our new contract bookings because we believe doing so provides useful trend information regarding changes in the volume of our new business over time. However, new bookings can vary significantly quarter to quarter depending in part on the timing of the signing of a small number of large outsourcing contracts. Clients continue to seek flexibility by using a phased approach to contracting consulting work, which is resulting in smaller initial total contract values than in the past. Information regarding our new bookings is not comparable to, nor should it be substituted for, an analysis of our revenues over time. There are no third-party standards or requirements governing the calculation of bookings. New contract bookings involve estimates and judgments regarding new contracts as well as renewals, extensions and changes to existing contracts. We do not update our new bookings for material subsequent terminations or reductions related to bookings originally recorded in prior fiscal years. New contract bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations.

The majority of our contracts are terminable by the client on short notice, and some without notice. Accordingly, we do not believe it is appropriate to characterize bookings attributable to these contracts as backlog. Normally, if a client terminates a project, the client remains obligated to pay for commitments we have made to third parties in connection with the project, services performed and reimbursable expenses incurred by us through the date of termination.

Revenues by Segment/Operating Group

Our five reportable operating segments are our operating groups, which are Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources. Operating groups are managed on the basis of net revenues because our management believes net revenues are a better indicator of operating group performance than revenues. In addition to reporting net revenues by operating group, we also report net revenues by two types of work: consulting and outsourcing, which represent the services sold by our operating groups. Consulting net revenues, which include management and technology consulting and systems integration, reflect a finite, distinct project or set of projects with a defined outcome and typically a defined set of specific deliverables. Outsourcing net revenues typically reflect ongoing, repeatable services or capabilities provided to transition, run and/or manage operations of client systems or business functions.

From time to time, our operating groups work together to sell and implement certain contracts. The resulting revenues and costs from these contracts may be apportioned among the participating operating groups. Generally, operating expenses for each operating group have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on the industries served by our operating groups affect revenues and operating expenses within our operating groups to differing degrees. The mix between consulting and outsourcing is not uniform among our operating groups. Local currency fluctuations also tend to affect our operating groups differently, depending on the geographic concentrations and locations of their businesses.

While we provide discussion about our results of operations below, we cannot measure how much of our revenue growth in a particular period is attributable to changes in price or volume. Management does not track standard measures of unit or rate volume. Instead, our measures of volume and price are extremely complex, as each of our services contracts is unique, reflecting a customized mix of specific services that does not fit into standard comparability measurements. Pricing for our services is a function of the nature of each service to be provided, the skills required and outcome sought, as well as estimated cost, risk, contract terms and other factors.

Results of Operations for the Three Months Ended November 30, 2011 Compared to the Three Months Ended November 30, 2010

Net revenues (by operating group, geographic region and type of work) and reimbursements were as follows:


	Three Months Ended November 30,				Percent Increase U.S. Dollars			Percent Increase Local Currency			Percent of Total Net Revenues for the Three Months Ended November 30,
	2011		2010		Percent Increase U.S. Dollars			Percent Increase Local Currency			2011			2010
	(in millions of U.S. dollars)
OPERATING GROUPS
Communications, Media & Technology (1)	$	1,535	$	1,284		20	%		16	%		22	%		21	%
Financial Services		1,484		1,301		14			11			21			22
Health & Public Service		1,054		932		13			11			15			15
Products		1,670		1,396		20			17			23			23
Resources		1,327		1,128		18			15			19			19
Other		5		4		n/m			n/m			—			—

TOTAL NET REVENUES (2)		7,074		6,046		17	%		14	%		100	%		100	%

Reimbursements		515		433		19

TOTAL REVENUES (2)	$	7,589	$	6,478		17	%

GEOGRAPHIC REGIONS
Americas	$	3,075	$	2,633		17	%		16	%		43	%		43	%
EMEA (3)		3,009		2,638		14			10			43			44
Asia Pacific		991		775		28			20			14			13

TOTAL NET REVENUES (2)	$	7,074	$	6,046		17	%		14	%		100	%		100	%

TYPE OF WORK
Consulting	$	4,083	$	3,568		14	%		11	%		58	%		59	%
Outsourcing		2,991		2,478		21			18			42			41

TOTAL NET REVENUES	$	7,074	$	6,046		17	%		14	%		100	%		100	%

n/m = not meaningful

(1)	On September 1, 2011, we renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

(2)	May not total due to rounding.

(3)	EMEA includes Europe, the Middle East and Africa.

Net Revenues

The following net revenues commentary discusses local currency net revenue changes for the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011:

Operating Groups

•

Communications, Media & Technology net revenues increased 16% in local currency. Consulting revenues increased, driven primarily by growth in Communications in Americas. Outsourcing revenues reflected significant growth, driven by strong demand for our outsourcing services across all geographic regions and industry groups.

•

Financial Services net revenues increased 11% in local currency. Consulting revenues reflected modest growth, driven by very strong growth in Insurance across all geographic regions, partially offset by a decline in Banking and Capital Markets in Americas and EMEA. The uncertainty in the banking and capital markets industries had an impact on our consulting revenue growth in the first quarter of fiscal 2012. Outsourcing revenues reflected significant growth, driven by strong demand for our outsourcing services across all geographic regions and industry groups, led by Americas and EMEA.

•

Health & Public Service net revenues increased 11% in local currency. Consulting revenues reflected strong growth, driven primarily by Health in Americas and Asia Pacific. Outsourcing revenues increased due primarily to growth in Health in Americas. The uncertainty and challenges in the public sector, particularly in the United States, the United Kingdom and several other countries, continue to have an impact on demand in our public service business.

•

Products net revenues increased 17% in local currency. Consulting revenues reflected very strong growth, driven by growth across all geographic regions and industry groups, led by Consumer Goods & Services, Retail and Automotive. Outsourcing revenues also reflected very strong growth, driven by growth across all geographic regions and industry groups, led by Air, Freight & Travel Services and Life Sciences.

•

Resources net revenues increased 15% in local currency. Consulting revenues reflected very strong growth, driven by growth across all geographic regions and most industry groups, led by Energy. Outsourcing revenues increased, driven by growth in Natural Resources and Energy across all geographic regions.

Geographic Regions

•

Americas net revenues increased 16% in local currency, led by the United States, Brazil and Canada.

•

EMEA net revenues increased 10% in local currency, driven by growth in most countries, led by the United Kingdom, Finland, the Netherlands, France, Italy and South Africa.

•

Asia Pacific net revenues increased 20% in local currency, led by Australia, Japan, China, Singapore, India and Malaysia.

Operating Expenses

Operating expenses for the first quarter of fiscal 2012 were $6,608 million, an increase of $957 million, or 17%, over the first quarter of fiscal 2011, and decreased as a percentage of revenues to 87.1% from 87.2% during this period. Operating expenses before reimbursable expenses for the first quarter of fiscal 2012 were $6,093 million, an increase of $875 million, or 17%, over the first quarter of fiscal 2011, and decreased as a percentage of net revenues to 86.1% from 86.3% during this period.

Cost of Services

Cost of services for the first quarter of fiscal 2012 was $5,338 million, an increase of $804 million, or 18%, over the first quarter of fiscal 2011, and increased as a percentage of revenues to 70.3% from 70.0% during this period. Cost of services before reimbursable expenses for the first quarter of fiscal 2012 was $4,823 million, an increase of $722 million, or 18%, over the first quarter of fiscal 2011, and increased as a percentage of net revenues to 68.2% from 67.8% during this period. Gross margin for the first quarter of fiscal 2012 decreased to 31.8% from 32.2% during this period, principally due to higher payroll costs in the first quarter of fiscal 2012, partially offset by lower non-payroll costs and a favorable foreign-exchange impact.

Sales and Marketing

Sales and marketing expense for the first quarter of fiscal 2012 was $837 million, an increase of $106 million, or 14%, over the first quarter of fiscal 2011, and decreased as a percentage of net revenues to 11.8% from 12.1% during this period. This decrease as a percentage of net revenues was due to growth of business development costs at a rate lower than that of net revenues.

General and Administrative Costs

General and administrative costs for the first quarter of fiscal 2012 were $433 million, an increase of $47 million, or 12%, over the first quarter of fiscal 2011, and decreased as a percentage of net revenues to 6.1% from 6.4% during this period. The decrease as a percentage of net revenues was primarily due to management of these costs at a growth rate lower than that of net revenues. In addition, in the first quarter of fiscal 2011, we recorded a reduction in the allowance for client receivables and unbilled services due to better than expected bad debt experience.

Operating Income and Operating Margin

Operating income for the first quarter of fiscal 2012 was $981 million, an increase of $154 million, or 19%, over the first quarter of fiscal 2011, and increased as a percentage of net revenues to 13.9% from 13.7% during this period. Operating income and operating margin for each of the operating groups were as follows:


	Three Months Ended November 30,										Increase (Decrease) (2)
	2011					2010
	Operating Income		Operating Margin			Operating Income		Operating Margin
	(in millions of U.S. dollars)
Communications, Media & Technology (1)	$	229		15	%	$	193		15	%	$	35
Financial Services		215		14			245		19			(30	)
Health & Public Service		113		11			58		6			55
Products		219		13			157		11			62
Resources		206		16			174		15			32

Total (2)	$	981		13.9	%	$	827		13.7	%	$	154

(1)	On September 1, 2011, we renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

(2)	May not total due to rounding.

We estimate that the aggregate percentage impact of foreign currency exchange rates on our Operating income during the first quarter of fiscal 2012 was similar to that disclosed for Net revenues. During the first quarter of fiscal 2012, each operating group benefited from our management of general and administrative costs at a growth rate lower than that of our net revenues. In addition, in the first quarter of fiscal 2011, we recorded a reduction in the allowance for client receivables and unbilled services due to better than expected bad debt experience. The commentary below provides additional insight into operating group performance and operating margin for the first quarter of fiscal 2012, compared with the first quarter of fiscal 2011, exclusive of these impacts.

•

Communications, Media & Technology operating income increased, primarily due to revenue growth.

•

Financial Services operating income decreased, primarily due to lower contract profitability, higher sales and marketing costs as a percentage of net revenues and costs related to recent acquisitions, partially offset by strong outsourcing revenue growth.

•

Health & Public Service operating income increased due to revenue growth, improved consulting contract profitability and lower sales and marketing costs as a percentage of net revenues.

•

Products operating income increased, primarily driven by revenue growth and improved outsourcing and consulting contract profitability.

•

Resources operating income increased, primarily driven by strong revenue growth.

Other Income, net

Other income, net for the first quarter of fiscal 2012 was $6 million, a decrease of $7 million from the first quarter of fiscal 2011. The change was driven by lower net foreign exchange gains during the first quarter of fiscal 2012.

Provision for Income Taxes

The effective tax rate for both the first quarter of fiscal 2012 and fiscal 2011 was 28.3%.

Our provision for income taxes is based on many factors and subject to volatility year to year. We expect the fiscal 2012 annual effective tax rate to be in the range of 27% to 28%. The fiscal 2011 annual effective tax rate was 27.3%.

Net Income Attributable to Noncontrolling Interests

Net income attributable to noncontrolling interests for the first quarter of fiscal 2012 was $70 million, a decrease of $1 million, or 2%, from the first quarter of fiscal 2011. The decrease was due to a reduction in the Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares average noncontrolling ownership interest to 9% for the first quarter of fiscal 2012 from 11% for the first quarter of fiscal 2011, offset by higher Net income of $106 million.

Earnings Per Share

Diluted earnings per share were $0.96 for the first quarter of fiscal 2012, compared with $0.81 for the first quarter of fiscal 2011. The $0.15 increase in our earnings per share was due to increases of $0.12 from higher revenues and operating results in local currency, $0.02 from favorable foreign currency exchange rates and $0.02 from lower weighted average shares outstanding, compared with the first quarter of fiscal 2011. These increases were partially offset by a decrease of $0.01 from lower non-operating income. For information regarding our earnings per share calculations, see Note 2 (Earnings Per Share) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

Liquidity and Capital Resources

Our primary sources of liquidity are cash flows from operations, available cash reserves and debt capacity available under various credit facilities. In addition, we could raise additional funds through public or private debt or equity financings. We may use our available or additional funds to:

•

take advantage of opportunities, including more rapid expansion;

•

acquire complementary businesses or technologies;

•

develop new services and solutions; or

•

facilitate purchases, redemptions and exchanges of Accenture shares.

As of November 30, 2011, Cash and cash equivalents was $5.1 billion, compared with $5.7 billion as of August 31, 2011.

Cash flows from operating, investing and financing activities, as reflected in our Consolidated Cash Flows Statements, are summarized in the following table:


	Three Months Ended November 30,						Change
	2011			2010			Change
	(in millions of U.S. dollars)
Net cash provided by (used in):
Operating activities	$	475		$	106		$	369
Investing activities		(240	)		(135	)		(105	)
Financing activities		(588	)		(704	)		116
Effect of exchange rate changes on cash and cash equivalents		(257	)		54			(311	)

Net decrease in cash and cash equivalents (1)	$	(609	)	$	(678	)	$	69

(1)	May not total due to rounding.

Operating activities: The $369 million increase in cash provided by operating activities was primarily due to higher net income and changes in other operating assets and liabilities, including higher client prepayments in fiscal 2012.

Investing activities: The $105 million increase in cash used was primarily due to increased spending on business acquisitions. For additional information, see Note 5 (Business Combinations and Goodwill) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

Financing activities: The $116 million decrease in cash used was primarily due to decreased net purchases of shares, partially offset by an increase in cash dividends paid. For additional information, see Note 6 (Shareholders’ Equity) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

We believe that our available cash balances and the cash flows expected to be generated from operations will be sufficient to satisfy our current and planned working capital and investment needs for the next twelve months. We also believe that our longer-term working capital and other general corporate funding requirements will be satisfied through cash flows from operations and, to the extent necessary, from our borrowing facilities and future financial market activities.

Borrowing Facilities

As of November 30, 2011, we had the following borrowing facilities, including the issuance of letters of credit, to support general working capital purposes:


	Facility Amount		Borrowings Under Facilities
	(in millions of U.S. dollars)
Syndicated loan facility (1)	$	1,000	$	—
Separate, uncommitted, unsecured multicurrency revolving credit facilities		473		—
Local guaranteed and non-guaranteed lines of credit		156		—

Total	$	1,629	$	—

(1)

On October 31, 2011, we replaced our $1.2 billion syndicated loan facility maturing on July 31, 2012 with a $1.0 billion syndicated loan facility maturing on October 31, 2016. This new facility provides unsecured, revolving borrowing capacity for general working capital purposes, including the issuance of letters of credit. Financing is provided under this facility at the prime rate or at the London Interbank Offered Rate plus a spread. This facility requires us to: (1) limit liens placed on our assets to (a) liens incurred in the ordinary course of business (subject to certain qualifications) and (b) other liens securing obligations not to exceed 30% of our consolidated assets; and (2) maintain a debt-to-cash-flow ratio not exceeding 1.75 to 1.00. As of November 30, 2011, we were in compliance with these terms. The facility is subject to annual commitment fees. As of November 30, 2011, we had no borrowings under the facility.

Under the borrowing facilities described above, we had an aggregate of $167 million of letters of credit outstanding as of November 30, 2011. In addition, we had total outstanding debt of $6 million as of November 30, 2011.

Share Purchases and Redemptions

The Board of Directors of Accenture plc has authorized funding for our publicly announced open-market share purchase program for acquiring Accenture plc Class A ordinary shares and for purchases and redemptions of Accenture plc Class A ordinary shares, Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares held by our current and former senior executives and their permitted transferees. As of November 30, 2011, our aggregate available authorization was $5,833 million for our publicly announced open-market share purchase and these other share purchase programs.

Our share purchase activity during the first quarter of fiscal 2012 was as follows:


	Accenture plc Class A Ordinary Shares				Accenture SCA Class I Common Shares and Accenture Canada Holdings Inc. Exchangeable Shares
	Shares		Amount		Shares		Amount
	(in millions of U.S. dollars, except share amounts)
Open-market share purchases (1)		3,395,500	$	178		—	$	—
Other share purchase programs		—		—		536,661		31
Other purchases (2)		1,411,284		77		—		—

Total (3)		4,806,784	$	254		536,661	$	31

(1)	We conduct a publicly announced, open-market share purchase program for Accenture plc Class A ordinary shares. These shares are held as treasury shares by Accenture plc and may be utilized to provide for select employee benefits, such as equity awards to our employees.

(2)

During the first quarter of fiscal 2012, as authorized under our various employee equity share plans, we acquired Accenture plc Class A ordinary shares via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under those plans. These purchases of shares in connection with employee share plans do not affect our aggregate available authorization for our publicly announced open-market share purchase and the other share purchase programs.

(3)	May not total due to rounding.

We intend to continue to use a significant portion of cash generated from operations for share repurchases during the remainder of fiscal 2012. The number of shares ultimately repurchased under our open-market share purchase program may vary depending on numerous factors, including, without limitation, share price and other market conditions, our ongoing capital allocation planning, the levels of cash and debt balances, other demands for cash, such as acquisition activity, general economic and/or business conditions, and board and management discretion. Additionally, as these factors may change over the course of the year, the amount of share repurchase activity during any particular period cannot be predicted and may fluctuate from time to time. Share repurchases may be made from time to time through open-market purchases, in respect of purchases and redemptions of Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, through the use of Rule 10b5-1 plans and/or by other means. The repurchase program may be accelerated, suspended, delayed or discontinued at any time, without notice.

Other Share Redemptions

During the first quarter of fiscal 2012, we issued 1,074,712 Accenture plc Class A ordinary shares upon redemptions of an equivalent number of Accenture SCA Class I common shares pursuant to our registration statement on Form S-3 (the “registration statement”). The registration statement allows us, at our option, to issue freely tradable Accenture plc Class A ordinary shares in lieu of cash upon redemptions of Accenture SCA Class I common shares held by senior executives, former executives and their permitted transferees.

For a complete description of all share purchase and redemption activity for the first quarter of fiscal 2012, see Part II, Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds.”

Off-Balance Sheet Arrangements

In the normal course of business and in conjunction with some client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients with respect to certain matters. These arrangements with clients can include provisions whereby we have joint and several liability in relation to the performance of certain contractual obligations along with third parties also providing services and products for a specific project. Indemnification provisions are also included in arrangements under which we agree to hold the indemnified party harmless with respect to third party claims related to such matters as title to assets sold or licensed or certain intellectual property rights.

Typically, we have contractual recourse against third parties for certain payments made by us in connection with arrangements where third party nonperformance has given rise to the client’s claim. Payments by us under any of the arrangements described above are generally conditioned on the client making a claim which may be disputed by us, typically under dispute resolution procedures specified in the particular arrangement. The limitations of liability under these arrangements may be expressly limited or may not be expressly specified in terms of time and/or amount.

For arrangements with unspecified limitations, we cannot reasonably estimate the aggregate maximum potential liability, as it is inherently difficult to predict the maximum potential amount of such payments, due to the conditional nature and unique facts of each particular arrangement.

To date, we have not been required to make any significant payment under any of the arrangements described above. For further discussion of these transactions, see Note 8 (Commitments and Contingencies) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

During the first quarter of fiscal 2012, there were no material changes in our market risk exposure. For a discussion of our market risk associated with foreign currency risk, interest rate risk and equity price risk as of August 31, 2011, see “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A, of our Annual Report on Form 10-K for the year ended August 31, 2011.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

An evaluation was performed under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Based on that evaluation, the principal executive officer and the principal financial officer of Accenture plc have concluded that, as of the end of the period covered by this report, our disclosure controls and procedures are effective at the reasonable assurance level.

Changes in Internal Control Over Financial Reporting

There has been no change in our internal control over financial reporting that occurred during the first quarter of fiscal 2012 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are involved in a number of judicial and arbitration proceedings concerning matters arising in the ordinary course of our business. We and/or our personnel also from time to time are involved in investigations by various regulatory or legal authorities concerning matters arising in the course of our business around the world. We do not expect that any of these matters, individually or in the aggregate, will have a material impact on our results of operations or financial condition.

We currently maintain the types and amounts of insurance customary in the industries and countries in which we operate, including coverage for professional liability, general liability and management liability. We consider our insurance coverage to be adequate both as to the risks and amounts for the businesses we conduct.

ITEM 1A. RISK FACTORS

For a discussion of our potential risks and uncertainties, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2011. There have been no material changes to risk factors disclosed in our Annual Report on Form 10-K for the year ended August 31, 2011.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Purchases and redemptions of Accenture plc Class A ordinary shares and Class X ordinary shares

The following table provides information relating to our purchases of Accenture plc Class A ordinary shares and redemptions of Accenture plc Class X ordinary shares during the first quarter of fiscal 2012.


Period	Total Number of Shares Purchased		Average Price Paid per Share (1)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)		Approximate Dollar Value of Shares that May Yet Be Purchased Under Publicly Announced Plans or Programs (3)
							(in millions of U.S. dollars)
September 1, 2011 — September 30, 2011
Class A ordinary shares		3,825,442	$	52.28		3,130,900	$	5,874
Class X ordinary shares		70,816	$	0.0000225		—		—
October 1, 2011 — October 31, 2011
Class A ordinary shares		759,732	$	54.61		182,000	$	5,844
Class X ordinary shares		1,058,232	$	0.0000225		—		—
November 1, 2011 — November 30, 2011
Class A ordinary shares		221,610	$	57.52		82,600	$	5,833
Class X ordinary shares		351,652	$	0.0000225		—		—
Total
Class A ordinary shares (4)		4,806,784	$	52.89		3,395,500
Class X ordinary shares (5)		1,480,700	$	0.0000225		—

(1)	Average price per share reflects the total cash outlay for the period, divided by the number of shares acquired, including those acquired by purchase or redemption and any acquired by means of employee forfeiture.

(2)

Since August 2001, the Board of Directors of Accenture plc has authorized and periodically confirmed a publicly announced open-market share purchase program for acquiring Accenture plc Class A ordinary shares. During the first quarter of fiscal 2012, we purchased 3,395,500 Accenture plc Class A ordinary shares under this program for an aggregate price of $178 million. The open-market purchase program does not have an expiration date.

(3)

As of November 30, 2011, our aggregate available authorization for share purchases and redemptions was $5,833 million, which management has the discretion to use for either our publicly announced open-market share purchase program or the other share purchase programs. Since August 2001 and as of November 30, 2011, the Board of Directors of Accenture plc has authorized an aggregate of $20.1 billion for purchases and redemptions of Accenture plc Class A ordinary shares, Accenture SCA Class I common shares or Accenture Canada Holdings Inc. exchangeable shares.

(4)

During the first quarter of fiscal 2012, Accenture purchased 1,411,284 Accenture plc Class A ordinary shares in transactions unrelated to publicly announced share plans or programs. These transactions consisted of acquisitions of Accenture plc Class A ordinary shares via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under our various employee equity share plans. These purchases of shares in connection with employee share plans do not affect our aggregate available authorization for our publicly announced open-market share purchase and the other share purchase programs.

(5)	During the first quarter of fiscal 2012, we redeemed 1,480,700 Accenture plc Class X ordinary shares pursuant to our articles of association. Accenture plc Class X ordinary shares are redeemable at their par value of $0.0000225 per share.

Purchases and redemptions of Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares

The following table provides additional information relating to our purchases and redemptions of Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares for cash during the first quarter of fiscal 2012. We believe that the following table and footnotes provide useful information regarding the share purchase and redemption activity of Accenture. Generally, purchases and redemptions of Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares for cash reduce shares outstanding for purposes of computing diluted earnings per share.


Period	Total Number of Shares Purchased (1)		Average Price Paid per Share (2)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Approximate Dollar Value of Shares that May Yet Be Purchased Under Publicly Announced Plans or Programs (3)
							(in millions of U.S. dollars)
Accenture SCA
September 1, 2011 — September 30, 2011
Class I common shares		79,292	$	53.34		—		—
October 1, 2011 — October 31, 2011
Class I common shares		339,432	$	58.39		—		—
November 1, 2011 — November 30, 2011
Class I common shares		117,437	$	57.91		—		—
Total
Class I common shares		536,161	$	57.54		—		—
Accenture Canada Holdings Inc.
September 1, 2011 — September 30, 2011
Exchangeable shares		—		—		—		—
October 1, 2011 — October 31, 2011
Exchangeable shares		500	$	61.06		—		—
November 1, 2011 — November 30, 2011
Exchangeable shares		—		—		—		—
Total
Exchangeable shares		500	$	61.06		—		—

(1)

During the first quarter of fiscal 2012, we acquired a total of 536,161 Accenture SCA Class I common shares and 500 Accenture Canada Holdings Inc. exchangeable shares from current and former senior executives and their permitted transferees. This includes acquisitions by means of purchase or redemption, or employee forfeiture, as applicable. In addition, during the first quarter of fiscal 2012, we issued 1,074,712 Accenture plc Class A ordinary shares upon redemptions of an equivalent number of Accenture SCA Class I common shares pursuant to the registration statement.

(2)	Average price per share reflects the total cash outlay for the period, divided by the number of shares acquired, including those acquired by purchase or redemption and any acquired by means of employee forfeiture.

(3)

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. (REMOVED AND RESERVED)

ITEM 5. OTHER INFORMATION

(a) None.

(b) None.

ITEM 6. EXHIBITS

Exhibit Index:


Exhibit Number		Exhibit
3.1		Memorandum and Articles of Association of Accenture plc (incorporated by reference to Exhibit 3.1 to Accenture plc’s 8-K12B filed on September 1, 2009)

10.1		Form of Articles of Association of Accenture SCA, updated as of November 15, 2010 (incorporated by reference to Exhibit 10.1 to the November 30, 2010 10-Q)

31.1		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1		Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101		The following financial information from Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended November 30, 2011, formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of November 30, 2011 (Unaudited) and August 31, 2011, (ii) Consolidated Income Statements (Unaudited) for the three months ended November 30, 2011 and 2010, (iii) Consolidated Shareholders’ Equity and Comprehensive Income Statements (Unaudited) for the three months ended November 30, 2011, (iv) Consolidated Cash Flows Statements (Unaudited) for the three months ended November 30, 2011 and 2010 and (v) the Notes to Consolidated Financial Statements (Unaudited)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: December 20, 2011


ACCENTURE PLC

By:		/s/ Pamela J. Craig
Name:		Pamela J. Craig
Title:		Chief Financial Officer

EXHIBIT INDEX


Exhibit Number		Exhibit
3.1		Memorandum and Articles of Association of Accenture plc (incorporated by reference to Exhibit 3.1 to Accenture plc’s 8-K12B filed on September 1, 2009)

10.1		Form of Articles of Association of Accenture SCA, updated as of November 15, 2010 (incorporated by reference to Exhibit 10.1 to the November 30, 2010 10-Q)

31.1		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1		Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101		The following financial information from Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended November 30, 2011, formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of November 30, 2011 (Unaudited) and August 31, 2011, (ii) Consolidated Income Statements (Unaudited) for the three months ended November 30, 2011 and 2010, (iii) Consolidated Shareholders’ Equity and Comprehensive Income Statements (Unaudited) for the three months ended November 30, 2011, (iv) Consolidated Cash Flows Statements (Unaudited) for the three months ended November 30, 2011 and 2010 and (v) the Notes to Consolidated Financial Statements (Unaudited)

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