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WOULD DIVISION: GENERAL INFORMATION SYSTEM Office of Health Insurance Programs 6/27/08 PAGE 1 GIS 08 MA/016 TO: Local District Commissioners, Medicaid Directors FROM: Judith Arnold, Director Division
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Elimination of form asset is the process of removing an asset from a company's balance sheet.
Any company or individual who needs to remove an asset from their balance sheet is required to file elimination of form asset.
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The purpose of elimination of form asset is to accurately reflect the financial position of a company by removing any assets that are no longer relevant.
The information that must be reported on elimination of form asset includes details of the asset being removed, reason for elimination, and any impact on the company's financial statements.
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