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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 
 FORM 10-K
 (Mark One)
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended August 31, 2005
 OR
 o
    
    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: 001-49713
 
 ACCENTURE SCA
 (Exact name of Registrant as specified in its charter)
 Luxembourg
    
    98-0351796(State or other jurisdiction of
    
    (I.R.S. Employer Identification No.)incorporation or organization)
 46A, Avenue J.F. Kennedy
L-1855 Luxembourg
(Address of principal executive offices)
 (352) 26 42 35 00
(Registrants telephone number, including area code)
   
  
 þ o
 þ
 þ o
 þ o
 
 




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TABLE OF CONTENTS
 PagePart IItem 1.
    
    Business
    
    
    1Item 2.
    
    Properties
    
    
    23Item 3.
    
    Legal Proceedings
    
    
    23Item 4.
    
    Submission of Matters to a Vote of Security Holders
    
    
    23Part IIItem 5.
    
    Market for Registrants Common Equity, Related Shareholder Matters and Issuer Purchases of
Equity Securities
    
    
    24Item 6.
    
    Selected Financial Data
    
    
    26Item 7.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    27Item 7A.
    
    Quantitative and Qualitative Disclosures about Market Risk
    
    
    46Item 8.
    
    Financial Statements and Supplementary Data
    
    
    47Item 9.
    
    Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
    
    
    47Item 9A.
    
    Controls and Procedures
    
    
    47Item 9B.
    
    Other Information
    
    
    48Part IIIItem 10.
    
    Directors and Executive Officers of the Registrant
    
    
    49Item 11.
    
    Executive Compensation
    
    
    49Item 12.
    
    Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters
    
    
    49Item 13.
    
    Certain Relationships and Related Transactions
    
    
    50Item 14.
    
    Principal Accounting Fees and Services
    
    
    50Part IVItem 15.
    
    Exhibits, Financial Statement Schedules
    
    
    51




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PART I
 Disclosure Regarding Forward-Looking Statements
  Available Information
 www.accenture.com
   ITEM 1. BUSINESS
 Overview
    1




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Consulting, Technology and Outsourcing Services and Solutions
    Operating Groups
   Operating GroupsCommunications
    
    Financial& High Tech
    
    Services
    
    Products
    
    Resources
    
    Government Communications
    
     Banking
    
     Automotive
    
     Chemicals
    
     Government Electronics & High Tech
    
     Capital Markets
    
     Consumer Goods
    
     Energy Media & Entertainment
    
     Insurance
    
    & Services
    
     Natural Resources Health & Life Sciences
    
     Utilities Industrial Equipment Retail Transportation &Travel Services
 Communications & High Tech
  
    
    Communications.Our Communications industry group serves many of the worlds leading
wireline, wireless, cable and satellite communications network operators and service
providers. We provide a wide range of services designed to help our communications
clients increase margins, improve asset utilization, improve customer retention,
increase revenues, reduce overall costs and accelerate sales cycles. We offer a suite
of reusable solutions, called Accenture Communications Solutions, designed to address
major business and operational issues related to broadband and Internet protocol-based
networks and services, including business intelligence, billing transformation, customer
contact transformation, sales force transformation, service fulfillment, and
next-generation network optimization. Our Communications industry group represented
approximately 66% of our Communications & High Tech operating groups revenues before
reimbursements in fiscal 2005.
 2




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
    
    Electronics & High Tech.Our Electronics & High Tech industry group serves the
network equipment, consumer electronics, software, semiconductor, aerospace, defense and
enterprise computing segments. This industry group provides services in areas such as
strategy, enterprise resource management, customer relationship management, supply chain
management, software development, human performance, and merger/acquisition activities,
including post-merger integration. We also offer a suite of reusable solutions, called
Accenture High Tech Solutions, designed to address the industrys major business and
operational challenges, such as commoditization, globalization and disruptive
technologies.
    
    Media & Entertainment.Our Media & Entertainment industry group serves the
broadcast, entertainment (television, music and movie), print, publishing and portal
industries. Professionals in this industry group provide a wide range of services,
including digital content solutions designed to help companies effectively manage,
distribute and protect content across numerous media channels.
 Financial Services
  
    
    Banking.Our Banking industry group works with traditional retail and commercial
banks, diversified financial enterprises and a variety of niche players and innovators.
We help these organizations develop and execute strategies to target, acquire and retain
customers more effectively, expand product and service offerings, comply with new
regulatory initiatives, and leverage new technologies and distribution channels. Our
Banking industry group represented approximately 54% of our Financial Services operating
groups revenues before reimbursements in fiscal 2005.
    
    Capital Markets.Our Capital Markets industry group helps investment banks,
broker/dealers, asset management firms, depositories, clearing organizations and
exchanges improve operational efficiency and transform their businesses to remain
competitive.
    
    Insurance.Our Insurance industry group helps property and casualty insurers, life
insurers, reinsurance firms and insurance brokers improve business processes, develop
Internet-based insurance businesses and improve the quality and consistency of risk
selection decisions. Our Insurance industry group has also developed a claims
management capability that enables insurers to provide better customer service while
optimizing claims costs. We also provide a variety of outsourced solutions to help
insurers improve working capital and cash flow, deliver permanent cost savings and
enhance long-term growth. Our Insurance industry group represented approximately 30% of
our Financial Services operating groups revenues before reimbursements in fiscal 2005.
 Products
  
    
    Automotive.Our Automotive industry group works with auto manufacturers, suppliers,
dealers, retailers and service providers. Professionals in this industry group help
clients develop and implement innovative solutions focused on product development and
commercialization, customer service and retention, channel strategy and management,
branding, buyer-driven business models, cost reduction, customer relationship management
and integrated supplier partnerships.
    
    Consumer Goods & Services. Our Consumer Goods & Services industry group serves food,
beverage, household goods and personal care, tobacco and footwear/apparel manufacturers
around the world. We add value to these companies through service offerings designed to
enhance performance by addressing critical elements of success, including sales and
marketing productivity, customer and consumer insight, working capital productivity
improvement, supply chain collaboration, and overhead productivity improvement.
 3




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
    
    Health & Life Sciences.Our Health & Life Sciences industry group works with
healthcare providers, government health departments, policy-making
authorities/regulators, managed care organizations, health insurers and pharmaceutical,
biotechnology, medical products and other industry-related companies to improve the
quality, accessibility and affordability of healthcare. Our key offerings include
health clinical transformation, electronic health records and hospital back-office
services in the provider/government segment; research and development transformation,
commercial effectiveness and customer interaction, and integrated electronic compliance
(manufacturing and supply chain) in the pharmaceuticals and medical products segment;
and health information and data management, claims excellence/cost containment and
health plan back-office services in the payor segment.
    
    Industrial Equipment.Our Industrial Equipment industry group serves the industrial
and electrical equipment, construction, consumer durable and heavy equipment industries.
We help our clients increase operating and supply chain efficiencies by improving
processes and leveraging technology. We also work with clients to generate value from
strategic mergers and acquisitions. In addition, our Industrial Equipment industry
group develops and deploys innovative solutions in the areas of channel management,
collaborative product design, remote field maintenance, enterprise application
integration and outsourcing.
    
    Retail.Our Retail industry group serves a wide spectrum of retailers and
distributors, including supermarkets, specialty premium retailers and large
mass-merchandise discounters. We provide service offerings that help clients address
new ways of reaching the retail trade and consumers through precision marketing;
maximize brand synergies and cost reductions in mergers and acquisitions; improve supply
chain efficiencies through collaborative commerce business models; and enhance the
efficiency of internal operations. Our Retail industry group represented approximately
31% of our Products operating groups revenues before reimbursements in fiscal 2005.
    
    Transportation & Travel Services.Our Transportation & Travel Services industry
group serves companies in the airline, freight transportation, third-party logistics,
hospitality, gaming, car rental, passenger rail and travel distribution industries. We
help clients develop and implement strategies and solutions to improve customer
relationship management capabilities, operate more-efficient networks, integrate supply
chains, develop procurement and electronic business marketplace strategies, and more
effectively manage maintenance, repair and overhaul processes and expenses. Through our
Navitaire subsidiary, we offer airlines a range of services, including reservations,
direct ticket distribution, revenue protection, decision support, passenger revenue
accounting and revenue management on an outsourced basis.
 Resources
  
    
    Chemicals.Our Chemicals industry group works with a wide cross-section of industry
segments, including petrochemicals, specialty chemicals, polymers and plastics, gases
and life science companies. We also have long-term outsourcing contracts with many
industry leaders.
    
    Energy.Our Energy industry group serves a wide range of companies in the oil and
gas industry, including upstream, downstream and oil services companies. Our key areas
of focus include helping clients optimize production, manage the hydrocarbon supply
chain, streamline retail operations and realize the full potential of third-party
enterprise-wide technology solutions. In addition, our multi-client outsourcing centers
enable clients to increase operational efficiencies and exploit cross-industry
synergies. Our Energy industry group represented approximately 27% of our Resources
operating groups revenues before reimbursements in fiscal 2005.
    
    Natural Resources.Our Natural Resources industry group serves the forest products
and metals and mining industries. We help lumber, pulp, papermaking, converting and
packaging companies as well as iron, steel, aluminum, coal, copper and precious metals
companies develop and implement new business strategies, redesign business processes,
manage complex change initiatives, and integrate processes and technologies to achieve
higher levels of performance.
 4




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
    
    Utilities.Our Utilities industry group works with electric, gas and water utilities
around the world to respond to an evolving and highly competitive marketplace. The
groups work includes helping utilities transform themselves from regulated, and
sometimes state-owned, local entities to global deregulated corporations, as well as
developing diverse products and service offerings to help our clients deliver higher
levels of service to their customers. These offerings include customer relationship
management, workforce enablement, supply chain optimization, and trading and risk
management. We also provide a range of outsourced customer-care services to utilities,
municipalities and retail energy companies in North America.
 Government
    Service Areas
  Consulting
  
    
    Customer Relationship Management.The professionals in our Customer Relationship
Management service line help companies acquire, develop and retain more profitable
customer relationships. We offer a full range of innovative capabilities that address
every aspect of customer relationship management, including marketing, direct sales,
customer service, field support and customer contact operations. These capabilities
include rigorous approaches to improving the return on marketing investment, methods for
building insight into customers purchase habits and service preferences, tailoring
offers and service treatment based upon that insight, and unique methods of optimizing
the quality, cost and revenue impact of sales and service operations. Together with our
alliance partners, we bring these skills to our clients to help them increase the value
of their customer relationships and enhance the economic value of their brands.
    
    Finance & Performance Management.The professionals in our Finance & Performance
Management service line work with our clients finance and business unit executives to
develop and enhance financial transaction processing, risk management and business
performance reporting capabilities. Among the services we provide are strategic
consulting with regard to the design and structure of the finance function, particularly
acquisition and post-merger integration; the establishment of shared service centers;
and the configuration of enterprise resource planning platforms for streamlining
transaction processing. Our finance capability services also address pricing and yield
management, revenue cycle management, billing, credit risk and collection effectiveness,
lending and debt recovery. Our performance management services address shareholder
value targeting, scorecard and performance metrics development, performance reporting
solutions and applied business analytics to improve profitability. Our professionals
work with finance executives to develop and implement solutions that help them align
their
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companies investments with their business objectives and establish security relating to
the exchange of information to reporting institutions.
    
    Human Performance.The professionals in our Human Performance service line work with
clients to address human performance issues that are crucial to operational success,
including recruiting and motivating key employees and management. Our integrated
approach provides human resources, knowledge management, and learning and performance
management solutions that increase the efficiency and effectiveness of our clients
employees and operations, while reducing recruiting and training costs. Professionals
in our Human Performance service line help companies and governments reduce employees
time to competency, increase knowledge retention, lower the costs of administering
complex training content, and manage multiple learning delivery vehicles and vendors.
    
    Strategy.Our Strategy professionals identify and implement high-performance
business value creation and transformation opportunities by delivering independent
strategies and broad business consulting services focused on the CEO agenda. They work
closely with the highest levels of our clients organizations to help them achieve
sustainable performance improvement. With deep skills and capabilities in corporate
strategy, corporate restructuring, growth and innovation strategies, mergers and
acquisitions, merger integration, organization and change strategy, pricing strategy and
profitability assessment, post-merger integration, shareholder value analysis and
strategic IT effectiveness, we help clients develop breakthrough strategic, operational
and transformation solutions to enhance shareholder value in both the short and long
term.
    
    Supply Chain Management.The professionals in our Supply Chain Management service
line work with clients across a broad range of industries to develop and implement
supply chain operations strategies that enable profitable growth in new and existing
markets. Our professionals combine global industry expertise and skills in supply chain
strategy, sourcing and procurement, supply chain planning, manufacturing and design,
fulfillment and service management to help organizations achieve high performance. We
work with clients to implement innovative consulting and outsourcing solutions that
align operating models to support business strategies; optimize global operations;
support profitable product launches; and enhance the skills and capabilities of the
supply chain workforce.
 Technology
  
    
    Information Management Services.We provide services to help organizations manage
the full range of their information needs to improve data quality, enhance
decision-making capabilities and meet compliance requirements. This includes managing
both structured data (business intelligence) and unstructured content (content
management and portals).
    
    Enterprise Solutions.We implement a variety of application software  including SAP
and Oracle, among others  to streamline business processes, systems and information and
help organizations access, manage and exploit data to make more-informed business
decisions.
    
    Integration.We use a variety of technology architectures and platforms  including
service-oriented architectures, among others  and Web services standards to connect and
streamline business processes, systems and information to reduce costs and improve
business and IT performance.
    
    Infrastructure Consulting Services.We provide solutions to help organizations
optimize their IT infrastructures while reducing costs. From data center, operations
engineering and network infrastructure to desktop and security solutions, our services
enable clients to rationalize, standardize, secure and transform their IT
infrastructures for improved performance of mission-critical business processes,
applications and end users.
    
    IT Strategy & Transformation.We help CEOs and CIOs with critical IT challenges,
such as selecting IT investments based on bottom-line return, and help them understand
how technologies can enable their business solutions and turn technology innovation into
business results for competitive advantage.
    
    Microsoft Solutions.Together with our alliance partner Microsoft and our Avanade
subsidiary, we develop and deliver cost-efficient, innovative business solutions based
on Microsoft Windows Server 2003 and other .NET technologies, leveraging our deep
industry expertise and practical applications of leading-edge technologies.
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
    
    Mobile Solutions.We help clients develop solutions that give their workforces
access to key enterprise applications  including supply chain management, telematics,
field force enablement, customer relationship management and customer database
applications through mobile devices and/or the Internet.
    
    Research & Development.Our R&D organization, Accenture Technology Labs, uses new
and emerging technologies to develop business solutions that we believe will be the
drivers of our clients growth and enable them to be first to market with unique
capabilities. Key areas of focus include information insight and sensor technologies.
 Outsourcing
  
    
    Business Process Outsourcing (BPO).We work with clients to develop and deliver
business process innovations that transform their businesses and deliver higher
performance levels at lower costs. Through our BPO services and businesses, we manage
specific business processes or functions for clients, providing solutions that are more
efficient and cost-effective than if the functions were provided in-house.We offer clients across all industries a variety of function-specific BPO services and
businesses, including finance and accounting, human resources, learning, procurement and
customer contact. We also offer specialized services tailored to clients in specific
industries. For instance, we offer life insurers policy administration and management
services, including high-volume transaction processing capabilities. We provide utilities
companies with facilities and field services, as well as specialized customer care, finance
and accounting, human resources, supply chain and information technology services. In
addition, through our Navitaire subsidiary, we offer airlines a range of services, including
reservations, direct ticket distribution, revenue protection, decision support, passenger
revenue accounting and revenue management.
    
    Application Outsourcing.Accenture takes a holistic approach to application
outsourcing that goes beyond traditional cost-cutting measures, helping clients improve
the total performance of application development and maintenance. We provide a wide array
of application outsourcing services under flexible arrangements, managing custom or
packaged software applications  including enterprise-wide applications such as SAP,
PeopleSoft, Oracle and Siebel  over their complete development and maintenance
lifecycles. The scope of services ranges from basic application management to application
enhancement and development for individual or multiple applications. We can also take
end-to-end responsibility for all of a clients information technology (IT) function,
including infrastructure and operations, leveraging our shared services delivery groups
and our application and infrastructure transformation consulting expertise to deliver
significant gains in client productivity.By transferring to Accenture the responsibility for managing one or more of their
applications, clients can leverage our assets, scale and global resources as well as our
secure, global infrastructure delivery capabilities. This allows clients to maintain and
control the overall performance of their IT capabilities while reducing the complexity and
costs associated with managing third parties and increasing the flexibility, scalability,
predictability and security of their IT infrastructures.
    
    Infrastructure Outsourcing.Accenture offers infrastructure outsourcing services
coupled primarily as part of application outsourcing and BPO services arrangements. Our
infrastructure outsourcing services include hosting (data center operations, remote
systems management and development environment support); technical support (help desk,
eSupport and desk-side support services); network management (secure, real-time,
asynchronous voice and communications); security (security systems management, disaster
recovery and business continuity services); desktop management and mobility (lifecycle
management of desktop and mobility devices and supporting software); and messaging and
collaboration.
 Global Delivery Model
  7




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Alliances
   Research and Innovation
   Employees
   8




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Competition
  Fortune Fortune
 
    
    skills and capabilities of people;
    
    innovative service and product offerings;
    
    perceived ability to add value;
    
    reputation and client references;
    
    price;
    
    scope of services;
    
    service delivery approach;
    
    technical and industry expertise;
    
    quality of services and solutions;
    
    ability to deliver results on a timely basis;
    
    availability of appropriate resources; and
    
    global reach and scale.
  Intellectual Property
   Organizational Structure
   9




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Accenture SCA Class I Common Shares
  de minimis de minimis de minimis. de minimis
 Accenture SCA Class II and Class III Common Shares
  10




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Accenture Ltd Class A Common Shares and Class X Common Shares
   Accenture Canada Holdings Inc. Exchangeable Shares
  Restrictions on the Transfer of Certain Accenture Shares
  Accenture Ltd Bye-Laws
 Covered Person Transfer Restrictions.
 
    
    except as described below, maintain beneficial ownership of his or her covered
shares received on or prior to July 24, 2001 for a period of eight years thereafter;
    
    maintain beneficial ownership of at least 25% of his or her covered shares
received on or prior to July 24, 2001 as long as he or she is an employee of Accenture;
and
    
    comply with certain additional transfer restrictions imposed by or with the
consent of Accenture from time to time, including in connection with offerings of
securities by Accenture Ltd.
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
    
    Covered persons who continue to be employees of Accenture are permitted to
transfer a percentage of the covered shares received by them on or prior to July 24,
2001 and owned by them as follows:
 Cumulative percentage of sharespermitted to be transferred
    
    Years after July 24, 200110%
    
    1 year25%
    
    2 years35%
    
    3 years45%
    
    4 years55%
    
    5 years65%
    
    6 years75%
    
    7 years100%
    
    The later of (a) 8 years and (b) endof employment by Accenture
 
    
    Covered persons retiring from Accenture at the age of 50 or above are permitted
to transfer covered shares they own on an accelerated basis as follows:
 Percentage of remainingtransfer restricted sharesAge at retirement
    
    permitted to be transferred56 or older
    
    
    100
    %55
    
    
    87.5
    %54
    
    
    75
    %53
    
    
    62.5
    %52
    
    
    50
    %51
    
    
    37.5
    %50
    
    
    25
    %
 
    
    In addition, a retired partner who reaches the age of 56 is permitted to transfer
any covered shares he or she owns. Any remaining shares owned by retiring partners for
which transfer restrictions are not released on an accelerated basis will be eligible to
be transferred as if the retiring partner continued to be employed by Accenture.
    
    Covered persons who became disabled before our transition to a corporate
structure are permitted to transfer all of their covered shares. Partners who have
become disabled since our transition to a corporate structure are subject to the general
transfer restrictions applicable to employees or, if disabled after the age of 50,
benefit from the accelerated lapses of transfer restrictions applicable to retired
partners.
     Term and Amendment.
 Waivers and Adjustments.
 
    
    participate as sellers in underwritten public offerings of common shares and
tender and exchange offers and share purchase programs by Accenture;
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
    
    transfer covered shares in family or charitable transfers;
    
    transfer covered shares held in employee benefit plans; and
    
    transfer covered shares in particular situations (for example, to immediate family members and trusts).
  Administration and Resolution of Disputes.
 Articles of Association of Accenture SCA
 General.
 Covered Person Transfer Restrictions.
 
    
    except as described below, maintain beneficial ownership of his or her covered
shares received on or prior to July 24, 2001 for a period of eight years thereafter;
    
    maintain beneficial ownership of at least 25% of his or her covered shares
received on or prior to July 24, 2001 as long as he or she is an employee of Accenture;
and
    
    comply with certain other transfer restrictions when requested to do so by
Accenture. See Other Restrictions.
  
    
    Covered persons who continue to be employees of Accenture are permitted to
transfer a percentage of the covered shares received by them on or prior to July 24,
2001 and owned by them commencing on July 24, 2002 as follows:
 Cumulative percentage of sharespermitted to be transferred
    
    Years after July 24, 200135%
    
    3 years45%
    
    4 years55%
    
    5 years65%
    
    6 years75%
    
    7 years100%
    
    The later of (a) 8 years and (b) end ofemployment by Accenture
 
    
    Covered persons retiring at the age of 50 or above or who become disabled are
granted accelerations of these provisions on terms identical to those applicable to
Accenture Ltd Class A common shares held by covered persons and described under
Accenture Ltd Bye-lawsTransfer Restrictions above.
  13




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Term and Amendment.
 Other Restrictions.
 Administration and Resolution of Disputes.
 Expiration of the Share Management Plan
  Accenture Senior Executive Trading Policy
  Risk Factors
 Risks That Relate to Our Business
 Our results of operations are materially affected by economic and political conditions, levels
of business activity and rates of change in the industries we serve, as well as by the pace of
technological change and the type and level of technology spending by our clients.
  14




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Our business will be negatively affected if we are not able to anticipate and keep pace with
rapid changes in technology or if growth in the use of technology in business is not as rapid
as in the past.
  We may face damage to our professional reputation or legal liability if our clients are not
satisfied with our services.
  Our engagements with clients may not be profitable or may be terminated by our clients on short
notice.
 Unexpected costs, delay or failures to achieve anticipated cost reductions could make our
contracts unprofitable.
 Under many of our contracts, the payment of some or all of our fees is conditioned upon our
performance.
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Our contracts can be terminated by our clients with short notice.
 We may fail to collect amounts extended to clients.
 As our work with government clients increases, so does our exposure to various risks inherent
in the government contracting process.
  
    
    Government entities typically fund projects through appropriated monies. While these
projects are often planned and executed as multi-year projects, the government entities
usually reserve the right to change the scope of or terminate these projects for lack of
approved funding and at their convenience.
    
    Government entities reserve the right to audit our contract costs, including allocated
indirect costs, and conduct inquiries and investigations of our business practices with
respect to our government contracts. If the government finds that the costs are not
reimbursable then we will not be allowed to bill for them, or the cost must be refunded to
the government if it has already been paid to us. Findings from such an audit also may
result in our being required to prospectively adjust previously agreed rates for our work
and affect our future margins.
    
    If a government client discovers improper or illegal activities in the course of audits
or investigations, we may become subject to various civil and criminal penalties and
administrative sanctions, which may include termination of contracts, forfeiture of
profits, suspension of payments, fines and suspensions or debarment from doing business
with other agencies of that government. The inherent limitations of internal controls may
not prevent or detect all improper or illegal activities, regardless of their adequacy.
    
    Government contracts, and the proceedings surrounding them, are often subject to more
extensive scrutiny and publicity than other commercial contracts. The number and terms of
new government contracts signed can be affected significantly by political and economic
factors such as pending elections and revisions to governmental tax policies. Negative
publicity related to our government contracts, regardless of its accuracy, may further
damage our business by affecting our ability to compete for new contracts.
  Our global operations involve many complex risks, some of which may be beyond our control.
   Currency Matters.
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Security Matters.
 Control Matters.
 Infrastructure Matters.
 Local
Legal and Political Matters.
  The consulting, technology and outsourcing markets are highly competitive and the pace of
consolidation, as well as vertical integration, among our competitors continues to increase. As
a result, we may not be able to compete effectively if we cannot efficiently respond to these
developments in a timely manner.
   If we are unable to attract, retain and motivate employees, we will not be able to compete
effectively and will not be able to grow our business.
  17




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Our profitability will suffer if we are not able to maintain our pricing and utilization rates
and control our costs. A continuation of current pricing pressures could result in permanent
changes in pricing policies and delivery capabilities.
  
    
    our clients perceptions of our ability to add value through our services;
    
    competition;
    
    introduction of new services or products by us or our competitors;
    
    pricing policies of our competitors;
    
    our ability to accurately estimate, attain and sustain engagement revenues, margins
and cash flows over increasingly longer contract periods;
    
    the use of off-shore resources to provide lower-cost service delivery capabilities
by our competitors and our clients; and
    
    general economic and political conditions.
  
    
    seasonal trends, primarily as a result of our hiring cycle;
    
    our ability to transition employees from completed projects to new engagements;
    
    our ability to forecast demand for our services and thereby maintain an appropriate
headcount in each of our workforces; and
    
    our ability to manage attrition.
   Our quarterly revenues, operating results and profitability will vary from quarter to quarter,
which may result in increased volatility of the share price of the Accenture Ltd Class A common
shares, which, in turn, will affect the current market value of
Accenture SCAs Class I common shares.
  
    
    seasonality, including number of workdays and holiday and summer vacations;
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
    
    the business decisions of our clients regarding the use of our services;
    
    periodic differences between our clients estimated and actual levels of business
activity associated with ongoing engagements;
    
    the stage of completion of existing projects and/or their termination;
    
    our ability to transition employees quickly from completed projects to new engagements;
    
    the introduction of new products or services by us or our competitors;
    
    changes in our pricing policies or those of our competitors;
    
    our ability to manage costs, including those for personnel, support services and severance;
    
    our ability to maintain an appropriate headcount in each of our workforces;
    
    acquisition and integration costs related to possible acquisitions of other businesses;
    
    changes in, or the application of changes in, accounting principles or pronouncements
under U.S. generally accepted accounting principles, particularly those related to revenue
recognition;
    
    currency exchange rate fluctuations;
    
    changes in estimates, accruals or payments of variable compensation to our employees; and
    
    global, regional and local economic and political conditions and related risks, including acts of terrorism.
 We continue to achieve greater percentages of revenues and growth through outsourcing. This
continued outsourcing growth could result in higher concentrations of revenues and
contributions to income from a smaller number of our larger clients on customized outsourcing
solutions or, in the case of our more-standardized business process outsourcing services, from
larger numbers of clients for whom we provide these more-standardized services. As our
outsourcing business continues to grow, we may continue to experience increased pressure on our
overall margins, particularly during the early stages of new outsourcing contracts.
   On certain complex engagements where we partner with third parties, our ability to perform may
be adversely affected if these third parties cannot deliver their contributions in a timely
manner. Clients are increasingly demanding that we guarantee the performance of these third
parties, whom we do not control.
   19




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##### 



We may be exposed to potential risks if we are unable to maintain effective internal controls.
  Tax legislation, future legislation and negative publicity related to Bermuda companies
such as our parent, Accenture Ltd, may lead to an increase in our tax burden or affect our
relationships with our clients.
    Our services or solutions may infringe upon the intellectual property rights of others.
  We have only a limited ability to protect our intellectual property rights, which are important
to our success.
   If our alliances do not succeed, we may not be successful in implementing our growth strategy.
  20




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##### 



Risks That Relate to Ownership of Our Class I Common Shares
 The
share price of Accenture Ltd Class A common shares and,
consequently, the market value of Accenture SCA Class I common shares, may be adversely affected from time to
time by sales, or the anticipation of future sales, of Class A common shares held by our
employees and former employees or received upon the redemption of
Accenture SCA Class I common shares.
  Shares previously received in connection with our transition to a corporate structure
 
    
    As of October 24, 2005, substantial numbers of shares previously received in
connection with our transition to a corporate structure were still
held by certain Accenture partners, former partners and their permitted transferees. These shares remain
directly or indirectly subject to provisions of our various charter documents permitting
sales or dispositions of these shares in increasing amounts annually through July 2009
and, in the case of senior executives holding these shares, for so long as they remain
employed by us. Accenture SCA Class I common shares and Accenture Canada Holdings Inc.
exchangeable shares are redeemable or exchangeable, respectively. Upon any request for
redemption or exchange, we have the option of honoring such requests through cash
settlement or the issuance of a comparable number of our Class A common shares. For a
more detailed description of these provisions in our charter documents relating to these
shares, see BusinessAccenture Organizational Structure.Based on current partner demographics, the shares received in connection with our
transition to a corporate structure and still held by certain
Accenture partners, former
partners and their permitted transferees become available for transfer as follows:
 Number of Accenture SCAClass I common shares andNumber of Accenture Ltd
    
    Accenture Canada Holdings Inc.Available for Transfer
    
    Class A common shares
    
    exchangeable sharesCurrently
    
    
    15,208,674
    
    
    
    38,404,234July 24, 2006
    
    
    11,761,529
    
    
    
    34,024,001July 24, 2007
    
    
    13,573,031
    
    
    
    35,231,866July 24, 2008
    
    
    13,418,255
    
    
    
    32,962,054July 24, 2009
    
    
    40,022,593
    
    
    
    69,699,697Later of July 24, 2009 or
end of employment with
Accenture
    
    
    26,903,037
    
    
    
    75,402,582
 We may waive the provisions of our charter documents applicable to these shares to permit
earlier transfers of these shares in transactions, such as issuer tender offers or
secondary offerings, that we approve. From time to time, we may also approve limited
relief from these provisions for specified partners or groups of partners in connection
with particular retirement, employment and severance arrangements that we determine to be
important to be in the best interests of the Company.
    
    In July 2005, Accenture implemented a Senior Executive Trading Policy applicable to
Accentures senior executives which provides, among other things, that all shares covered by the
transfer restrictions contained in our various charter documents and
still held by Accentures
senior executives and available for transfer will also be subject to quarterly trading
guidelines. These guidelines seek to limit the total number of these shares redeemed,
sold or otherwise transferred in any calendar quarter to no more than a composite
average weekly volume of trading in Accenture Ltd Class A common shares. As of October
24, 2005, the shares covered by the transfer restrictions contained in our various
charter documents and subject to these additional quarterly guidelines represented
approximately 55% of the shares identified in the table above. We expect to
rigorously enforce this policy. However, sanctions under this policy may be prospective
in nature and there can be no guarantee that we can prohibit all individual transfers
that may be attempted in breach of this policy.The Senior Executive Trading Policy was implemented, in part, due to the expiration on
July 24, 2005 of our Share Management Plan for partners and the
charter provisions we used to create and facilitate that plan.
 21




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##### 



Since July 24, 2005, holders of these shares have been able to individually execute sales,
redemptions or dispositions of those shares that are no longer subject to these charter
provisions and, in the case of our senior executives, in compliance with the quarterly
trading guidelines contained in the Senior Executive Trading Policy.
 Shares to be received under Accenture Ltds 2001 Share Incentive Plan:
 
    
    As of October 24, 2005, a total of 45,908,467 of Accenture Ltd Class A common shares
underlying restricted share units generally were scheduled to be delivered during the
calendar years indicated below:
 Number of Shares
    
    Calendar Year67,061
    
    
    20053,837,895
    
    
    20067,923,042
    
    
    20075,470,960
    
    
    200811,892,961
    
    
    200916,716,548
    
    After 2009
  
    
    In addition, as of October 24, 2005, a total of 71,524,857 Accenture Ltd Class A
common shares were issuable pursuant to options, of which options to purchase an
aggregate of 49,613,015 Class A common shares were exercisable and options to purchase
an aggregate of 21,911,842 Class A common shares generally will become exercisable
during the calendar years indicated below:
 Number of Shares
    
    Calendar Year101,072
    
    
    200510,486,396
    
    
    200611,324,374
    
    After 2006
 We may need additional capital in the future, and this capital may not be available to us.
The raising of additional capital may dilute shareholders
ownership in Accenture Ltd.
  
    
    take advantage of opportunities, including more rapid expansion;
    
    acquire complementary businesses or technologies;
    
    develop new services and solutions; or
    
    respond to competitive pressures.
  Accenture SCA is registered in Luxembourg, and a significant portion of our assets are located
outside the United States. As a result, it may not be possible for shareholders to enforce
civil liability provisions of the Federal or state securities laws of the United States.
  22




---



##### 



Luxembourg law differs from the laws in effect in the United States and may afford less
protection to shareholders.
  ITEM 2. PROPERTIES
  ITEM 3. LEGAL PROCEEDINGS
    ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 For a summary of matters submitted to a vote of security holders during the fourth quarter of
fiscal 2005, please see BusinessOrganizational Structure in this Annual Report on Form 10-K and
our Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2005 filed with the SEC on
July 11, 2005.
 23




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##### 



PART II
 ITEM
5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED SHAREHOLDER
MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
   Price Range of Accenture Ltd Class A Common Shares
   Price RangeHigh
    
    
    LowFiscal
2004First Quarter
    
    $
    25.37
    
    
    $
    21.00Second Quarter
    
    $
    26.95
    
    
    $
    21.85Third Quarter
    
    $
    25.91
    
    
    $
    22.61Fourth Quarter
    
    $
    28.10
    
    
    $
    23.25Fiscal
2005First Quarter
    
    $
    27.58
    
    
    $
    22.61Second Quarter
    
    $
    27.60
    
    
    $
    24.39Third Quarter
    
    $
    25.97
    
    
    $
    21.00Fourth Quarter
    
    $
    25.70
    
    
    $
    22.20Fiscal
2006First Quarter (through October 24, 2005)
    
    $
    26.94
    
    
    $
    24.45
   Dividend Policy
   24




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##### 



Recent Sales of Unregistered Securities
   Purchases
and Redemptions of Accenture SCA Class I Common Shares
  Approximate DollarTotal Number of
    
    
    Value of Shares thatShares Purchased as
    
    
    May Yet Be PurchasedPart of Publicly
    
    
    Under PubliclyTotal Number of
    
    
    Average Price
    
    
    Announced Plans or
    
    
    Announced Plans orPeriod
    
    Shares Purchased(1)
    
    
    Paid per Share
    
    
    Programs
    
    
    Programs(in thousands, except share and per share amounts)June 1, 2005June 30, 2005Class I common shares
    
    
    17,712,575
    
    
    $
    22.64
    
    
    
    
    
    
    
    July 1, 2005July 31, 2005Class I common shares
    
    
    14,649
    
    
    $
    23.57
    
    
    
    
    
    
    
    Aug. 1, 2005Aug. 31, 2005Class I common shares
    
    
    5,301,076
    
    
    $
    24.24
    
    
    
    
    
    
    
    TotalClass I common shares(2)(3)(4)
    
    
    23,028,300
    
    
    $
    23.01
    
    
    
    
    
    
    
    
 
 (1)
    
    To date, the Board of Directors of Accenture Ltd has authorized an aggregate of $3.2
billion for purchases and redemptions from our partners, former partners and their permitted
transferees. At August 31, 2005, an aggregate of $1.0 billion remained available for these
purchases and redemptions. These amounts do not include an additional
$800 million authorized to effect the October 14, 2005 issuer
tender offer described in footnote 2 below.(2)
    
    During the fourth quarter of fiscal 2005, Accenture SCA and its subsidiary purchased or
redeemed an aggregate of 21,036,151 Accenture SCA Class I common shares pursuant to two issuer
tender offers. In addition, a subsidiary of Accenture SCA purchased an aggregate of 329,287
Accenture Canada Holdings Inc. exchangeable shares. These purchases and redemptions were made
in transactions unrelated to publicly announced share plans or programs. The share numbers in
the table above do not reflect an issuer tender offer effective as of October 14, 2005,
pursuant to which Accenture SCA and its subsidiary purchased or redeemed a total of 35,922,744
Accenture SCA Class I common shares at a price of $21.50 per share. These redemptions or
purchases were made in transactions unrelated to publicly announced share plans or programs.(3)
    
    During the fourth quarter of fiscal 2005, a subsidiary of Accenture SCA purchased 14,649
Accenture SCA Class I common shares at the request of the Accenture Foundation Inc. in a
transaction based on terms similar to those provided for in Accenture SCAs Articles of
Association. This purchase was made in a transaction unrelated to publicly announced share
plans or programs.(4)
    
    During the fourth quarter of fiscal 2005, Accenture SCA purchased 1,977,500 Accenture SCA
Class I common shares from Accenture Ltd to facilitate the funding of Accenture Ltds publicly
announced open-market share purchase program. These purchases were made in transactions
unrelated to publicly announced share plans or programs. These purchases do not reduce shares
outstanding for purposes of computing earnings per share reflected in the Companys
Consolidated Financial Statements. Purchases of Accenture Ltd  Class A Common Shares
  Approximate DollarValue of SharesTotal Number of
    
    that May Yet BeShares Purchased as
    
    Purchased UnderAverage
    
    Part of Publicly
    
    PubliclyTotal Number of
    
    Price Paid
    
    Announced Plans or
    
    Announced PlansPeriod
    
    Shares Purchased
    
    per Share
    
    Programs(1)(2)
    
    or Programs(In thousands, except share and per share amounts)June 1, 2005June 30, 2005Class A common shares
    
    
    2,547
    
    
    $
    23.28
    
    
    
    
    
    
    $
    761,087Class X common shares
    
    
    17,982,839
    
    
    $
    0.0000225
    
    
    
    
    
    
    
    July 1, 2005July 31, 2005Class A common shares
    
    
    379,597
    
    
    $
    24.36
    
    
    
    99,196
    
    
    $
    758,673Class X common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Aug. 1, 2005Aug. 31, 2005Class A common shares
    
    
    2,290,350
    
    
    $
    25.19
    
    
    
    2,072,347
    
    
    $
    706,286Class X common shares
    
    
    2,817,258
    
    
    $
    0.0000225
    
    
    
    
    
    
    
    TotalClass A common shares(1)(2)(3)
    
    
    2,672,494
    
    
    $
    25.07
    
    
    
    2,171,543Class X common shares(4)
    
    
    20,800,097
    
    
    $
    0.0000225
    
    
    
        (1)
    Since April 2002, the Board of Directors of Accenture Ltd has
    authorized and periodically confirmed a publicly announced
    open-market share purchase program for acquiring Accenture Ltd
    Class A common shares. During the fourth quarter of fiscal
    2005, 1,977,500 Accenture Ltd Class A common shares were
    purchased under this program. To date, the Board of Directors of
    Accenture Ltd has authorized an aggregate of $1.6 billion
    for use in these open-market share purchases. At August 31,
    2005, an aggregate of $581 million remained available for
    these open-market share purchases. The open-market purchase
    program does not have an expiration date.(2)
    In July 2002, we publicly announced our RSU Sell-Back Program,
    whereby we offer to purchase Accenture Ltd Class A common
    shares awarded to employees pursuant to restricted share units
    issued in connection with our initial public offering. The Board
    of Directors of Accenture Ltd has authorized funds for this
    purpose, and $181 million was set aside under this program.
    During the fourth quarter of fiscal 2005, 193,043 Accenture Ltd
    Class A common shares were purchased under this program. At
    August 31, 2005, approximately $125 million remained
    available for purchases under this program. These purchases are
    not made on the open market and this program does not have an
    expiration date.(3)
    During the fourth quarter of fiscal 2005, Accenture purchased
    500,951 Accenture Ltd Class A common shares in transactions
    unrelated to publicly announced share plans or programs. These
    transactions consisted of acquisitions of Accenture Ltd
    Class A common shares via share withholding for payroll tax
    obligations due from employees and former employees in
    connection with the delivery of Accenture Ltd Class A
    common shares under the Companys various employee equity
    share plans.(4)
    During the fourth quarter of fiscal 2005, the Company redeemed
    20,800,097 Accenture Ltd Class X common shares pursuant to
    its bye-laws. Accenture Ltd Class X common shares are
    redeemable at their par value of $0.0000225 per share. 25




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##### 



ITEM 6. SELECTED FINANCIAL DATA
  Year Ended August 31,2005
    
    
    2004
    
    
    2003
    
    
    2002
    
    
    2001(in millions, except per share amounts)Income Statement Data:Revenues:Revenues before reimbursements
    
    $
    15,547
    
    
    $
    13,673
    
    
    $
    11,818
    
    
    $
    11,574
    
    
    $
    11,444Reimbursements
    
    
    1,547
    
    
    
    1,440
    
    
    
    1,579
    
    
    
    1,531
    
    
    
    1,618Revenues
    
    
    17,094
    
    
    
    15,113
    
    
    
    13,397
    
    
    
    13,105
    
    
    
    13,062Operating expenses:Cost of services*:Cost of services before reimbursable expenses*
    
    
    10,455
    
    
    
    9,057
    
    
    
    7,508
    
    
    
    6,897
    
    
    
    6,199Reimbursable expenses
    
    
    1,547
    
    
    
    1,440
    
    
    
    1,579
    
    
    
    1,531
    
    
    
    1,618Cost of services*
    
    
    12,002
    
    
    
    10,497
    
    
    
    9,087
    
    
    
    8,428
    
    
    
    7,817Sales and marketing*
    
    
    1,558
    
    
    
    1,488
    
    
    
    1,459
    
    
    
    1,566
    
    
    
    1,217General and administrative costs*
    
    
    1,512
    
    
    
    1,340
    
    
    
    1,319
    
    
    
    1,616
    
    
    
    1,516Restructuring, reorganization and rebranding (benefits)
costs
    
    
    (89
    )
    
    
    29
    
    
    
    (19
    )
    
    
    111
    
    
    
    849IPO restricted share unit-based compensation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    967Total operating expenses*
    
    
    14,983
    
    
    
    13,355
    
    
    
    11,846
    
    
    
    11,720
    
    
    
    12,366Operating income*
    
    
    2,111
    
    
    
    1,759
    
    
    
    1,551
    
    
    
    1,385
    
    
    
    696Gain (loss) on investments, net
    
    
    21
    
    
    
    3
    
    
    
    10
    
    
    
    (321
    )
    
    
    107Interest income
    
    
    108
    
    
    
    60
    
    
    
    41
    
    
    
    46
    
    
    
    80Interest expense
    
    
    (24
    )
    
    
    (22
    )
    
    
    (21
    )
    
    
    (49
    )
    
    
    (43
    )Other (expense) income
    
    
    (11
    )
    
    
    
    
    
    
    32
    
    
    
    15
    
    
    
    17Equity in losses of affiliates
    
    
    
    
    
    
    (2
    )
    
    
    
    
    
    
    (9
    )
    
    
    (61
    )Income before income taxes*
    
    
    2,206
    
    
    
    1,799
    
    
    
    1,613
    
    
    
    1,068
    
    
    
    795Provision for income taxes(1)
    
    
    697
    
    
    
    576
    
    
    
    566
    
    
    
    491
    
    
    
    503Income before minority interest and accounting change*
    
    
    1,509
    
    
    
    1,223
    
    
    
    1,047
    
    
    
    576
    
    
    
    292Minority interest
    
    
    (20
    )
    
    
    (10
    )
    
    
    (7
    )
    
    
    3
    
    
    
    8Income before accounting change*
    
    
    1,489
    
    
    
    1,213
    
    
    
    1,040
    
    
    
    579
    
    
    
    300Cumulative effect of accounting change
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    188Net income*
    
    $
    1,489
    
    
    $
    1,213
    
    
    $
    1,040
    
    
    $
    579
    
    
    $
    488Dividends per Common Share
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
 As of August 31,2005
    
    
    2004
    
    
    2003
    
    
    2002
    
    
    2001(in millions)Balance Sheet Data:Cash and cash equivalents
    
    $
    2,484
    
    
    $
    2,553
    
    
    $
    2,332
    
    
    $
    1,317
    
    
    $
    1,880Working capital
    
    
    1,823
    
    
    
    1,745
    
    
    
    1,729
    
    
    
    723
    
    
    
    401Total assets
    
    
    8,957
    
    
    
    8,013
    
    
    
    6,459
    
    
    
    5,479
    
    
    
    6,061Long-term debt, net of current portion
    
    
    44
    
    
    
    32
    
    
    
    14
    
    
    
    3
    
    
    
    1Shareholders equity
    
    
    2,616
    
    
    
    2,375
    
    
    
    1,721
    
    
    
    963
    
    
    
    685
 
 *
    
    Excludes payments for partner distributions for periods ended on or prior to May 31, 2001.(1)
    
    For periods ended on or prior to May 31, 2001, we operated through partnerships in many
countries. Therefore, we generally were not subject to income taxes in those countries. Taxes
related to income earned by our partnerships were the responsibility of the individual partners. In
other countries, we operated through corporations, and in these circumstances we were subject to
income taxes. 26




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##### 



ITEM 7.
    
    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 Annual Report on Form 10-K . This
discussion and analysis also contains forward-looking statements and should also be read in
conjunction with the disclosures and information contained in Disclosure Regarding Forward-Looking
Statements and BusinessRisk Factors in this Annual Report on Form 10-K .
 We use the terms Accenture, we, our Company, our and us in this report to refer to
Accenture SCA 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 2005 or fiscal year
2005 means the 12-month period that ended on August 31, 2005. All references to quarters, unless
otherwise noted, refer to the quarters of our fiscal year.
 Overview
        27




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##### 



28




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##### 



Bookings and Backlog
    Critical Accounting Policies and Estimates
  Revenue
Recognition
 Revenue Recognition in Financial
Statements, , Revenue Recognition
 Accounting for Performance of Construction Type and Certain Production
Type Contracts
 29




---



##### 



Accounting for Revenue Arrangements with Multiple Deliverables
    Income Taxes
     30




---



##### 



Variable Compensation
   Fiscal Year2005
    
    
    2004
    
    
    2003First fiscal quarter
    
    $
    43
    
    
    $
    (4
    )
    
    $
    17Second fiscal quarter
    
    
    
    
    
    
    64
    
    
    
    (6
    )Third fiscal quarter
    
    
    13
    
    
    
    92
    
    
    
    Fourth fiscal quarter
    
    
    36
    
    
    
    125
    
    
    
    Total variable compensation
    
    $
    92
    
    
    $
    277
    
    
    $
    11
  Defined Benefit Pension Plans
 Employers
Accounting for Pensions
  Pension Benefits2006
    
    2005
    
    2004U.S. Plans
    
    Non-U.S. Plans
    
    U.S. Plans
    
    Non-U.S. Plans
    
    U.S. Plans
    
    Non-U.S. PlansDiscount rate
    
    
    5.25
    %
    
    
    4.28
    %
    
    
    6.25
    %
    
    
    4.93
    %
    
    
    6.00
    %
    
    
    4.85
    %Expected return on plan assets
    
    
    7.50
    %
    
    
    5.57
    %
    
    
    7.50
    %
    
    
    5.19
    %
    
    
    8.00
    %
    
    
    5.66
    %Rate of increase in future compensation
    
    
    4.50
    %
    
    
    3.27
    %
    
    
    4.50
    %
    
    
    3.16
    %
    
    
    4.50
    %
    
    
    3.10
    %
 Discount Rate
  31




---



##### 



Expected
Return on Plan Assets
    General
     Revenues by Segment/Operating Group
  32




---



##### 



Year Ended
    
    
    
    
    
    
    Percent
    
    
    Percent of Total Revenues BeforeAugust 31,
    
    
    Percent
    
    
    Increase
    
    
    Reimbursements for the Year2005
    
    
    2004
    
    
    Increase
    
    
    Local
    
    
    Ended August 31,(in millions)
    
    
    US$
    
    
    Currency
    
    
    2005
    
    
    2004OPERATING GROUPSCommunications & High Tech
    
    $
    4,001
    
    
    $
    3,741
    
    
    
    7
    %
    
    
    4
    %
    
    
    26
    %
    
    
    27
    %Financial Services
    
    
    3,408
    
    
    
    2,771
    
    
    
    23
    
    
    
    18
    
    
    
    22
    
    
    
    20Government
    
    
    2,172
    
    
    
    1,995
    
    
    
    9
    
    
    
    6
    
    
    
    14
    
    
    
    15Products
    
    
    3,570
    
    
    
    2,979
    
    
    
    20
    
    
    
    16
    
    
    
    23
    
    
    
    22Resources
    
    
    2,389
    
    
    
    2,178
    
    
    
    10
    
    
    
    5
    
    
    
    15
    
    
    
    16Other
    
    
    7
    
    
    
    9
    
    
    
    n/m
    
    
    
    n/m
    
    
    
    
    
    
    
    TOTAL Revenues Before Reimbursements
    
    
    15,547
    
    
    
    13,673
    
    
    
    14
    
    
    
    10
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,547
    
    
    
    1,440
    
    
    
    7TOTAL REVENUES
    
    $
    17,094
    
    
    $
    15,113
    
    
    
    13
    %GEOGRAPHY(1)Americas
    
    $
    6,730
    
    
    $
    6,133
    
    
    
    10
    %
    
    
    9
    %
    
    
    43
    %
    
    
    45
    %EMEA(2)
    
    
    7,735
    
    
    
    6,572
    
    
    
    18
    
    
    
    11
    
    
    
    50
    
    
    
    48Asia Pacific
    
    
    1,082
    
    
    
    968
    
    
    
    12
    
    
    
    8
    
    
    
    7
    
    
    
    7TOTAL Revenues Before Reimbursements
    
    
    15,547
    
    
    
    13,673
    
    
    
    14
    
    
    
    10
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,547
    
    
    
    1,440
    
    
    
    7TOTAL REVENUES
    
    $
    17,094
    
    
    $
    15,113
    
    
    
    13
    %TYPE OF WORKConsulting
    
    $
    9,559
    
    
    $
    8,589
    
    
    
    11
    %
    
    
    7
    %
    
    
    61
    %
    
    
    63
    %Outsourcing
    
    
    5,988
    
    
    
    5,084
    
    
    
    18
    
    
    
    14
    
    
    
    39
    
    
    
    37TOTAL Revenues Before Reimbursements
    
    
    15,547
    
    
    
    13,673
    
    
    
    14
    
    
    
    10
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,547
    
    
    
    1,440
    
    
    
    7TOTAL REVENUES
    
    $
    17,094
    
    
    $
    15,113
    
    
    
    13
    %
 
 n/m
    
    = not meaningful(1)
    
    Fiscal 2005 revenues before reimbursements on a geographic basis reflect minor
reclassifications of intercompany eliminations. These reclassifications did not affect total
revenues, revenues by operating group, or revenues by type of work. The reclassified
quarterly revenues before reimbursements by geography can be found in
Exhibit 99.1 to this Annual Report on Form 10-K.(2)
    
    EMEA includes Europe, the Middle East and Africa. 33




---



##### 



Year Ended August 31, 2005 Compared to Year Ended August 31, 2004
 Revenues
         34




---



##### 



Operating Expenses
    Cost of Services
   Sales and Marketing
  General and Administrative Costs
  Restructuring and Reorganization Costs (Benefits)
   35




---



##### 



Operating Income
   Year Ended August 31,Increase (Decrease)ExcludingIncrease
    
    
    Reorganization and2005
    
    
    2004
    
    
    (Decrease)
    
    
    Restructuring(in millions)Communications & High Tech
    
    $
    673
    
    
    $
    404
    
    
    $
    269
    
    
    $
    241Financial Services
    
    
    500
    
    
    
    354
    
    
    
    146
    
    
    
    119Government
    
    
    169
    
    
    
    311
    
    
    
    (142
    )
    
    
    (160
    )Products
    
    
    413
    
    
    
    415
    
    
    
    (2
    )
    
    
    (29
    )Resources
    
    
    356
    
    
    
    275
    
    
    
    81
    
    
    
    63Total
    
    $
    2,111
    
    
    $
    1,759
    
    
    $
    352
    
    
    $
    234
  Year Ended August 31,Income (expense)
    
    2005
    
    
    2004
    
    
    Change(in millions)Communications & High Tech
    
    $
    21
    
    
    $
    (7
    )
    
    $
    28Financial Services
    
    
    20
    
    
    
    (7
    )
    
    
    27Government
    
    
    14
    
    
    
    (4
    )
    
    
    18Products
    
    
    21
    
    
    
    (6
    )
    
    
    27Resources
    
    
    13
    
    
    
    (5
    )
    
    
    18Total
    
    $
    89
    
    
    $
    (29
    )
    
    $
    118
  
    
    Communications & High Tech operating income increased primarily due to higher gross
margins in fiscal 2005, reflecting strong consulting revenue growth in North America and
EMEA, as well as the impact of lower-than-expected
margins on three contracts in fiscal 2004.
    
    The increase in Financial Services operating income reflected a 23% increase in
revenues before reimbursements and improved margins.
    
    Government operating income decreased partly due to lower-than-expected margins
attributable to temporary delays under the NHS Contracts, cost overruns associated with
the development of reusable assets in connection with certain client contracts, delivery
inefficiencies on a small number of other contracts and a favorable contract settlement in
fiscal 2004.
    
    Products operating income decreased slightly, due to lower-than-expected margins
attributable to temporary delays under the NHS Contracts and delivery inefficiencies on a
small number of other contracts, partially offset by a 20% increase in revenues.
    
    The increase in Resources operating income was driven by increased revenues, reduced
delivery costs and improved quality.
  36




---



##### 



Gain on Investments, Net
  Interest Income
  Other (Expense) Income
  Provision for Income Taxes
  37




---



##### 



Year Ended August 31, 2004 Compared to Year Ended August 31, 2003
  Percent
    
    
    Percent
    
    
    Percent of Total RevenuesYear Ended August 31,
    
    
    Increase
    
    
    Increase
    
    
    Before Reimbursements for the2004
    
    
    2003
    
    
    (Decrease)
    
    
    Local
    
    
    Year Ended August 31,(in millions)
    
    
    US$
    
    
    Currency
    
    
    2004
    
    
    2003OPERATING GROUPSCommunications & High Tech
    
    $
    3,741
    
    
    $
    3,290
    
    
    
    14
    %
    
    
    8
    %
    
    
    27
    %
    
    
    28
    %Financial Services
    
    
    2,771
    
    
    
    2,355
    
    
    
    18
    
    
    
    9
    
    
    
    20
    
    
    
    20Government
    
    
    1,995
    
    
    
    1,582
    
    
    
    26
    
    
    
    20
    
    
    
    15
    
    
    
    13Products
    
    
    2,979
    
    
    
    2,613
    
    
    
    14
    
    
    
    7
    
    
    
    22
    
    
    
    22Resources
    
    
    2,178
    
    
    
    1,966
    
    
    
    11
    
    
    
    3
    
    
    
    16
    
    
    
    17Other
    
    
    9
    
    
    
    12
    
    
    
    n/m
    
    
    
    n/m
    
    
    
    
    
    
    
    TOTAL Revenues Before Reimbursements
    
    
    13,673
    
    
    
    11,818
    
    
    
    16
    
    
    
    9
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,440
    
    
    
    1,579
    
    
    
    (9
    )TOTAL REVENUES
    
    $
    15,113
    
    
    $
    13,397
    
    
    
    13
    %GEOGRAPHYAmericas
    
    $
    6,133
    
    
    $
    5,671
    
    
    
    8
    %
    
    
    7
    %
    
    
    45
    %
    
    
    48
    %EMEA
    
    
    6,572
    
    
    
    5,353
    
    
    
    23
    
    
    
    10
    
    
    
    48
    
    
    
    45Asia Pacific
    
    
    968
    
    
    
    794
    
    
    
    22
    
    
    
    12
    
    
    
    7
    
    
    
    7TOTAL Revenues Before Reimbursements
    
    
    13,673
    
    
    
    11,818
    
    
    
    16
    
    
    
    9
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,440
    
    
    
    1,579
    
    
    
    (9
    )TOTAL REVENUES
    
    $
    15,113
    
    
    $
    13,397
    
    
    
    13
    %TYPE OF WORKConsulting(1)
    
    $
    8,589
    
    
    $
    8,048
    
    
    
    7
    %
    
    
    0
    %
    
    
    63
    %
    
    
    68
    %Outsourcing(1)
    
    
    5,084
    
    
    
    3,770
    
    
    
    35
    
    
    
    28
    
    
    
    37
    
    
    
    32TOTAL Revenues Before Reimbursements
    
    
    13,673
    
    
    
    11,818
    
    
    
    16
    
    
    
    9
    %
    
    
    100
    %
    
    
    100
    %Reimbursements
    
    
    1,440
    
    
    
    1,579
    
    
    
    (9
    )TOTAL REVENUES
    
    $
    15,113
    
    
    $
    13,397
    
    
    
    13
    %
 
 n/m
    
    = not meaningful(1)
    
    For fiscal 2003, $335 million of revenues before reimbursements previously classified as
Other have been reclassified to Consulting or Outsourcing type of work to conform to the
fiscal 2005 presentation. Revenues
    38




---



##### 



Operating Expenses
   Cost of Services
  39




---



##### 



Sales and Marketing
  General and Administrative Costs
  Restructuring and Reorganization Costs (Benefits)
   Operating Income
   Year Ended August 31,Increase (Decrease)ExcludingIncrease
    
    
    Reorganization and2004
    
    
    2003
    
    
    (Decrease)
    
    
    Restructuring(in millions)Communications & High Tech
    
    $
    404
    
    
    $
    321
    
    
    $
    83
    
    
    $
    95Financial Services
    
    
    354
    
    
    
    306
    
    
    
    48
    
    
    
    59Government
    
    
    311
    
    
    
    282
    
    
    
    29
    
    
    
    36Products
    
    
    415
    
    
    
    428
    
    
    
    (13
    )
    
    
    (3
    )Resources
    
    
    275
    
    
    
    214
    
    
    
    61
    
    
    
    69Total
    
    $
    1,759
    
    
    $
    1,551
    
    
    $
    208
    
    
    $
    256
 40




---



##### 



Year Ended August 31,Income (expense)
    
    2004
    
    
    2003
    
    
    Change(in millions)Communications & High Tech
    
    $
    (7
    )
    
    $
    5
    
    
    $
    (12
    )Financial Services
    
    
    (7
    )
    
    
    4
    
    
    
    (11
    )Government
    
    
    (4
    )
    
    
    3
    
    
    
    (7
    )Products
    
    
    (6
    )
    
    
    4
    
    
    
    (10
    )Resources
    
    
    (5
    )
    
    
    3
    
    
    
    (8
    )Total
    
    $
    (29
    )
    
    $
    19
    
    
    $
    (48
    )
  
    
    Communications & High Tech operating income increased primarily due to a 14% increase in
revenues before reimbursements, along with savings from cost-management initiatives and
improved chargeability.
    
    The increase in Financial Services operating income was driven by an 18% increase in
revenues before reimbursements, as well as savings from cost-management initiatives.
    
    Government operating income increased primarily due to a 26% increase in revenues before
reimbursements, partly offset by higher business-development costs in support of large
contracts and lower overall margins.
    
    Products operating income decreased despite a 14% increase in revenues before
reimbursements, primarily due to lower gross margins reflecting a decrease in consulting
margins and the continued shift in our mix of business toward outsourcing.
    
    The increase in Resources operating income was driven by an 11% increase in revenues
before reimbursements along with savings from cost-management initiatives and improved
chargeability, offset by increases in outsourcing and consulting costs.
 Interest Income
  Other Income (Expense)
  Provision for Income Taxes
  41




---



##### 



Liquidity and Capital Resources
  
    
    take advantage of opportunities, including more rapid expansion;
    
    acquire complementary businesses or technologies;
    
    develop new services and solutions;
    
    respond to competitive pressures; or
    
    facilitate purchases, redemptions and exchanges of Accenture shares held by our
partners, former partners and their permitted transferees and certain purchases from our
other employees.
   Year Ended August 31,2005 to 20042005
    
    
    2004
    
    
    2003
    
    
    Change(in millions)Net cash provided by (used in):Operating activities
    
    $
    1,887
    
    
    $
    1,756
    
    
    $
    1,544
    
    
    $
    131Investing activities
    
    
    (575
    )
    
    
    (897
    )
    
    
    (109
    )
    
    
    322Financing activities
    
    
    (1,377
    )
    
    
    (688
    )
    
    
    (523
    )
    
    
    (689
    )Effect of exchange rate changes on cash and cash equivalents
    
    
    (4
    )
    
    
    49
    
    
    
    103
    
    
    
    (53
    )Net (decrease) increase in cash and cash equivalents
    
    $
    (69
    )
    
    $
    220
    
    
    $
    1,015
    
    
    $
    (289
    )
 Operating activities :
 Investing activities :
 Financing activities :
 42




---



##### 



Borrowing Facilities
  FacilityAmount(in millions)Syndicated loan facility(1)
    
    $
    1,500Separate bilateral, uncommitted, unsecured multicurrency
revolving credit facilities(2)
    
    
    251Local guaranteed and non-guaranteed lines of credit(2)
    
    
    202Total
    
    $
    1,953
 
 (1)
    
    We have a $1,500 million syndicated loan facility maturing June 18, 2009 that 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 the
Companys consolidated assets; and (2) maintain a debt-to-cash-flow ratio not exceeding 1.75
to 1.00. We continue to be in compliance with these terms. As of August 31, 2005, we had no
borrowings under the facility and $54 million in letters of credit outstanding. The facility
is subject to annual commitment fees.(2)
    
    We maintain four separate bilateral, uncommitted, unsecured multicurrency revolving
credit facilities. These facilities provide local-currency financing in countries where we
cannot readily access our syndicated facilities. We also maintain local guaranteed and
non-guaranteed lines of credit. At August 31, 2005, we had $4 million outstanding under these
various facilities. Interest rate terms on the bilateral revolving facilities and local lines
of credit are at market rates prevailing in the relevant local markets.  Client Financing
  August 31,2005
    
    
    2004(in millions, except number of clients)Number of clients
    
    
    29
    
    
    
    40Client financing included in current unbilled services
    
    $
    262
    
    
    $
    243Client financing included in non-current unbilled services
    
    
    472
    
    
    
    212Total client financing
    
    $
    734
    
    
    $
    455
  Share Purchases and Redemptions
  43




---



##### 



Open-Market Purchases
   Share Management Plan and RSU Sell-Back Program Transactions
     Other Redemptions and Purchases
  44




---



##### 



Subsequent Developments
   Obligations and Commitments
  Payments due by periodContractual Cash Obligations
    
    Total
    
    
    Less than 1 year
    
    
    1-3 years
    
    
    3-5 years
    
    
    More than 5 years(in millions)Long-term debt
    
    $
    62
    
    
    $
    17
    
    
    $
    44
    
    
    $
    1
    
    
    $
    Operating leases
    
    
    2,541
    
    
    
    334
    
    
    
    526
    
    
    
    419
    
    
    
    1,262Training facility services agreement
    
    
    24
    
    
    
    20
    
    
    
    4
    
    
    
    
    
    
    
    Retirement obligations (1)
    
    
    278
    
    
    
    41
    
    
    
    73
    
    
    
    59
    
    
    
    105Other purchase commitments (2)
    
    
    444
    
    
    
    233
    
    
    
    177
    
    
    
    27
    
    
    
    7Total
    
    $
    3,349
    
    
    $
    645
    
    
    $
    824
    
    
    $
    506
    
    
    $
    1,374
 
 (1)
    
    This represents projected payments under our Basic Retirement Benefit and Early Retirement
Plans. Because both of these plans are unfunded, we pay these benefits directly. These plans
were eliminated for active partners after May 15, 2001.(2)
    
    Other purchase commitments include, among other things, information technology, software
support and maintenance obligations, as well as other obligations in the ordinary course of
business that we cannot cancel or where we would be required to pay a termination fee in the
event of cancellation. Amounts shown do not include recourse that we may have to recover
termination fees or penalties from clients. Off-Balance Sheet Arrangements
   Newly Issued Accounting Standard
 Share-Based Payment Accounting for Stock-Based Compensation Accounting for Stock Issued to
 45




---



##### 



Employees,
    ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  Foreign Currency Risk
   Interest Rate Risk
  46




---



##### 



Equity Price Risk
  ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
  ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE
  ITEM 9A. CONTROLS AND PROCEDURES
 (a) Evaluation of Disclosure Controls and Procedures
  (b) Managements Report on Internal Control over Financial Reporting
  (i)
    
    pertain to the maintenance of records that in reasonable detail accurately and fairly
reflect the transactions and dispositions of the Companys assets;(ii)
    
    provide reasonable assurance that the transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally accepted
accounting principles, and that the Companys receipts and expenditures are being made
only in accordance with the authorization of management and/or Board of Directors; and(iii)
    
    provide reasonable assurance regarding the prevention or timely detection of any
unauthorized acquisition, use or disposition of company assets that could have a material
effect on the Companys financial statements.
    47




---



##### 



(c) Changes in Internal Control over Financial Reporting
   ITEM 9B. OTHER INFORMATION
  48




---



##### 



PART III
 ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
   Accenture SCA Supervisory Board
  ITEM 11. EXECUTIVE COMPENSATION
  ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
 Beneficial Ownership of More than Five Percent
  Class I common shares
    
    Class II common shares
    
    Class III common sharesshares
    
    
    
    
    
    
    
    
    
    
    
    
    
    sharesName and Address of
    
    beneficially
    
    % of shares
    
    shares beneficially
    
    % of shares
    
    beneficially
    
    % of sharesBeneficial Owner
    
    owned
    
    beneficially owned
    
    owned
    
    beneficially owned
    
    owned
    
    beneficially ownedAccenture LtdCanons Court22 Victoria StreetHamilton HM12,Bermuda
    
    
    
    
    
    
    
    %
    
    
    470,958,308
    
    
    
    100
    %
    
    
    525,579,903
    (1)
    
    
    100
    %
 
 (1)
    
    In addition, Accenture Ltd may be deemed to beneficially own
165,063,221 Class III common
shares held by wholly-owned subsidiaries of Accenture SCA. Under Luxembourg law, shares of
Accenture SCA held by Accenture SCA or any of its direct or certain indirect subsidiaries may
not be voted at meetings of the shareholders of Accenture SCA.   49




---



##### 



ITEM 13. CERTAIN TRANSACTIONS AND RELATIONSHIPS
  ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
  2005
    
    
    2004(in thousands)Audit Fees(1)
    
    $
    11,091
    
    
    $
    6,425Audit Related Fees(2)
    
    
    1,004
    
    
    
    2,742Tax Fees(3)
    
    
    26
    
    
    
    652All Other Fees(4)
    
    
    202
    
    
    
    130Total
    
    $
    12,323
    
    
    $
    9,949
 
 (1)
    
    Audit Fees, including those for statutory audits, include the aggregate fees expensed by
Accenture during the fiscal year indicated for professional services rendered by KPMG
for the audit of Accenture Ltds and Accenture SCAs annual financial statements and review
of financial statements included in Accentures Forms 10-Q and Form 10-K. For fiscal 2005,
Audit Fees includes fees for the audit of Accentures internal control over financial
reporting.(2)
    
    Audit Related Fees include the aggregate fees expensed by Accenture during the fiscal
year indicated for assurance and related services by KPMG that are reasonably related to
the performance of the audit or review of Accenture Ltds and Accenture SCAs financial
statements and not included in Audit Fees, including review of registration statements and
issuance of consents. Audit Related Fees also include fees for accounting advice and
opinions related to various employee benefit plans and fees for internal control
documentation assistance.(3)
    
    Tax Fees include the aggregate fees expensed by Accenture during the fiscal year
indicated for professional services rendered by KPMG for tax compliance, tax advice and
tax planning.(4)
    
    All Other Fees include the aggregate fees expensed by Accenture during the fiscal year
indicated for products and services provided by KPMG, other than the services reported
above, including due diligence reviews. Procedures For Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of
Independent Auditor
   50




---



##### 



ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
  1.
    Financial Statements as of August 31, 2005 and August 31, 2004 and for the three years ended
August 31, 2005Included in Part II of this Form 10-K:Consolidated Balance SheetsConsolidated Income StatementsConsolidated Shareholders Equity and Comprehensive Income StatementsConsolidated Cash Flows StatementsNotes to Consolidated Financial Statements2.
    Financial Statement Schedules:None3.
    Exhibit Index:
 ExhibitNumber
    
    Exhibit3.1
    
    
    Form of Articles of Association of Accenture SCA, consolidated
and updated as of June 28, 2005 (incorporated by reference to
Exhibit 10.1 to the May 31, 2005 10-Q).3.2
    
    

Form
of Bye-laws of Accenture Ltd, effective as of February
2, 2005 (incorporated by reference to Exhibit 3.1 to the
February 28, 2005 10-Q).9.1
    
    
    Form of Voting Agreement, dated as of April 18, 2001, among
Accenture Ltd and the covered persons party thereto as
amended and restated as of February 3, 2005 (incorporated by
reference to Exhibit 9.1 to the February 28, 2005 10-Q).10.1
    
    
    Form of Partner Matters Agreement, dated as of April 18, 2001,
among Accenture Ltd and the partners party thereto
(incorporated by reference to Exhibit 10.1 to the April 19,
2001 Form S-1).10.2
    
    
    Form of Non-Competition Agreement, dated as of April 18, 2001,
among Accenture Ltd and certain employees (incorporated by
reference to Exhibit 10.2 to the April 19, 2001 Form S-1).10.3
    
    
    2001 Share Incentive Plan (incorporated by reference to
Exhibit 10.3 to Accenture Ltds Registration Statement on
Form S-1/A filed on June 8, 2001 (the June 8, 2001 S-1/A)).10.4
    
    
    2001 Employee Share Purchase Plan (incorporated by reference
to Exhibit 10.4 to the June 8, 2001 S-1/A).10.5
    
    

Memorandum of Continuance of Accenture Ltd, dated February
21, 2001 (incorporated by reference to Exhibit 3.1 to Accenture Ltds Registration Statement on Form S-1/A filed on
July 2, 2001 (the July 2, 2001 Form S-1/A)).10.6
    
    
    Form of Accenture SCA Transfer Rights Agreement, dated as of
April 18, 2001, among Accenture SCA and the covered persons
party thereto as amended and restated as of February 3, 2005
(incorporated by reference to Exhibit 10.2 to the February 28,
2005 10-Q).10.7
    
    
    Form of Non-Competition Agreement, dated as of April 18, 2001,
among Accenture SCA and certain employees (incorporated by
reference to Exhibit 10.7 to the April 19, 2001 Form S-1).10.8
    
    
    Form of Letter Agreement, dated April 18, 2001, between
Accenture SCA and certain shareholders of Accenture SCA
(incorporated by reference to Exhibit 10.8 to the April 19,
2001 Form S-1).
 51




---



##### 



ExhibitNumber
    
    Exhibit10.9
    
    
    Form of Support Agreement, dated as of May 23, 2001, between
Accenture Ltd and Accenture Canada Holdings Inc.
(incorporated by reference to Exhibit 10.9 to the July 2, 2001
Form S-1/A).10.10
    
    
    Form of Employment Agreement of Messrs. Cole, Coughlan,
Frerichs, Green, McGrath, Rohleder and Scrivner and Ms.
Comerford (incorporated by reference to Exhibit 10.10 to the
June 8, 2001 S-1/A).10.11
    
    
    Form of Employment Agreement of Karl-Heinz Flöther
(incorporated by reference to Exhibit 10.3 to the November 30,
2001 10-Q).10.13
    
    
    Form of Employment Agreement of Diego Visconti (English
translation) (incorporated by reference to Exhibit 10.6 to the
November 30, 2001 10-Q).10.14
    
    
    Form of Employment Agreement of Messrs. Foster, Lajtha and
Thomlinson (incorporated by reference to Exhibit 10.8 to the
November 30, 2001 10-Q).10.15
    
    
    Form of Articles of Association of Accenture Canada Holdings
Inc. (incorporated by reference to Exhibit 10.11 to the July
2, 2001 Form S-1/A).10.16
    
    
    Form of Exchange Trust Agreement by and between Accenture Ltd
and Accenture Canada Holdings Inc. and CIBC Mellon Trust
Company, made as of May 23, 2001 (incorporated by reference to
Exhibit 10.12 to the July 2, 2001 Form S-1/A).10.17
    
    
    Form of Letter Agreement, dated May 21, 2001, between Accenture Ltd and Stichting Naritaweg I (incorporated by
reference to Exhibit 10.13 to the July 2, 2001 Form S-1/A).10.18
    
    

Form of Letter Agreement, dated May 21, 2001, between Accenture Ltd and Stichting Naritaweg II (incorporated by
reference to Exhibit 10.14 to the July 2, 2001 Form S-1/A).10.19
    
    
    Form of Transfer Restriction Agreement dated as of October 1,
2002 among Accenture Ltd and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit 9.1 to
the November 30, 2002 10-Q).10.20
    
    
    Form of Transfer Restriction Agreement dated as of October 1,
2002 among Accenture SCA and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit 9.1 to
Accenture SCAs November 30, 2002 10-Q).10.21
    
    
    Form of First Amendment, dated as of May 1, 2003, to Transfer
Restriction Agreement dated as of October 1, 2002 among
Accenture Ltd and the transferors and transferees signatory
thereto (incorporated by reference to Exhibit (d)(13) to
Accenture SCAs and Accenture International SARLs Schedule TO
filed on September 30, 2003).10.22
    
    
    Form of First Amendment, dated as of May 1, 2003, to Transfer
Restriction Agreement dated as of October 1, 2002 among
Accenture Ltd and the transferors and transferees signatory
thereto (incorporated by reference to Exhibit (d)(14) to
Accenture SCAs and Accenture International SARLs Schedule TO
filed on September 30, 2003).10.23
    
    
    Form of Second Amendment, dated as of October 1, 2003, to
Transfer Restriction Agreement dated as of October 1, 2002
among Accenture Ltd and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit
(d)(15) to Accenture SCAs and Accenture International SARLs
Schedule TO filed on April 29, 2004).10.24
    
    
    Form of Second Amendment, dated as of October 1, 2003, to
Transfer Restriction Agreement dated as of October 1, 2002
among Accenture SCA and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit
(d)(16) to Accenture SCAs and Accenture International SARLs
Schedule TO filed on April 29, 2004).10.25
    
    
    Form of Ltd Transfer Restriction Agreement for the Accenture
Family and Charitable Transfer Program dated as of April 1,
2005 among Accenture Ltd and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit 10.3
to the May 31, 2005 10-Q).10.26
    
    
    Form of SCA Transfer Restriction Agreement for the Accenture
Family and Charitable Transfer Program dated as of April 1,
2005 among Accenture SCA and the transferors and transferees
signatory thereto (incorporated by reference to Exhibit 10.2
to the May 31, 2005 10-Q).
 52




---



##### 



ExhibitNumber
    
    Exhibit10.27
    
    
    Form of Transfer Agreement (for transfers of Unrestricted
Shares of Accenture Ltd) for the Accenture Family and
Charitable Transfer Program dated as of April 1, 2005 among
Accenture Ltd and the transferors and transferees signatory
thereto ( incorporated by reference to Exhibit 10.5 to the May
31, 2005 10-Q).10.28
    
    
    Form of Transfer Agreement (for transfers of Unrestricted
Shares of Accenture SCA) for the Accenture Family and
Charitable Transfer Program dated as of April 1, 2005 among
Accenture SCA and the transferors and transferees signatory
thereto ( incorporated by reference to Exhibit 10.4 to the May
31, 2005 10-Q).10.29
    
    
    Form of RSU grant for senior executives pursuant to the
Accenture 2001 Employee Share Incentive Plan (incorporated by
reference to Exhibit 4.1 to the November 30, 2004 10-Q).10.30
    
    
    Form of stock option grant for senior executives pursuant to
the Accenture 2001 Employee Share Incentive Plan (incorporated
by reference to Exhibit 4.2 to the November 30, 2004 10-Q).21.1
    
    
    Subsidiaries of Accenture Ltd (incorporated by reference to
Exhibit 21.1 to Accenture Ltds Annual Report on Form 10-K for
the year ended August 31, 2003 filed on November 18, 2003).24.1
    
    
    Power of Attorney (included on the signature page hereto).31.1
    
    

Certification
of the Chief Executive Officer of Accenture Ltd, general partner of
Accenture SCA, pursuant to
Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section
302 of the Sarbanes-Oxley Act of 2002 (filed herewith).31.2
    
    

Certification
of the Chief Financial Officer of Accenture Ltd, general partner of
Accenture SCA, pursuant to
Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section
302 of the Sarbanes-Oxley Act of 2002 (filed herewith).32.1
    
    
    Certification of the Chief Executive Officer of Accenture Ltd, general partner of
Accenture SCA, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 (filed herewith).32.2
    
    
    Certification of the Chief Financial Officer of Accenture Ltd, general partner of
Accenture SCA, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 (filed herewith).99.1
    
    
    Schedule
of reclassified quarterly revenues before reimbursements by geography
for fiscal 2005 (incorporated by reference to Exhibit 99.1 to
Accenture Ltds Annual Report on Form 10-K for the fiscal year
ended August 31, 2005 filed on October 31, 2005).99.2
    
    
    Incorporated portions of Accenture Ltds Annual Report on Form
10-K for the fiscal year ended August 31, 2005 (filed herewith).
 53




---



##### 



SIGNATURES
  ACCENTURE SCA, represented by its general partner, Accenture Ltd, itself represented by its duly authorized signatoryBy:

/s/
Douglas G. ScrivnerName:
    Douglas G. ScrivnerTitle:
    General Counsel & Secretary POWER OF ATTORNEY
   Signature
    

Title/s/
Joe W. Forehand
    
    Chairman of the BoardJoe W. Forehand/s/ William D. Green
    
    Chief Executive Officer and DirectorWilliam D. Green
    
    (principal
executive officer)/s/ Steven A. Ballmer
    
    DirectorSteven A. Ballmer/s/ Dina Dublon
    
    DirectorDina Dublon/s/ Dennis F. Hightower
    
    DirectorDennis F. Hightower/s/ William L. Kimsey
    
    DirectorWilliam L. Kimsey/s/ Robert I. Lipp
    
    DirectorRobert I. Lipp




---



##### 



Signature
    

Title/s/ Blythe J. McGarvie
    
    DirectorBlythe J. McGarvie/s/ Sir Mark Moody-Stuart
    
    DirectorSir Mark Moody-Stuart/s/ Carlos Vidal
    
    DirectorCarlos Vidal/s/ Wulf von Schimmelmann
    
    DirectorWulf von Schimmelmann/s/ Michael G. McGrath
    
    Chief Financial OfficerMichael G. McGrath
    
    (principal
financial officer)/s/ Anthony G. Coughlan
    
    Principal Accounting Officer and ControllerAnthony G. Coughlan
    
    (principal
accounting officer)




---



##### 



ACCENTURE SCA
 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
 PageReports of Independent Registered Public Accounting Firm
    
    
    F-2Consolidated Financial Statements as of August 31, 2005 and August 31,
2004 and for the three years ended August 31, 2005:Consolidated Balance Sheets
    
    
    F-4Consolidated Income Statements
    
    
    F-6Consolidated Shareholders Equity and Comprehensive Income Statements
    
    
    F-7Consolidated Cash Flows Statements
    
    
    F-9Notes to Consolidated Financial Statements
    
    
    F-10
 F-1




---



##### 



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 To the General Partners and Shareholders  Accenture SCA:
     
 F-2




---



##### 



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 To the General Partners and Shareholders  Accenture SCA:
 ,
    . .
  
 F-3




---



##### 



ACCENTURE SCA
 
 CONSOLIDATED BALANCE SHEETS
 August 31, 2005 and 2004
(In thousands of U.S. dollars, except share and per share amounts)
 2005
    
    
    2004ASSETSCURRENT ASSETS:Cash and cash equivalents
    
    $
    2,483,990
    
    
    $
    2,552,958Short-term investments
    
    
    463,460
    
    
    
    285,288Receivables from clients, net of allowances of $40,821 and $40,687
    
    
    1,752,937
    
    
    
    1,662,211Unbilled services
    
    
    1,353,676
    
    
    
    1,049,870Deferred income taxes, net
    
    
    121,386
    
    
    
    87,636Other current assets
    
    
    509,818
    
    
    
    501,231Total current assets
    
    
    6,685,267
    
    
    
    6,139,194NON-CURRENT ASSETS:Unbilled services
    
    
    472,430
    
    
    
    211,705Investments
    
    
    262,873
    
    
    
    340,121Property and equipment, net
    
    
    693,710
    
    
    
    643,946Goodwill
    
    
    378,488
    
    
    
    214,482Deferred income taxes, net
    
    
    291,033
    
    
    
    327,045Other non-current assets
    
    
    173,551
    
    
    
    136,991Total non-current assets
    
    
    2,272,085
    
    
    
    1,874,290TOTAL ASSETS
    
    $
    8,957,352
    
    
    $
    8,013,484LIABILITIES AND SHAREHOLDERS EQUITYCURRENT LIABILITIES:Short-term bank borrowings
    
    $
    13,681
    
    
    $
    20,103Current portion of long-term debt
    
    
    17,391
    
    
    
    16,612Accounts payable
    
    
    807,317
    
    
    
    523,931Deferred revenues
    
    
    1,284,303
    
    
    
    980,461Accrued payroll and related benefits
    
    
    1,430,998
    
    
    
    1,463,126Income taxes payable
    
    
    831,399
    
    
    
    795,948Deferred income taxes, net
    
    
    42,609
    
    
    
    42,744Other accrued liabilities
    
    
    434,691
    
    
    
    550,864Total current liabilities
    
    
    4,862,389
    
    
    
    4,393,789NON-CURRENT LIABILITIES:Long-term debt
    
    
    44,116
    
    
    
    32,161Retirement obligation
    
    
    753,558
    
    
    
    577,307Deferred income taxes, net
    
    
    5,621
    
    
    
    18,769Other non-current liabilities
    
    
    613,795
    
    
    
    578,689Total non-current liabilities
    
    
    1,417,090
    
    
    
    1,206,926MINORITY INTEREST
    
    
    62,070
    
    
    
    37,679SHAREHOLDERS EQUITY:Class I common shares, par value 1.25 euros per share,
10,000,000,000 and 19,782,549,738 shares authorized, 587,296,594
and 753,843,192 issued as of August 31, 2005 and 2004,
respectively
    
    
    658,258
    
    
    
    845,307Class II common shares, par value 1.25 euros per share,
20,000,000,000 shares authorized, 470,958,308 shares issued and
outstanding
    
    
    529,281
    
    
    
    529,281Class III-A (Class I-A at August 31, 2004) common shares, par
value 1.25 euros per share, 5,000,000 shares
authorized, issued and outstanding
    
    
    5,435
    
    
    
    5,435Class III-B (Class I-B at August 31, 2004) common shares, par
value 1.25 euros per share, 5,000,000 shares
authorized, issued and outstanding
    
    
    5,435
    
    
    
    5,435Class III-C (Class I-C at August 31, 2004) common shares, par
value 1.25 euros per share, 10,000,000 shares
authorized, issued and outstanding
    
    
    10,870
    
    
    
    10,870Class III-D (Class I-D at August 31, 2004) common shares, par
value 1.25 euros per share, 10,000,000 shares
authorized, issued and outstanding
    
    
    10,870
    
    
    
    10,870Class III-E (Class I-E at August 31, 2004) common shares, par
value 1.25 euros per share, 15,000,000 shares
authorized, issued and outstanding
    
    
    16,304
    
    
    
    16,304Class III-F (Class I-F at August 31, 2004) common shares, par
value 1.25 euros per share, 15,000,000 shares
authorized, issued and outstanding
    
    
    16,304
    
    
    
    16,304Class III-G (Class I-G at August 31, 2004) common shares, par
value 1.25 euros per share, 20,000,000 shares
authorized, issued and outstanding
    
    
    21,739
    
    
    
    21,739Class III-H (Class I-H at August 31, 2004) common shares, par
value 1.25 euros per share, 25,000,000 shares
authorized, issued and outstanding
    
    
    27,174
    
    
    
    27,174Class III-I (Class I-I at August 31, 2004) common shares, par
value 1.25 euros per share, 5,000,000 shares
authorized, issued and outstanding
    
    
    5,435
    
    
    
    5,435Class III-J (Class I-J at August 31, 2004) common shares, par
value 1.25 euros per share, 5,000,000 shares
authorized, issued and outstanding
    
    
    5,435
    
    
    
    5,435Class III-K (Class I-K at August 31, 2004) common shares, par
value 1.25 euros per share, 16,050,000 shares
authorized, issued and outstanding
    
    
    18,074
    
    
    
    18,074Class III-L (Class I-L at August 31, 2004) common shares, par
value 1.25 euros per share, 5,025,720 shares
authorized, issued and outstanding
    
    
    5,540
    
    
    
    5,540
 F-4




---



##### 



2005
    
    
    2004Class III-M (Class I-M at August 31, 2004) common shares, par
value 1.25 euros per share, 68,626,707 shares
authorized, issued and outstanding
    
    
    78,398
    
    
    
    78,398Class III-N (Class I-N at August 31, 2004) common shares, par
value 1.25 euros per share, 12,747,835 shares
authorized, issued and outstanding
    
    
    18,301
    
    
    
    18,301Class III common shares, par value 1.25 euros per share,
9,782,549,738 and zero shares authorized, 166,546,598 and zero
issued as of August 31, 2005 and 2004, respectively
    
    
    187,049
    
    
    
    Restricted share units (related to Accenture Ltd Class A common
shares), 32,180,787 and 28,278,704 units issued and outstanding
as of August 31, 2005 and 2004, respectively
    
    
    606,623
    
    
    
    475,240Deferred compensation
    
    
    (240,915
    )
    
    
    (150,777
    )Additional paid-in capital
    
    
    3,017,187
    
    
    
    2,976,655Treasury shares, at cost, 128,969,153 and 83,869,278 Class III
common shares at August 31, 2005 and 2004, respectively
    
    
    (3,027,009
    )
    
    
    (1,898,744
    )Investment in Accenture Ltd shares, at cost, 2,353,924 and
1,421,944 shares at August 31, 2005 and 2004, respectively
    
    
    (58,314
    )
    
    
    (35,697
    )Retained earnings (deficit)
    
    
    930,813
    
    
    
    (497,729
    )Accumulated other comprehensive loss
    
    
    (232,484
    )
    
    
    (113,760
    )Total shareholders equity
    
    
    2,615,803
    
    
    
    2,375,090TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
    
    $
    8,957,352
    
    
    $
    8,013,484
  F-5




---



##### 



ACCENTURE SCA
 
 CONSOLIDATED INCOME STATEMENTS
 For the Years Ended August 31, 2005, 2004 and 2003
(In thousands of U.S. dollars)
 2005
    
    
    2004
    
    
    2003REVENUES:Revenues before reimbursements
    
    $
    15,547,029
    
    
    $
    13,673,563
    
    
    $
    11,817,999Reimbursements
    
    
    1,547,391
    
    
    
    1,440,019
    
    
    
    1,579,241Revenues
    
    
    17,094,420
    
    
    
    15,113,582
    
    
    
    13,397,240OPERATING EXPENSES:Cost of services:Cost of services before reimbursable expenses
    
    
    10,454,830
    
    
    
    9,057,246
    
    
    
    7,508,059Reimbursable expenses
    
    
    1,547,391
    
    
    
    1,440,019
    
    
    
    1,579,241Cost of services
    
    
    12,002,221
    
    
    
    10,497,265
    
    
    
    9,087,300Sales and marketing
    
    
    1,558,266
    
    
    
    1,488,333
    
    
    
    1,458,484General and administrative costs
    
    
    1,511,952
    
    
    
    1,340,467
    
    
    
    1,319,567Reorganization and restructuring (benefits) costs
    
    
    (89,257
    )
    
    
    28,891
    
    
    
    (19,346
    )Total operating expenses
    
    
    14,983,182
    
    
    
    13,354,956
    
    
    
    11,846,005OPERATING INCOME
    
    
    2,111,238
    
    
    
    1,758,626
    
    
    
    1,551,235Gain on investments, net
    
    
    21,468
    
    
    
    3,397
    
    
    
    10,123Interest income
    
    
    108,236
    
    
    
    59,939
    
    
    
    41,130Interest expense
    
    
    (23,973
    )
    
    
    (22,044
    )
    
    
    (21,016
    )Other (expense) income
    
    
    (10,967
    )
    
    
    160
    
    
    
    31,754Equity in losses of affiliates
    
    
    
    
    
    
    (1,508
    )
    
    
    (409
    )INCOME BEFORE INCOME TAXES
    
    
    2,206,002
    
    
    
    1,798,570
    
    
    
    1,612,817Provision for income taxes
    
    
    697,097
    
    
    
    575,543
    
    
    
    566,099INCOME BEFORE MINORITY INTEREST
    
    
    1,508,905
    
    
    
    1,223,027
    
    
    
    1,046,718Minority
interest in Accenture Canada Holdings Inc.
    
    
    (7,590
    )
    
    
    (7,581
    )
    
    
    (7,859
    )Minority interest  other
    
    
    (11,946
    )
    
    
    (2,527
    )
    
    
    1,027NET INCOME
    
    $
    1,489,369
    
    
    $
    1,212,919
    
    
    $
    1,039,886
  F-6




---



##### 



ACCENTURE SCA
 
 CONSOLIDATED SHAREHOLDERS EQUITY AND COMPREHENSIVE INCOME STATEMENTS
 For the Years Ended August 31, 2005, 2004 and 2003
(In thousands of U.S. dollars and in thousands of share amounts)
 Restricted ShareUnits (Related toClass I Common
    
    
    Class II Common
    
    
    Class III Common

    
    Accenture Ltd Class
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Investment in
    
    
    
    
    
    
    
    
    
    AccumulatedShares
    
    
    Shares
    
    
    Shares

    
    A Common Shares)
    
    
    
    
    
    
    Additional
    
    
    Treasury Shares
    
    
    Accenture Ltd.
    
    
    Investment in

    
    
    
    
    
    OtherNo.
    
    
    
    
    
    
    No.
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    No.
    
    
    Deferred
    
    
    Paid-in
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    No.
    
    
    Accenture Ltd. - SECT

    
    Retained
    
    
    Comprehensive$
    
    
    Shares
    
    
    $
    
    
    Shares
    
    
    $
    

    No. Shares

    
    $
    
    
    Shares
    
    
    Compensation
    
    
    Capital
    
    
    $
    
    
    No. Shares
    
    
    $
    
    
    Shares
    
    
    $
    

    No. Shares

    
    Earnings
    
    
    Income (Loss)
    
    
    TotalBalance at August 31, 2002
    
    $
    1,072,320
    
    
    
    958,546
    
    
    $
    529,281
    
    
    
    470,958
    
    
    $
    
    
    
    
    
    
    
    $
    945,311
    
    
    
    63,294
    
    
    $
    (62,037
    )
    
    $
    2,946,458
    
    
    $
    (1,052,900
    )
    
    
    (54,277
    )
    
    $
    (315,486
    )
    
    
    (13,727
    )
    
    $
    (221,110
    )
    
    
    (12,562
    )
    
    $
    (2,798,519
    )
    
    $
    (80,432
    )
    
    $
    962,886Comprehensive incomeNet income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,039,886
    
    
    
    
    
    
    
    1,039,886Other
comprehensive income (loss):Unrealized gains on marketable securities,
net of reclassification adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3,161
    
    
    
    3,161Foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (3,419
    )
    
    
    (3,419
    )Minimum pension liability adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (107,543
    )
    
    
    (107,543
    )Other comprehensive loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (107,801
    )Comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    932,085Income tax benefit on:Stock-based compensation plans
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    34,081
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    34,081Contract termination
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    48,555
    
    
    
    
    
    
    
    48,555Purchases of Accenture Ltd Class A common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (53,389
    )
    
    
    
    
    
    
    
    
    
    
    (79,944
    )
    
    
    (4,789
    )
    
    
    (151,763
    )
    
    
    (8,620
    )
    
    
    
    
    
    
    
    
    
    
    (285,096
    )Transfer of shares from SECT to Ltd
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (63,995
    )
    
    
    (3,100
    )
    
    
    63,995
    
    
    
    3,100
    
    
    
    
    
    
    
    
    
    
    
    Grants of restricted share units, net
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    99,184
    
    
    
    6,141
    
    
    
    (99,184
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Stock-based compensation expense
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    48,970
    
    
    
    2,645
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    51,615Purchases/redemptions of Accenture SCA Class I common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,536
    )
    
    
    (273,782
    )
    
    
    (15,873
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (275,318
    )Issuance of Class A common shares:Employee share purchase plan
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (99,478
    )
    
    
    174,229
    
    
    
    8,981
    
    
    
    82,493
    
    
    
    3,877
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    157,244Employee stock options
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (26,053
    )
    
    
    87,104
    
    
    
    4,654
    
    
    
    24,312
    
    
    
    1,165
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    85,363Restricted share units
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (374,635
    )
    
    
    (25,534
    )
    
    
    
    
    
    
    (108,177
    )
    
    
    218,390
    
    
    
    11,258
    
    
    
    264,422
    
    
    
    11,345
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Transaction fees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    13,477
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    13,477Contract termination
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,707
    
    
    
    
    
    
    
    1,707Stock option expense
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    954
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    954Minority interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (6,734
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (6,734
    )Balance at August 31, 2003
    
    $
    1,072,320
    
    
    
    958,546
    
    
    $
    529,281
    
    
    
    470,958
    
    
    $
    
    
    
    
    
    
    
    $
    669,860
    
    
    
    43,901
    
    
    $
    (112,251
    )
    
    $
    2,702,248
    
    
    $
    (846,959
    )
    
    
    (45,257
    )
    
    $
    (88,198
    )
    
    
    (5,229
    )
    
    $
    (308,878
    )
    
    
    (18,082
    )
    
    $
    (1,708,371
    )
    
    $
    (188,233
    )
    
    $
    1,720,819Comprehensive incomeNet income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,212,919
    
    
    
    
    
    
    
    1,212,919Other comprehensive income:Unrealized gains on marketable securities,
net of reclassification adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,585
    
    
    
    1,585Foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    44,312
    
    
    
    44,312Minimum pension liability adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (4,350
    )
    
    
    28,576
    
    
    
    24,226Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    74,473Comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,283,042Income tax benefit on:Stock-based compensation plans
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    30,235
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    30,235Contract termination
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,073
    
    
    
    
    
    
    
    2,073Purchases of Accenture Ltd Class A common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (79,491
    )
    
    
    
    
    
    
    
    
    
    
    (89,236
    )
    
    
    (3,511
    )
    
    
    (78,965
    )
    
    
    (3,500
    )
    
    
    
    
    
    
    
    
    
    
    (247,692
    )Transfer of shares from SECT
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,324
    
    
    
    (92,119
    )
    
    
    (3,707
    )
    
    
    (304,048
    )
    
    
    (17,879
    )
    
    
    387,843
    
    
    
    21,582
    
    
    
    
    
    
    
    
    
    
    
    Grants of restricted share units, net
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    97,960
    
    
    
    4,186
    
    
    
    (97,960
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Stock-based compensation expense
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    59,434
    
    
    
    1,052
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    60,486Purchases/redemptions of Accenture SCA Class I
common shares and Accenture Canada Holdings
Inc. exchangeable shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (44,828
    )
    
    
    (3,181,473
    )
    
    
    (146,391
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (3,226,301
    )Issuance of Class A common shares:Employee share purchase plan
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (15,668
    )
    
    
    63,407
    
    
    
    3,287
    
    
    
    86,951
    
    
    
    4,394
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    134,690Employee stock options
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (63,332
    )
    
    
    164,861
    
    
    
    8,467
    
    
    
    69,688
    
    
    
    3,252
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    171,217Restricted share units
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (292,580
    )
    
    
    (19,808
    )
    
    
    
    
    
    
    (73,449
    )
    
    
    360,284
    
    
    
    16,824
    
    
    
    5,745
    
    
    
    251
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    In September 2003 secondary offering
    
    
    18,301
    
    
    
    12,748
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    369,582
    
    
    
    750,591
    
    
    
    39,647
    
    
    
    283,401
    
    
    
    17,300
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,421,875In May 2004 secondary offering
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    105,509
    
    
    
    882,664
    
    
    
    43,261
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    988,173Transaction fees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    25,519
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    25,519Minority interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    10,954
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    10,954
 F-7




---



##### 



Restricted ShareUnits (Related toClass I Common
    
    
    Class II Common
    
    
    Class III Common
    
    
    Accenture Ltd Class
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Investment in
    
    
    
    
    
    
    
    
    
    AccumulatedShares
    
    
    Shares
    
    
    Shares
    
    
    A Common Shares)
    
    
    
    
    
    
    Additional
    
    
    Treasury Shares
    
    
    Accenture Ltd.
    
    
    Investment in
    
    
    
    
    
    
    OtherNo.
    
    
    
    
    
    
    No.
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    No.
    
    
    Deferred
    
    
    Paid-in
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    No.
    
    
    Accenture Ltd. - SECT
    
    
    Retained
    
    
    Comprehensive$
    
    
    Shares
    
    
    $
    
    
    Shares
    
    
    $
    
    
    No. Shares
    
    
    $
    
    
    Shares
    
    
    Compensation
    
    
    Capital
    
    
    $
    
    
    No. Shares
    
    
    $
    
    
    Shares
    
    
    $
    
    
    No. Shares
    
    
    Earnings
    
    
    Income (Loss)
    
    
    TotalBalance at August 31, 2004
    
    $
    1,090,621
    
    
    
    971,294
    
    
    $
    529,281
    
    
    
    470,958
    
    
    $
    
    
    
    
    
    
    
    $
    475,240
    
    
    
    28,279
    
    
    $
    (150,777
    )
    
    $
    2,976,655
    
    
    $
    (1,898,744
    )
    
    
    (83,869
    )
    
    $
    (35,697
    )
    
    
    (1,422
    )
    
    $
    
    
    
    
    
    
    
    $
    (497,729
    )
    
    $
    (113,760
    )
    
    $
    2,375,090Comprehensive incomeNet income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,489,369
    
    
    
    
    
    
    
    1,489,369Other comprehensive loss:Unrealized loss on marketable securities,
net of reclassification adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,743
    )
    
    
    (2,743
    )Foreign currency translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (20,284
    )
    
    
    (20,284
    )Minimum pension liability adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (95,697
    )
    
    
    (95,697
    )Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (118,724
    )Comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,370,645Income tax benefit on:Stock-based compensation plans
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    75,532
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    75,532Costs related to issuance of shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,846
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,846Contract termination
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    134
    
    
    
    
    
    
    
    134Purchases of Accenture Ltd Class A common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (13,286
    )
    
    
    
    
    
    
    
    
    
    
    (22,617
    )
    
    
    (931
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (35,903
    )Reclassification of Class I common shares to
Class III common shares
    
    
    (432,363
    )
    
    
    (383,997
    )
    
    
    
    
    
    
    
    
    
    
    432,363
    
    
    
    383,997
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Grants of restricted share units, net
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    177,778
    
    
    
    6,745
    
    
    
    (177,778
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Stock-based compensation expense
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    87,640
    
    
    
    
    
    
    
    701
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    88,341Purchases/redemptions of Accenture SCA Class I
common shares and Accenture Canada Holdings
Inc. exchangeable shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (22,335
    )
    
    
    (1,553,293
    )
    
    
    (64,741
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,575,628
    )Issuance of Class A common shares:Employee share purchase plan
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (8,023
    )
    
    
    196,343
    
    
    
    8,543
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (19,996
    )
    
    
    
    
    
    
    168,324Employee stock options
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (11,746
    )
    
    
    175,897
    
    
    
    8,592
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (37,195
    )
    
    
    
    
    
    
    126,956Restricted share units
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (46,395
    )
    
    
    (2,843
    )
    
    
    
    
    
    
    (2,623
    )
    
    
    52,788
    
    
    
    2,506
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (3,770
    )
    
    
    
    
    
    
    Transaction fees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3,427
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3,427Minority interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    10,039
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    10,039Balance at August 31, 2005
    
    $
    658,258
    
    
    
    587,297
    
    
    $
    529,281
    
    
    
    470,958
    
    
    $
    432,363
    
    
    
    383,997
    
    
    $
    606,623
    
    
    
    32,181
    
    
    $
    (240,915
    )
    
    $
    3,017,187
    
    
    $
    (3,027,009
    )
    
    
    (128,969
    )
    
    $
    (58,314
    )
    
    
    (2,353
    )
    
    $
    
    
    
    
    
    
    
    $
    930,813
    
    
    $
    (232,484
    )
    
    $
    2,615,803
  F-8




---



##### 



ACCENTURE SCA
 
 CONSOLIDATED CASH FLOWS STATEMENTS
 For the Years Ended August 31, 2005, 2004 and 2003
(In thousands of U.S. dollars)
 2005
    
    
    2004
    
    
    2003CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    1,489,369
    
    
    $
    1,212,919
    
    
    $
    1,039,886Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization
    
    
    282,073
    
    
    
    257,080
    
    
    
    237,205Reorganization benefits
    
    
    (89,257
    )
    
    
    (78,365
    )
    
    
    (19,346
    )Gains on investments, net
    
    
    (21,468
    )
    
    
    (3,397
    )
    
    
    (10,123
    )Losses on disposal of property and equipment, net
    
    
    6,254
    
    
    
    8,596
    
    
    
    2,826Stock-based compensation expense
    
    
    88,341
    
    
    
    60,486
    
    
    
    51,615Deferred income taxes, net
    
    
    63,139
    
    
    
    92,864
    
    
    
    53,781Minority interest
    
    
    19,536
    
    
    
    10,108
    
    
    
    6,832Other items, net
    
    
    (1,089
    )
    
    
    (121
    )
    
    
    1,711Change in assets and liabilities Receivables from clients, net
    
    
    (56,267
    )
    
    
    (182,998
    )
    
    
    23,444Other current assets
    
    
    12,399
    
    
    
    (208,802
    )
    
    
    79,381Unbilled services, current and non-current
    
    
    (596,984
    )
    
    
    (222,428
    )
    
    
    (26,603
    )Other non-current assets
    
    
    (24,853
    )
    
    
    (84,703
    )
    
    
    (26,402
    )Accounts payable
    
    
    270,499
    
    
    
    (65,486
    )
    
    
    106,704Deferred revenues
    
    
    334,121
    
    
    
    275,371
    
    
    
    88,365Accrued payroll and related benefits
    
    
    (60,147
    )
    
    
    498,293
    
    
    
    (203,187
    )Income taxes payable
    
    
    115,950
    
    
    
    143,229
    
    
    
    250,599Other accrued liabilities
    
    
    (35,149
    )
    
    
    162,675
    
    
    
    (127,444
    )Other non-current liabilities
    
    
    90,614
    
    
    
    (119,372
    )
    
    
    15,101Net cash provided by operating activities
    
    
    1,887,081
    
    
    
    1,755,949
    
    
    
    1,544,345CASH FLOWS FROM INVESTING ACTIVITIES:Proceeds from maturities and sales of available-for-sale investments
    
    
    944,484
    
    
    
    421,003
    
    
    
    103,790Purchases of available-for-sale investments
    
    
    (1,019,317
    )
    
    
    (1,014,998
    )
    
    
    Proceeds from sales of property and equipment
    
    
    6,318
    
    
    
    11,026
    
    
    
    18,768Purchases of property and equipment
    
    
    (317,772
    )
    
    
    (281,986
    )
    
    
    (211,565
    )Purchases of businesses and investments, net of cash acquired
    
    
    (188,469
    )
    
    
    (31,662
    )
    
    
    (19,833
    )Net cash used in investing activities
    
    
    (574,756
    )
    
    
    (896,617
    )
    
    
    (108,840
    )CASH FLOWS FROM FINANCING ACTIVITIES:Payment of retirement benefits to former pre-incorporation partners
    
    
    (38,453
    )
    
    
    (30,606
    )
    
    
    (44,714
    )Contract termination payment
    
    
    
    
    
    
    
    
    
    
    (147,569
    )Proceeds from issuance of common shares
    
    
    298,707
    
    
    
    2,741,474
    
    
    
    256,084Purchase of common shares
    
    
    (1,625,097
    )
    
    
    (3,459,934
    )
    
    
    (560,414
    )Proceeds from issuance of long-term debt
    
    
    6,061
    
    
    
    799
    
    
    
    2,006Repayments of long-term debt
    
    
    (9,467
    )
    
    
    (4,058
    )
    
    
    (5,953
    )Proceeds from issuance of short-term bank borrowings
    
    
    61,834
    
    
    
    96,851
    
    
    
    116,978Repayments of short-term bank borrowings
    
    
    (71,043
    )
    
    
    (115,491
    )
    
    
    (135,449
    )Decrease (increase) in restricted cash of Accenture Share Employee Compensation Trust
    
    
    
    
    
    
    83,280
    
    
    
    (3,835
    )Net cash used in financing activities
    
    
    (1,377,458
    )
    
    
    (687,685
    )
    
    
    (522,866
    )Effect of exchange rate changes on cash and cash equivalents
    
    
    (3,835
    )
    
    
    49,150
    
    
    
    102,546NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
    
    
    (68,968
    )
    
    
    220,797
    
    
    
    1,015,185CASH AND CASH EQUIVALENTS,beginning of period
    
    
    2,552,958
    
    
    
    2,332,161
    
    
    
    1,316,976CASH AND CASH EQUIVALENTS,end of period
    
    $
    2,483,990
    
    
    $
    2,552,958
    
    
    $
    2,332,161Supplemental cash flow informationInterest paid
    
    $
    23,597
    
    
    $
    21,970
    
    
    $
    20,117Income taxes paid
    
    $
    573,026
    
    
    $
    387,450
    
    
    $
    255,219
  F-9




---



##### 



ACCENTURE SCA
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 Description of Business
    Principles of Consolidation
    Revenue Recognition
 Accounting for Performance
of Construction-Type and Certain Production-Type Contracts
 Revenue Recognition in
Financial Statements Revenue Recognition
 F-10




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
    Accounting for Revenue Arrangements with Multiple Deliverables
    F-11




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share  amounts or as otherwise disclosed)
   Operating Expenses
  Year Ended August 31,2005
    
    
    2004
    
    
    2003Research and development costs
    
    $
    243,449
    
    
    $
    271,943
    
    
    $
    250,374Training costs
    
    
    546,248
    
    
    
    401,266
    
    
    
    390,803Advertising costs
    
    
    65,902
    
    
    
    61,932
    
    
    
    69,544Release of doubtful accounts
    
    
    (3,849
    )
    
    
    (641
    )
    
    
    (20,243
    )
  Translation of Non-U.S. Currency Amounts
   Cash and Cash Equivalents
  Client Receivables and Allowance for Doubtful Accounts
  Investments
  F-12




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share  amounts or as otherwise disclosed)
  Foreign Exchange Instruments
 Accounting for Derivative Instruments and Hedging Activities
 Property and Equipment
  Buildings
    
    20 to 33 yearsLeasehold improvements
    
    Lesser of term of lease or 15 yearsComputers, related equipment and software
    
    2 to 7 yearsFurniture and fixtures
    
    5 to 10 years
 Long-Lived Assets
  Employee Stock-Based Compensation Awards
 Accounting for Stock Issued to Employees Share-Based Payment Accounting for Stock-Based Compensation
  F-13




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Year Ended August 31,2005
    
    
    2004
    
    
    2003Net income as reported
    
    $
    1,489,369
    
    
    $
    1,212,919
    
    
    $
    1,039,886Add: Stock-based compensation expense already included in
net income as reported, net of tax and minority interest
    
    
    81,710
    
    
    
    55,205
    
    
    
    46,464Deduct: Pro forma employee compensation cost related to
stock options, restricted share units and employee share
purchase plan, net of tax and minority interest
    
    
    (233,309
    )
    
    
    (150,594
    )
    
    
    (173,131
    )Subtotal
    
    
    (151,599
    )
    
    
    (95,389
    )
    
    
    (126,667
    )Pro forma net income
    
    $
    1,337,770
    
    
    $
    1,117,530
    
    
    $
    913,219
  Year Ended August 31,2005
    
    2004
    
    2003Non-
    
    
    
    
    
    Non-
    
    
    
    
    
    Non-Stock Options
    
    Partners
    
    partners
    
    Partners
    
    partners
    
    Partners
    
    partnersExpected life (in years)
    
    
    6
    
    
    
    5
    
    
    
    6
    
    
    
    5
    
    
    
    6
    
    
    
    5Risk-free interest rate
    
    
    4.02
    %
    
    
    3.52
    %
    
    
    3.58
    %
    
    
    3.29
    %
    
    
    3.33
    %
    
    
    2.89
    %Expected volatility
    
    
    41
    %
    
    
    41
    %
    
    
    44
    %
    
    
    44
    %
    
    
    50
    %
    
    
    50
    %Expected dividend yield
    
    
    0
    %
    
    
    0
    %
    
    
    0
    %
    
    
    0
    %
    
    
    0
    %
    
    
    0
    %
 Employee Share Purchase Plan
    
    2005
    
    2004
    
    2003Expected life (in years)
    
    
    0.5
    
    
    
    0.5
    
    
    
    0.5Risk-free interest rate
    
    
    1.72
    %
    
    
    1.10
    %
    
    
    1.50
    %Expected volatility
    
    
    42
    %
    
    
    45
    %
    
    
    50
    %Expected dividend yield
    
    
    0
    %
    
    
    0
    %
    
    
    0
    %
 Use of Estimates
  Reclassifications
  Concentrations of Credit Risk
   Newly Issued Accounting Standard
 Share-Based Payment Accounting for Stock-Based Compensation Accounting for Stock Issued to Employees,
 F-14




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
     F-15




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 2. RESTRUCTURING AND REORGANIZATION (BENEFITS) COSTS
 Restructuring
    Year Ended August 31, 2005
    
    
    Year Ended August 31, 2004Fiscal 2004
    
    
    Fiscal 2002
    
    
    Fiscal 2004
    
    
    Fiscal 2002Restructuring
    
    
    Restructuring
    
    
    Restructuring
    
    
    RestructuringRestructuring liability balance, beginning of period
    
    $
    78,756
    
    
    $
    24,005
    
    
    $
    
    
    
    $
    40,327Restructuring expense
    
    
    
    
    
    
    
    
    
    
    107,256
    
    
    
    Payments made
    
    
    (16,519
    )
    
    
    (13,063
    )
    
    
    (10,463
    )
    
    
    (20,394
    )Other(1)
    
    
    (2,326
    )
    
    
    (934
    )
    
    
    (18,037
    )
    
    
    4,072Restructuring liability balance, end of period
    
    $
    59,911
    
    
    $
    10,008
    
    
    $
    78,756
    
    
    $
    24,005
 
 (1)
    
    Other represents foreign currency translation, imputed interest and immaterial changes in
lease estimates.  Reorganization
   Year Ended August 31,2005
    
    
    2004
    
    
    2003Reorganization liability balance, beginning of period
    
    $
    454,042
    
    
    $
    510,149
    
    
    $
    443,089Final Determinations (1)
    
    
    (115,444
    )
    
    
    (80,112
    )
    
    
    (8,000
    )Changes in estimates
    
    
    
    
    
    
    (25,547
    )
    
    
    (39,485
    )Benefit recorded
    
    
    (115,444
    )
    
    
    (105,659
    )
    
    
    (47,485
    )Interest expense accrued
    
    
    26,187
    
    
    
    27,294
    
    
    
    28,139Payments
    
    
    
    
    
    
    
    
    
    
    Benefits, net of accrued interest and payments
    
    
    (89,257
    )
    
    
    (78,365
    )
    
    
    (19,346
    )Foreign currency translation
    
    
    16,655
    
    
    
    22,258
    
    
    
    86,406Reorganization liability, end of period
    
    $
    381,440
    
    
    $
    454,042
    
    
    $
    510,149
 
 (1)
    
    Includes final agreements with tax authorities and expirations of statutes of limitations.  F-16




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share  amounts or as otherwise disclosed)
 3. ACCUMULATED OTHER COMPREHENSIVE LOSS
  August 31,2005
    
    
    2004Foreign currency translation adjustments
    
    $
    (43,036
    )
    
    $
    (22,752
    )Unrealized (losses) gains on marketable
securities, net of reclassification adjustments
    
    
    (2,219
    )
    
    
    524Minimum pension liability adjustments, net of tax
    
    
    (187,229
    )
    
    
    (91,532
    )Accumulated other comprehensive loss
    
    $
    (232,484
    )
    
    $
    (113,760
    )
 4. PROPERTY AND EQUIPMENT
  August 31,2005
    
    
    2004Buildings and land
    
    $
    3,272
    
    
    $
    3,206Leasehold improvements
    
    
    459,443
    
    
    
    437,780Computers, related equipment and software
    
    
    1,218,029
    
    
    
    1,144,252Furniture and fixtures
    
    
    281,624
    
    
    
    278,208Property and equipment, gross
    
    
    1,962,368
    
    
    
    1,863,446Total accumulated depreciation
    
    
    (1,268,658
    )
    
    
    (1,219,500
    )Property and equipment, net
    
    $
    693,710
    
    
    $
    643,946
 5. BUSINESS COMBINATIONS AND GOODWILL
   Goodwill and Other Intangible Assets
 Foreign
    
    
    
    
    
    
    
    
    
    
    ForeignBalance at
    
    
    
    
    
    
    currency
    
    
    Balance at
    
    
    
    
    
    
    currency
    
    
    Balance atAugust 31,
    
    
    Additions/
    
    
    translation
    
    
    August
    
    
    Additions/
    
    
    translation
    
    
    August2003
    
    
    Adjustments
    
    
    adjustments
    
    
    31, 2004
    
    
    Adjustments
    
    
    adjustments
    
    
    31, 2005Communications & High Tech
    
    $
    60,265
    
    
    $
    3,865
    
    
    $
    6,819
    
    
    $
    70,949
    
    
    $
    3,889
    
    
    $
    (1,752
    )
    
    $
    73,086Financial Services
    
    
    40,509
    
    
    
    312
    
    
    
    2,847
    
    
    
    43,668
    
    
    
    8,800
    
    
    
    (899
    )
    
    
    51,569Government
    
    
    21,519
    
    
    
    232
    
    
    
    1,491
    
    
    
    23,242
    
    
    
    2,083
    
    
    
    (392
    )
    
    
    24,933Products
    
    
    38,724
    
    
    
    4,369
    
    
    
    3,309
    
    
    
    46,402
    
    
    
    151,276
    
    
    
    (741
    )
    
    
    196,937Resources
    
    
    27,642
    
    
    
    273
    
    
    
    2,306
    
    
    
    30,221
    
    
    
    2,336
    
    
    
    (594
    )
    
    
    31,963Total
    
    $
    188,659
    
    
    $
    9,051
    
    
    $
    16,772
    
    
    $
    214,482
    
    
    $
    168,384
    
    
    $
    (4,378
    )
    
    $
    378,488
 F-17




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share  amounts or as otherwise disclosed)
 6. INVESTMENTS AND FINANCIAL INSTRUMENTS
  Amortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    Estimated FairCost
    
    
    Gains
    
    
    Losses
    
    
    ValueAugust 31, 2005Available-for-sale debt securitiesU.S. Treasury securities
    
    $
    99,204
    
    
    $
    
    
    
    $
    (906
    )
    
    $
    98,298Asset-backed securities
    
    
    28,568
    
    
    
    20
    
    
    
    (616
    )
    
    
    27,972Corporate debt securities
    
    
    537,660
    
    
    
    313
    
    
    
    (1,153
    )
    
    
    536,820Foreign government securities
    
    
    3,356
    
    
    
    52
    
    
    
    (10
    )
    
    
    3,398Certificates of deposit and time deposits
    
    
    46,000
    
    
    
    1
    
    
    
    
    
    
    
    46,001Total available-for-sale debt securities
    
    
    714,788
    
    
    
    386
    
    
    
    (2,685
    )
    
    
    712,489Available-for-sale equity securities
    
    
    11,482
    
    
    
    161
    
    
    
    (81
    )
    
    
    11,562Total available-for-sale securities
    
    
    726,270
    
    
    
    547
    
    
    
    (2,766
    )
    
    
    724,051Other
    
    
    2,282
    
    
    
    
    
    
    
    
    
    
    
    2,282Total investments at August 31, 2005
    
    $
    728,552
    
    
    $
    547
    
    
    $
    (2,766
    )
    
    $
    726,333August 31, 2004Available-for-sale debt securitiesU.S. Treasury securities
    
    $
    103,950
    
    
    $
    1,036
    
    
    $
    (163
    )
    
    $
    104,823Asset-backed securities
    
    
    149,272
    
    
    
    104
    
    
    
    (379
    )
    
    
    148,997Corporate debt securities
    
    
    355,593
    
    
    
    500
    
    
    
    (380
    )
    
    
    355,713Foreign government securities
    
    
    3,098
    
    
    
    25
    
    
    
    (8
    )
    
    
    3,115Total available-for-sale debt securities
    
    
    611,913
    
    
    
    1,665
    
    
    
    (930
    )
    
    
    612,648Available-for-sale equity securities
    
    
    11,944
    
    
    
    49
    
    
    
    (249
    )
    
    
    11,744Total available-for-sale securities
    
    
    623,857
    
    
    
    1,714
    
    
    
    (1,179
    )
    
    
    624,392Other
    
    
    1,028
    
    
    
    
    
    
    
    (11
    )
    
    
    1,017Total investments at August 31, 2004
    
    $
    624,885
    
    
    $
    1,714
    
    
    $
    (1,190
    )
    
    $
    625,409
  August 31, 2005Amortized
    
    
    EstimatedCost
    
    
    Fair ValueDue in 1 year or less
    
    $
    463,794
    
    
    $
    463,460Due in 1-2 years
    
    
    126,401
    
    
    
    125,980Due in 2-3 years
    
    
    42,104
    
    
    
    41,580Due in 3-4 years
    
    
    55,811
    
    
    
    55,189Due in 4-5 years
    
    
    8,529
    
    
    
    8,424Due after 5 years
    
    
    18,149
    
    
    
    17,856Total available-for-sale debt securities
    
    $
    714,788
    
    
    $
    712,489
  Equity Method Investments
  F-18




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Foreign Exchange Instruments
  August 31,2005
    
    
    2004Notional
    
    
    Fair
    
    
    Notional
    
    
    FairValue
    
    
    Value
    
    
    Value
    
    
    ValueForeign currency forward exchange contracts:To sell
    
    $
    287,794
    
    
    $
    (527
    )
    
    $
    137,230
    
    
    $
    1,381To buy
    
    
    372,204
    
    
    
    (172
    )
    
    
    313,887
    
    
    
    904
 7. BORROWINGS AND INDEBTEDNESS
  Facility AmountSyndicated loan facility(1)
    
    $
    1,500,000Separate bilateral, uncommitted, unsecured
multicurrency revolving credit facilities(2)
    
    
    251,122Local guaranteed and non-guaranteed lines of credit(2)
    
    
    202,251Total
    
    $
    1,953,373
 
 (1)
    
    Accenture has a $1,500,000 syndicated loan facility maturing June 18, 2009 that provides
unsecured, revolving borrowing capacity for general working capital purposes, including the
issuance of letters of credit on behalf of Accenture affiliates. Financing is provided under
this facility at the prime rate or at the London Interbank Offered Rate plus a spread. This
facility requires the Company to: (1) limit liens placed on 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 the Companys consolidated assets; and (2) maintain
a debt-to-cash-flow ratio not exceeding 1.75 to 1.00. The Company continues to be in
compliance with these terms. As of August 31, 2005, the Company had no borrowings under the
facility and $53,974 in letters of credit outstanding. The facility is subject to annual
commitment fees.(2)
    
    Accenture maintains four separate bilateral, uncommitted, unsecured multicurrency
revolving credit facilities. These facilities provide local currency financing in countries
where the Companys syndicated facilities cannot readily be accessed. At August 31, 2005 and
2004, there was $4,401 and $12,799, respectively, outstanding under these various facilities.
The Company also maintains local guaranteed and non-guaranteed lines of credit. Interest rate
terms on the bilateral revolving facilities and local lines of credit are at market rates
prevailing in the relevant local markets. The weighted average interest rate on borrowings
under these multicurrency credit facilities and lines of credit, based on the average annual
balances, was approximately 7% in fiscal years 2005, 2004 and 2003.  F-19




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 8. INCOME TAXES
  Year Ended August 31,2005
    
    
    2004
    
    
    2003Current taxes:U.S. Federal
    
    $
    138,457
    
    
    $
    135,510
    
    
    $
    142,941U.S. state and local
    
    
    19,779
    
    
    
    19,359
    
    
    
    20,420Non-U.S
    
    
    478,049
    
    
    
    318,800
    
    
    
    322,971Total current tax expense
    
    
    636,285
    
    
    
    473,669
    
    
    
    486,332Deferred taxes:U.S. Federal
    
    
    55,344
    
    
    
    52,399
    
    
    
    48,523U.S. state and local
    
    
    7,906
    
    
    
    7,486
    
    
    
    6,932Non-U.S
    
    
    (2,438
    )
    
    
    41,989
    
    
    
    24,312Total deferred tax expense
    
    
    60,812
    
    
    
    101,874
    
    
    
    79,767Total
    
    $
    697,097
    
    
    $
    575,543
    
    
    $
    566,099
   Year Ended August 31,2005
    
    
    2004
    
    
    2003U.S sources
    
    $
    682,030
    
    
    $
    503,257
    
    
    $
    566,896Non-U.S. sources
    
    
    1,523,972
    
    
    
    1,295,313
    
    
    
    1,045,921Total
    
    $
    2,206,002
    
    
    $
    1,798,570
    
    
    $
    1,612,817
  Year Ended August 31,2005
    
    2004
    
    2003U.S. Federal statutory income tax rate
    
    
    35.0
    %
    
    
    35.0
    %
    
    
    35.0
    %U.S. state and local taxes, net
    
    
    1.6
    
    
    
    1.4
    
    
    
    1.6Reorganization benefits
    
    
    (1.4
    )
    
    
    (1.5
    )
    
    
    (0.4
    )Other final determinations(1)
    
    
    (6.4
    )
    
    
    (2.2
    )
    
    
    (3.3
    )Non-U.S. operations
    
    
    (0.4
    )
    
    
    (1.4
    )
    
    
    1.7Other
    
    
    3.2
    
    
    
    0.7
    
    
    
    0.5Effective income tax rate
    
    
    31.6
    %
    
    
    32.0
    %
    
    
    35.1
    %
 
 (1)
    
    Final determinations include final agreements with tax authorities and expirations of
statutes of limitations. F-20




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
  August 31,2005
    
    
    2004Deferred tax assets:Pensions
    
    $
    161,197
    
    
    $
    125,567Revenue recognition
    
    
    55,235
    
    
    
    46,387Compensation and benefits
    
    
    147,838
    
    
    
    127,318Investments
    
    
    1,516
    
    
    
    40,937Tax credit carryforwards
    
    
    11,449
    
    
    
    20,160Net operating loss carryforwards
    
    
    220,373
    
    
    
    151,663Depreciation and amortization
    
    
    119,322
    
    
    
    139,386Restructuring costs
    
    
    13,255
    
    
    
    37,005Other
    
    
    59,460
    
    
    
    34,358789,645
    
    
    
    722,781Valuation allowance
    
    
    (270,630
    )
    
    
    (240,661
    )Total deferred tax assets
    
    
    519,015
    
    
    
    482,120Deferred tax liabilities:Revenue recognition
    
    
    (46,740
    )
    
    
    (58,263
    )Depreciation and amortization
    
    
    (58,479
    )
    
    
    (23,934
    )Restructuring costs
    
    
    (6
    )
    
    
    (21,859
    )Other
    
    
    (49,601
    )
    
    
    (24,896
    )Total deferred tax liabilities
    
    
    (154,826
    )
    
    
    (128,952
    )Net deferred tax assets
    
    $
    364,189
    
    
    $
    353,168
       F-21




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
    9. RETIREMENT AND PROFIT SHARING PLANS
 Pension and Postretirement Benefits
 Employers Accounting for Pensions Employers Accounting for Postretirement Benefits Other Than Pensions
    Pension BenefitsYear Ended August 31,2005
    
    
    2004
    
    
    2003U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.Components of pension expense
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    PlansService cost
    
    $
    49,518
    
    
    $
    45,054
    
    
    $
    45,247
    
    
    $
    34,802
    
    
    $
    29,215
    
    
    $
    24,503Interest cost
    
    
    42,760
    
    
    
    18,037
    
    
    
    36,262
    
    
    
    12,799
    
    
    
    30,878
    
    
    
    10,843Expected return on plan assets
    
    
    (42,892
    )
    
    
    (15,305
    )
    
    
    (24,735
    )
    
    
    (9,932
    )
    
    
    (25,886
    )
    
    
    (6,011
    )Amortization of transitional obligation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (213
    )
    
    
    (6
    )
    
    
    (181
    )Amortization of loss/(gain)
    
    
    13,675
    
    
    
    (1,023
    )
    
    
    20,673
    
    
    
    782
    
    
    
    4,847
    
    
    
    1,730Amortization of prior service cost
    
    
    1,291
    
    
    
    1,579
    
    
    
    2,472
    
    
    
    90
    
    
    
    2,267
    
    
    
    81Curtailment loss recognized
    
    
    
    
    
    
    243
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Special termination benefits charge
    
    
    
    
    
    
    1,299
    
    
    
    
    
    
    
    3,643
    
    
    
    
    
    
    
    Total
    
    $
    64,352
    
    
    $
    49,884
    
    
    $
    79,919
    
    
    $
    41,971
    
    
    $
    41,315
    
    
    $
    30,965
 F-22




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Postretirement BenefitsYear Ended August 31,2005
    
    
    2004
    
    
    2003U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.Components of postretirement expense
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    PlansService cost
    
    $
    7,091
    
    
    $
    1,646
    
    
    $
    7,263
    
    
    $
    1,677
    
    
    $
    7,338
    
    
    $
    817Interest cost
    
    
    5,534
    
    
    
    1,776
    
    
    
    5,167
    
    
    
    1,561
    
    
    
    5,683
    
    
    
    799Expected return on plan assets
    
    
    (1,335
    )
    
    
    
    
    
    
    (1,424
    )
    
    
    
    
    
    
    (1,406
    )
    
    
    Amortization of transitional obligation
    
    
    79
    
    
    
    
    
    
    
    79
    
    
    
    204
    
    
    
    79
    
    
    
    183Amortization of loss
    
    
    1,493
    
    
    
    94
    
    
    
    2,401
    
    
    
    74
    
    
    
    2,210
    
    
    
    36Amortization of prior service cost
    
    
    (801
    )
    
    
    (161
    )
    
    
    (801
    )
    
    
    
    
    
    
    (251
    )
    
    
    Curtailment loss recognized
    
    
    
    
    
    
    (222
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    $
    12,061
    
    
    $
    3,133
    
    
    $
    12,685
    
    
    $
    3,516
    
    
    $
    13,653
    
    
    $
    1,835
  Pension Benefits
    
    
    Postretirement BenefitsYear Ended August 31,
    
    
    Year Ended August 31,2005
    
    
    2004
    
    
    2003
    
    
    2005
    
    
    2004
    
    
    2003Non-
    
    
    
    
    
    
    Non-
    
    
    
    
    
    
    Non-
    
    
    
    
    
    
    Non-
    
    
    
    
    
    
    Non-
    
    
    
    
    
    
    Non-U.S
    
    
    U.S.
    
    
    U.S
    
    
    U.S.
    
    
    U.S
    
    
    U.S.
    
    
    U.S
    
    
    U.S.
    
    
    U.S
    
    
    U.S.
    
    
    U.S
    
    
    U.S.Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    PlansDiscount rate
    
    
    6.25
    %
    
    
    4.93
    %
    
    
    6.00
    %
    
    
    4.85
    %
    
    
    7.25
    %
    
    
    4.92
    %
    
    
    6.25
    %
    
    
    6.75
    %
    
    
    6.00
    %
    
    
    6.50
    %
    
    
    7.25
    %
    
    
    6.50
    %Expected rate of return on plan assets
    
    
    7.50
    %
    
    
    5.19
    %
    
    
    8.00
    %
    
    
    5.66
    %
    
    
    8.50
    %
    
    
    5.35
    %
    
    
    7.50%/3.50
    %
    
    
    N/A
    
    
    
    8.00%/5.00
    %
    
    
    N/A
    
    
    
    8.00%/5.00
    %
    
    
    N/ARate of increase in future compensation
    
    
    4.50
    %
    
    
    3.16
    %
    
    
    4.50
    %
    
    
    3.10
    %
    
    
    5.70
    %
    
    
    3.81
    %
    
    
    N/A
    
    
    
    4.50
    %
    
    
    N/A
    
    
    
    4.00
    %
    
    
    N/A
    
    
    
    4.00
    %
  Pension Benefits
    
    
    Postretirement BenefitsYear Ended August 31,
    
    
    Year Ended August 31,2005
    
    
    2004
    
    
    2005
    
    
    2004U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.
    
    
    U.S.
    
    
    Non-U.S.Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    Plans
    
    
    PlansDiscount rate
    
    
    5.25
    %
    
    
    4.28
    %
    
    
    6.25
    %
    
    
    4.93
    %
    
    
    5.25
    %
    
    
    5.50
    %
    
    
    6.25
    %
    
    
    6.75
    %Expected rate of return on plan assets
    
    
    7.50
    %
    
    
    5.57
    %
    
    
    7.50
    %
    
    
    5.19
    %
    
    
    7.50%/3.50
    %
    
    
    N/A
    
    
    
    7.50%/3.50
    %
    
    
    N/ARate of increase in future compensation
    
    
    4.50
    %
    
    
    3.27
    %
    
    
    4.50
    %
    
    
    3.16
    %
    
    
    N/A
    
    
    
    3.50
    %
    
    
    N/A
    
    
    
    4.50
    %
  F-23




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
  Pension Benefits
    
    
    Postretirement BenefitsYear Ended August 31,
    
    
    Year Ended August 31,2005
    
    
    2004
    
    
    2005
    
    
    2004Non-U.S.
    
    
    
    
    
    
    Non-U.S.
    
    
    
    
    
    
    Non-U.S.
    
    
    
    
    
    
    Non-U.S.U.S. Plans
    
    
    Plans
    
    
    U.S. Plans
    
    
    Plans
    
    
    U.S. Plans
    
    
    Plans
    
    
    U.S. Plans
    
    
    PlansChanges in benefit obligationBenefit obligation, beginning of year
    
    $
    692,028
    
    
    $
    335,819
    
    
    $
    609,167
    
    
    $
    233,446
    
    
    $
    89,476
    
    
    $
    25,054
    
    
    $
    86,868
    
    
    $
    24,539Adjustment cost
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    13,002
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Service cost
    
    
    49,518
    
    
    
    45,054
    
    
    
    45,247
    
    
    
    34,802
    
    
    
    7,091
    
    
    
    1,646
    
    
    
    7,263
    
    
    
    1,677Interest cost
    
    
    42,760
    
    
    
    18,037
    
    
    
    36,262
    
    
    
    12,799
    
    
    
    5,534
    
    
    
    1,776
    
    
    
    5,167
    
    
    
    1,561Amendments
    
    
    
    
    
    
    1,365
    
    
    
    
    
    
    
    4,322
    
    
    
    
    
    
    
    (3,858
    )
    
    
    
    
    
    
    Termination benefits
    
    
    
    
    
    
    1,299
    
    
    
    
    
    
    
    3,643
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Participant contributions
    
    
    
    
    
    
    6,366
    
    
    
    
    
    
    
    3,767
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Acquisitions/divestitures/transfers
    
    
    
    
    
    
    75,024
    
    
    
    
    
    
    
    38,863
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,878
    )Curtailments
    
    
    
    
    
    
    (540
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (263
    )
    
    
    
    
    
    
    Actuarial loss/(gain)
    
    
    189,769
    
    
    
    73,364
    
    
    
    11,646
    
    
    
    (13,262
    )
    
    
    19,555
    
    
    
    4,160
    
    
    
    (7,733
    )
    
    
    (774
    )Benefits paid
    
    
    (16,528
    )
    
    
    (39,369
    )
    
    
    (10,294
    )
    
    
    (15,691
    )
    
    
    (3,320
    )
    
    
    (130
    )
    
    
    (2,089
    )
    
    
    (49
    )Exchange rate loss
    
    
    
    
    
    
    2,212
    
    
    
    
    
    
    
    20,128
    
    
    
    
    
    
    
    3,026
    
    
    
    
    
    
    
    978Settlements
    
    
    
    
    
    
    (7,046
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Benefit obligation, end of year
    
    $
    957,547
    
    
    $
    511,585
    
    
    $
    692,028
    
    
    $
    335,819
    
    
    $
    118,336
    
    
    $
    31,411
    
    
    $
    89,476
    
    
    $
    25,054Changes in plan assetsFair value of plan assets, beginning of year
    
    $
    470,792
    
    
    $
    243,424
    
    
    $
    311,360
    
    
    $
    146,261
    
    
    $
    24,585
    
    
    $
    
    
    
    $
    23,102
    
    
    $
    Adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    15,524
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Actual return on plan assets
    
    
    63,227
    
    
    
    24,998
    
    
    
    59,776
    
    
    
    13,547
    
    
    
    1,647
    
    
    
    
    
    
    
    2,441
    
    
    
    Acquisitions/divestitures/transfers
    
    
    
    
    
    
    70,004
    
    
    
    
    
    
    
    37,170
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Employer contributions
    
    
    183,852
    
    
    
    40,780
    
    
    
    109,950
    
    
    
    28,852
    
    
    
    180
    
    
    
    130
    
    
    
    1,131
    
    
    
    49Participant contributions
    
    
    
    
    
    
    6,366
    
    
    
    
    
    
    
    3,767
    
    
    
    2,551
    
    
    
    
    
    
    
    
    
    
    
    Benefits paid
    
    
    (16,528
    )
    
    
    (39,369
    )
    
    
    (10,294
    )
    
    
    (15,691
    )
    
    
    (3,320
    )
    
    
    (130
    )
    
    
    (2,089
    )
    
    
    (49
    )Exchange rate gain
    
    
    
    
    
    
    4,931
    
    
    
    
    
    
    
    13,994
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Settlements
    
    
    
    
    
    
    (7,046
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Fair value of plan assets, end of year
    
    $
    701,343
    
    
    $
    344,088
    
    
    $
    470,792
    
    
    $
    243,424
    
    
    $
    25,643
    
    
    $
    
    
    
    $
    24,585
    
    
    $
    Reconciliation of funded statusFunded status
    
    $
    (256,204
    )
    
    $
    (167,497
    )
    
    $
    (221,236
    )
    
    $
    (92,395
    )
    
    $
    (92,693
    )
    
    $
    (31,411
    )
    
    $
    (64,891
    )
    
    $
    (25,054
    )Unrecognized transitional obligation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    598
    
    
    
    
    
    
    
    677
    
    
    
    Unrecognized loss
    
    
    337,615
    
    
    
    71,192
    
    
    
    181,856
    
    
    
    8,589
    
    
    
    43,141
    
    
    
    7,187
    
    
    
    27,830
    
    
    
    2,696Unrecognized prior service cost
    
    
    3,888
    
    
    
    5,215
    
    
    
    5,179
    
    
    
    5,250
    
    
    
    (8,107
    )
    
    
    (3,838
    )
    
    
    (8,908
    )
    
    
    Contributions made after measurement date
    
    
    
    
    
    
    1,499
    
    
    
    125,000
    
    
    
    714
    
    
    
    (112
    )
    
    
    24
    
    
    
    169
    
    
    
    10Net amount recognized at year-end
    
    $
    85,299
    
    
    $
    (89,591
    )
    
    $
    90,799
    
    
    $
    (77,842
    )
    
    $
    (57,173
    )
    
    $
    (28,038
    )
    
    $
    (45,123
    )
    
    $
    (22,348
    )Amounts recognized in the Consolidated Balance
Sheets consist of:Prepaid benefit cost
    
    $
    10,274
    
    
    $
    10,441
    
    
    $
    
    
    
    $
    18,459
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Accrued benefit liability
    
    
    (205,404
    )
    
    
    (136,737
    )
    
    
    (186,428
    )
    
    
    (102,885
    )
    
    
    (57,173
    )
    
    
    (28,062
    )
    
    
    (45,292
    )
    
    
    (22,358
    )Intangible asset
    
    
    3,339
    
    
    
    10
    
    
    
    5,179
    
    
    
    32
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Accumulated other comprehensive loss
    
    
    277,090
    
    
    
    35,196
    
    
    
    147,048
    
    
    
    5,838
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Contributions made after measurement date
    
    
    
    
    
    
    1,499
    
    
    
    125,000
    
    
    
    714
    
    
    
    
    
    
    
    24
    
    
    
    169
    
    
    
    10Net amount recognized at year-end
    
    $
    85,299
    
    
    $
    (89,591
    )
    
    $
    90,799
    
    
    $
    (77,842
    )
    
    $
    (57,173
    )
    
    $
    (28,038
    )
    
    $
    (45,123
    )
    
    $
    (22,348
    )
 F-24




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Funded Status for Defined Benefit Plans
   Employers Accounting for Pensions
   2005
    
    
    2004Non-U.S.
    
    
    
    
    
    
    Non-U.S.U.S. Plans
    
    
    Plans
    
    
    U.S. Plans
    
    
    PlansProjected benefit obligation in excess of plan assets:Projected benefit obligation
    
    $
    911,808
    
    
    $
    434,117
    
    
    $
    692,028
    
    
    $
    261,271Fair value of plan assets
    
    
    654,948
    
    
    
    256,790
    
    
    
    470,792
    
    
    
    151,839Accumulated benefit obligation in excess of plan assets:Accumulated benefit obligation
    
    $
    860,352
    
    
    $
    321,681
    
    
    $
    657,221
    
    
    $
    118,364Fair value of plan assets
    
    
    654,948
    
    
    
    200,533
    
    
    
    470,792
    
    
    
    44,244
 Investment Strategies
 U.S. Pension Plans
   F-25




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Non-U.S. Pension Plans
  Plan Assets
  Pension Plans
 Plan Assets at August 31,2006 Target Allocation
    
    2005
    
    2004Non-U.S.
    
    
    
    
    
    Non-U.S.
    
    
    
    
    
    Non-U.S.Asset Category
    
    U.S. Plans
    
    Plans
    
    U.S. Plans
    
    Plans
    
    U.S. Plans
    
    PlansEquity securities
    
    
    80
    %
    
    
    35-45
    %
    
    
    76
    %
    
    
    30
    %
    
    
    81
    %
    
    
    21
    %Debt securities
    
    
    20
    %
    
    
    35-45
    %
    
    
    20
    %
    
    
    32
    %
    
    
    18
    %
    
    
    23
    %Cash and short-term investments
    
    
    
    
    
    
    0-5
    %
    
    
    
    
    
    
    19
    %
    
    
    1
    %
    
    
    24
    %Insurance contracts
    
    
    
    
    
    
    10-15
    %
    
    
    
    
    
    
    13
    %
    
    
    
    
    
    
    32
    %Other
    
    
    
    
    
    
    0-5
    %
    
    
    4
    %
    
    
    6
    %
    
    
    
    
    
    
    Total
    
    
    100
    %
    
    
    n/m
    
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
 
 n/m not meaningful U.S. Postretirement Plan(1)
 2006 Target
    
    Plan Assets at August 31,Asset Category
    
    Allocation
    
    2005
    
    2004Equity securities
    
    
    35
    %
    
    
    35
    %
    
    
    36
    %Debt securities
    
    
    19
    %
    
    
    19
    %
    
    
    14
    %Cash and short-term investments
    
    
    46
    %
    
    
    46
    %
    
    
    50
    %Total
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
 
 (1)
    
    The non-U.S. plans are unfunded and thus the table only relates to the U.S. Plans. Expected Contributions
  F-26




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Estimated Future Benefit Payments
  Pension Benefits
    
    
    Postretirement BenefitsU.S Plans
    
    
    Non-U.S. Plans
    
    
    U.S Plans
    
    
    Non-U.S. Plans2006
    
    $
    13,440
    
    
    $
    12,189
    
    
    $
    2,389
    
    
    $
    1952007
    
    
    15,594
    
    
    
    12,918
    
    
    
    2,758
    
    
    
    2512008
    
    
    17,675
    
    
    
    13,512
    
    
    
    3,260
    
    
    
    3222009
    
    
    19,906
    
    
    
    14,577
    
    
    
    3,785
    
    
    
    3972010
    
    
    22,224
    
    
    
    15,694
    
    
    
    4,287
    
    
    
    4772011-2015
    
    
    158,969
    
    
    
    105,983
    
    
    
    28,651
    
    
    
    4,096
 Assumed Health Care Cost Trend
  One Percentage Point Increase
    
    
    One Percentage Point Decrease2005
    
    
    2004
    
    
    2005
    
    
    2004Effect on total of service and interest cost components
    
    $
    2,527
    
    
    $
    2,664
    
    
    $
    (2,056
    )
    
    $
    (2,089
    )Effect on year-end postretirement benefit obligation
    
    
    22,362
    
    
    
    17,868
    
    
    
    (17,375
    )
    
    
    (14,250
    )
 Basic Retirement Benefits
  Early Retirement Benefits
  Defined Contribution Plans
   F-27




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
  10. EMPLOYEE SHARE PLANS
 Employee Share Purchase Plan
  Offering Period Ended
    
    2005
    
    
    2004
    
    
    2003September 30
    
    
    
    
    
    
    
    
    
    $
    7.78November 1
    
    $
    6.54
    
    
    $
    4.80
    
    
    
    May 1
    
    $
    6.54
    
    
    $
    6.49
    
    
    $
    4.36
 Share Incentive Plan
  Stock Options
   Year Ended August 31,2005
    
    
    2004
    
    
    2003Weighted
    
    
    
    
    
    
    Weighted
    
    
    
    
    
    
    WeightedAverage
    
    
    
    
    
    
    Average
    
    
    
    
    
    
    AverageExercise
    
    
    
    
    
    
    Exercise
    
    
    
    
    
    
    ExerciseNumber
    
    
    Price
    
    
    Number
    
    
    Price
    
    
    Number
    
    
    PriceOptions outstanding, beginning of year
    
    
    63,938,783
    
    
    $
    15.40
    
    
    
    75,599,090
    
    
    $
    14.80
    
    
    
    86,131,490
    
    
    $
    14.73Granted
    
    
    21,283,007
    
    
    
    25.38
    
    
    
    5,965,602
    
    
    
    22.40
    
    
    
    6,251,959
    
    
    
    15.24Exercised
    
    
    8,591,735
    
    
    
    14.77
    
    
    
    11,717,958
    
    
    
    14.61
    
    
    
    5,816,252
    
    
    
    14.55Forfeited
    
    
    2,781,155
    
    
    
    17.68
    
    
    
    5,907,951
    
    
    
    16.33
    
    
    
    10,968,107
    
    
    
    14.68Options outstanding, end of year
    
    
    73,848,900
    
    
    $
    18.27
    
    
    
    63,938,783
    
    
    $
    15.40
    
    
    
    75,599,090
    
    
    $
    14.80Exercisable at year end
    
    
    49,098,967
    
    
    $
    15.99
    
    
    
    36,387,546
    
    
    $
    14.66
    
    
    
    32,140,118
    
    
    $
    14.66Weighted average fair value of
options granted during the year
    
    
    
    
    
    $
    11.30
    
    
    
    
    
    
    $
    11.21
    
    
    
    
    
    
    $
    7.27
 F-28




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
   Options Outstanding
    
    
    Options ExercisableWeightedOptions
    
    
    Avg. Contractual
    
    
    Weighted Average
    
    
    Options
    
    
    Weighted AverageRange of Exercise Prices
    
    Outstanding
    
    
    Life Remaining
    
    
    Exercise Price
    
    
    Exercisable
    
    
    Exercise Price$12.82 - $15.31
    
    
    44,270,068
    
    
    
    5.9
    
    
    $
    14.55
    
    
    
    40,677,027
    
    
    $
    14.55$15.32 - $18.32
    
    
    2,240,992
    
    
    
    7.6
    
    
    
    16.24
    
    
    
    725,787
    
    
    
    16.09$18.33 - $27.50
    
    
    27,337,840
    
    
    
    9.0
    
    
    
    24.47
    
    
    
    7,696,153
    
    
    
    23.6473,848,900
    
    
    
    7.1
    
    
    $
    18.27
    
    
    
    49,098,967
    
    
    $
    15.99
 Restricted Share Units
  August 31,2005
    
    
    2004
    
    
    2003Shares granted
    
    
    7,335,407
    
    
    
    4,715,894
    
    
    
    6,908,328Weighted average fair value of shares
    
    $
    25.78
    
    
    $
    22.62
    
    
    $
    16.13Pre-tax compensation expense charged to earnings, net of cancellations
    
    $
    88,341
    
    
    $
    60,486
    
    
    $
    51,615
 11. SHAREHOLDERS EQUITY
 Class I Common Shares
   Class II and Class III Common Shares
  F-29




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
    Restrictions on the Transfer of Certain Accenture Shares
   12. MATERIAL TRANSACTIONS AFFECTING SHAREHOLDERS EQUITY
 Secondary Offerings
  F-30




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
   Share Purchase Activity
   Share Management PlanOpen Market
    
    
    And RSU Sell-Back ProgramShares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    TotalAvailable Authorization at August 31, 2002
    
    
    
    
    
    $
    78,890
    
    
    
    
    
    
    $
    600,000
    
    
    $
    678,890Purchases
    
    
    8,619,800
    
    
    
    (151,763
    )
    
    
    17,779,985
    
    
    
    (311,258
    )
    
    
    (463,021
    )Additional Authorizations
    
    
    
    
    
    
    155,000
    
    
    
    
    
    
    
    
    
    
    
    155,000Available Authorization at August 31, 2003
    
    
    
    
    
    
    82,127
    
    
    
    
    
    
    
    288,742
    
    
    
    370,869Purchases
    
    
    8,413,050
    
    
    
    (201,326
    )
    
    
    29,619,979
    
    
    
    (664,338
    )
    
    
    (865,664
    )Additional Authorizations
    
    
    
    
    
    
    180,777
    
    
    
    
    
    
    
    600,000
    
    
    
    780,777Available Authorization at August 31, 2004
    
    
    
    
    
    
    61,578
    
    
    
    
    
    
    
    224,404
    
    
    
    285,982Purchases
    
    
    20,566,470
    
    
    
    (480,470
    )
    
    
    45,147,483
    
    
    
    (1,103,291
    )
    
    
    (1,583,761
    )Additional Authorizations
    
    
    
    
    
    
    1,000,000
    
    
    
    
    
    
    
    2,000,000
    
    
    
    3,000,000Available Authorization at August 31, 2005
    
    
    
    
    
    $
    581,108
    
    
    
    
    
    
    $
    1,121,113
    
    
    $
    1,702,221
 Open Market Share Purchases (formerly Accenture Share Employee Compensation Trust)
  Share Management Plan and RSU Sell-Back Program Transactions
   F-31




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
    Other Share Purchases
  2005
    
    
    2004
    
    
    2003Shares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Shares
    
    
    AmountPurchases of
Accenture Ltd Class
A common shares,
net share delivery
    
    
    1,093,481
    
    
    $
    26,078
    
    
    
    5,523,763
    
    
    $
    138,817
    
    
    
    5,951,800
    
    
    $
    98,810Purchases and
redemptions of
Accenture SCA Class
I common shares
under Articles of
Association of
Accenture SCA
    
    
    69,279
    
    
    
    1,750
    
    
    
    2,421,801
    
    
    
    58,112
    
    
    
    207,008
    
    
    
    125Total
    
    
    1,162,760
    
    
    $
    27,828
    
    
    
    7,945,564
    
    
    $
    196,929
    
    
    
    6,158,808
    
    
    $
    98,935
 13. LEASE COMMITMENTS
  Operating
    
    
    OperatingLease
    
    
    SubleasePayments
    
    
    Income2006
    
    $
    333,652
    
    
    $
    (13,503
    )2007
    
    
    284,975
    
    
    
    (12,723
    )2008
    
    
    241,296
    
    
    
    (9,367
    )2009
    
    
    210,415
    
    
    
    (7,922
    )2010
    
    
    208,522
    
    
    
    (7,338
    )Thereafter
    
    
    1,261,803
    
    
    
    (24,577
    )$
    2,540,663
    
    
    $
    (75,430
    )
 F-32




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 14. COMMITMENTS AND CONTINGENCIES
 Guarantees
     Legal Contingencies
  15. SEGMENT REPORTING
 Disclosures about Segments of an Enterprise
and Related Information
  F-33




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 Reportable Segments
  Comm. &
    
    
    FinancialYear Ended August 31:
    
    High Tech
    
    
    Services
    
    
    Government
    
    
    Products
    
    
    Resources
    
    
    Other
    
    
    Total2005Revenues
before reimbursements
    
    $
    4,001,347
    
    
    $
    3,408,166
    
    
    $
    2,171,458
    
    
    $
    3,569,975
    
    
    $
    2,388,845
    
    
    $
    7,238
    
    
    $
    15,547,029Depreciation(1)
    
    
    66,055
    
    
    
    61,121
    
    
    
    56,508
    
    
    
    56,725
    
    
    
    41,664
    
    
    
    
    
    
    
    282,073Operating income
    
    
    673,183
    
    
    
    499,647
    
    
    
    168,736
    
    
    
    413,188
    
    
    
    356,484
    
    
    
    
    
    
    
    2,111,238Assets at August 31(2)
    
    
    571,292
    
    
    
    81,849
    
    
    
    738,575
    
    
    
    435,515
    
    
    
    315,722
    
    
    
    151,787
    
    
    
    2,294,7402004Revenues
before reimbursements
    
    $
    3,741,451
    
    
    $
    2,770,990
    
    
    $
    1,994,655
    
    
    $
    2,978,892
    
    
    $
    2,178,569
    
    
    $
    9,006
    
    
    $
    13,673,563Depreciation(1)
    
    
    81,739
    
    
    
    66,813
    
    
    
    35,463
    
    
    
    56,112
    
    
    
    39,869
    
    
    
    
    
    
    
    279,996Operating income
    
    
    403,698
    
    
    
    353,904
    
    
    
    311,050
    
    
    
    414,501
    
    
    
    275,473
    
    
    
    
    
    
    
    1,758,626Assets at August 31(2)
    
    
    542,746
    
    
    
    114,207
    
    
    
    581,301
    
    
    
    354,003
    
    
    
    217,217
    
    
    
    133,851
    
    
    
    1,943,3252003Revenues
before reimbursements
    
    $
    3,290,372
    
    
    $
    2,355,321
    
    
    $
    1,581,758
    
    
    $
    2,613,303
    
    
    $
    1,966,043
    
    
    $
    11,202
    
    
    $
    11,817,999Depreciation(1)
    
    
    88,479
    
    
    
    62,599
    
    
    
    31,186
    
    
    
    60,127
    
    
    
    51,422
    
    
    
    
    
    
    
    293,813Operating income
    
    
    321,168
    
    
    
    306,094
    
    
    
    282,308
    
    
    
    428,217
    
    
    
    213,448
    
    
    
    
    
    
    
    1,551,235Assets at August 31(2)
    
    
    365,101
    
    
    
    213,441
    
    
    
    354,444
    
    
    
    362,443
    
    
    
    295,114
    
    
    
    109,806
    
    
    
    1,700,349
 
 (1)
    
    This amount includes depreciation on property and equipment controlled by each operating
segment, as well as an allocation for depreciation on property and equipment they do not
directly control.(2)
    
    Operating segment assets directly attributed to an operating segment and provided to the
chief operating decision maker include Receivables from clients, current and non-current
Unbilled services and Deferred revenues.   Year Ended August 31,Increase (Decrease) to Operating Income
    
    2005
    
    
    2004
    
    
    2003Communications & High Tech
    
    $
    21,274
    
    
    $
    (7,230
    )
    
    $
    4,778Financial Services
    
    
    20,643
    
    
    
    (6,403
    )
    
    
    4,319Government
    
    
    13,335
    
    
    
    (4,247
    )
    
    
    2,526Products
    
    
    21,019
    
    
    
    (6,356
    )
    
    
    4,278Resources
    
    
    12,986
    
    
    
    (4,655
    )
    
    
    3,445Total
    
    $
    89,257
    
    
    $
    (28,891
    )
    
    $
    19,346
 F-34




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share and per share amounts or as otherwise disclosed)
  Year Ended August 31:
    
    Americas
    
    
    EMEA(1)
    
    
    Asia Pacific
    
    
    Total2005Revenues before reimbursements
    
    $
    6,729,626
    
    
    $
    7,734,932
    
    
    $
    1,082,471
    
    
    $
    15,547,029Reimbursements
    
    
    732,493
    
    
    
    708,305
    
    
    
    106,593
    
    
    
    1,547,391Revenues
    
    
    7,462,119
    
    
    
    8,443,237
    
    
    
    1,189,064
    
    
    
    17,094,420Long-lived assets at August 31
    
    
    267,757
    
    
    
    294,262
    
    
    
    131,691
    
    
    
    693,7102004Revenues before reimbursements
    
    $
    6,133,081
    
    
    $
    6,572,011
    
    
    $
    968,471
    
    
    $
    13,673,563Reimbursements
    
    
    682,087
    
    
    
    627,368
    
    
    
    130,564
    
    
    
    1,440,019Revenues
    
    
    6,815,168
    
    
    
    7,199,379
    
    
    
    1,099,035
    
    
    
    15,113,582Long-lived assets at August 31
    
    
    282,431
    
    
    
    253,323
    
    
    
    108,192
    
    
    
    643,9462003Revenues before reimbursements
    
    $
    5,671,026
    
    
    $
    5,352,850
    
    
    $
    794,123
    
    
    $
    11,817,999Reimbursements
    
    
    907,628
    
    
    
    560,391
    
    
    
    111,222
    
    
    
    1,579,241Revenues
    
    
    6,578,654
    
    
    
    5,913,241
    
    
    
    905,345
    
    
    
    13,397,240Long-lived assets at August 31
    
    
    325,250
    
    
    
    252,001
    
    
    
    73,204
    
    
    
    650,455
 
 (1)
    
    EMEA includes Europe, Middle East and Africa.  August 31,2005
    
    2004
    
    2003United States
    
    
    37
    %
    
    
    39
    %
    
    
    43
    %United Kingdom
    
    
    17
    %
    
    
    16
    %
    
    
    14
    %
  August 31,2005
    
    2004
    
    2003United States
    
    
    34
    %
    
    
    37
    %
    
    
    43
    %United Kingdom
    
    
    20
    %
    
    
    12
    %
    
    
    11
    %India
    
    
    10
    %
    
    
    9
    %
    
    
    4
    %
  Year Ended August 31,2005
    
    
    2004
    
    
    2003Consulting(1)
    
    $
    9,559,157
    
    
    $
    8,589,645
    
    
    $
    8,048,134Outsourcing(1)
    
    
    5,987,872
    
    
    
    5,083,918
    
    
    
    3,769,865Revenues before reimbursements
    
    
    15,547,029
    
    
    
    13,673,563
    
    
    
    11,817,999Reimbursements
    
    
    1,547,391
    
    
    
    1,440,019
    
    
    
    1,579,241Revenues
    
    $
    17,094,420
    
    
    $
    15,113,582
    
    
    $
    13,397,240
 
 (1)
    
    In fiscal 2003, $334,972 of revenues before reimbursements previously classified as
Other have been reclassified to Consulting or Outsourcing type of work to conform to the
current presentation. F-35




---



##### 



ACCENTURE SCA
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(In thousands of U.S. Dollars, except share amounts or as otherwise disclosed)
 16. QUARTERLY DATA (unaudited)
 Year Ended August 31:
 First
    
    
    Second
    
    
    Third
    
    
    Fourth2005
    
    Quarter
    
    
    Quarter
    
    
    Quarter
    
    
    Quarter
    
    
    AnnualRevenues before reimbursements
    
    $
    3,730,355
    
    
    $
    3,813,522
    
    
    $
    4,078,573
    
    
    
    3,924,579
    
    
    
    15,547,029Reimbursements
    
    
    341,017
    
    
    
    402,862
    
    
    
    419,037
    
    
    
    384,475
    
    
    
    1,547,391Revenues
    
    
    4,071,372
    
    
    
    4,216,384
    
    
    
    4,497,610
    
    
    
    4,309,054
    
    
    
    17,094,420Operating income
    
    
    458,150
    
    
    
    471,952
    
    
    
    671,948
    
    
    
    509,188
    
    
    
    2,111,238Net income
    
    
    316,293
    
    
    
    336,704
    
    
    
    481,515
    
    
    
    354,857
    
    
    
    1,489,369
 First
    
    
    Second
    
    
    Third
    
    
    Fourth2004
    
    Quarter
    
    
    Quarter
    
    
    Quarter
    
    
    Quarter
    
    
    AnnualRevenues before reimbursements
    
    $
    3,261,585
    
    
    $
    3,302,209
    
    
    $
    3,686,662
    
    
    $
    3,423,107
    
    
    $
    13,673,563Reimbursements
    
    
    312,903
    
    
    
    380,095
    
    
    
    363,579
    
    
    
    383,442
    
    
    
    1,440,019Revenues
    
    
    3,574,488
    
    
    
    3,682,304
    
    
    
    4,050,241
    
    
    
    3,806,549
    
    
    
    15,113,582Operating income
    
    
    507,140
    
    
    
    307,429
    
    
    
    573,157
    
    
    
    370,900
    
    
    
    1,758,626Net income
    
    
    332,157
    
    
    
    218,623
    
    
    
    365,640
    
    
    
    296,499
    
    
    
    1,212,919
 17. SUBSEQUENT EVENTS
   F-36