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20152016EXTREMEWEIGHTLOSSCHALLENGEGUIDELINES
CONTESTANTS
Contestantsmustbe18yearsoldtocompete. Challengersunder54andunderwillbeintheBlue
Division. Challengers55yearsoldandolderwillbeintheGoldDivision.
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What is eliminations?
Eliminations are the process of removing intercompany transactions or balances between entities within a group of companies to present consolidated financial statements.
Who is required to file eliminations?
Companies that have multiple subsidiaries or entities that need to be consolidated into one financial statement are required to file eliminations.
How to fill out eliminations?
Eliminations are typically filled out by accountants or finance professionals who have knowledge of intercompany transactions and consolidation procedures.
What is the purpose of eliminations?
The purpose of eliminations is to avoid double counting of transactions and to present a true and fair view of the group's financial position.
What information must be reported on eliminations?
Intercompany transactions, balances, and any adjustments necessary to consolidate the financial statements must be reported on eliminations.
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