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Depreciation is for Fixed Assets. Amortization for intangible assets. What is Depletion for?

Accounting Cost Accounting Bank Accounting managerial accounting Finance
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Question added by Syed Hyder , Assistant Manager–Commercial Finance (Inventory & Payables) , Daraz.pk (Ali Baba Venture)
Date Posted: 2014/10/27
Upvote (1) Views (20) Followers (8) Answers (9) Report Question
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mohamed tantawy
by mohamed tantawy , Account Manager , Sky Prime Aviation

concept used most often in mining, timber, petroleum, in general used for natural resources for the reduction of a product's reserves

Ramachandra MS
by Ramachandra MS , Senior process executive , Infosys Limited

Depletion is for natural resources, used for mines and quarries.

Hisham Ali, CMA
by Hisham Ali, CMA , Financial Manager , Akelni Food Delivery

 

The systematic expensing of the original cost of physical assets over time is called depreciation.

The systematic expensing of the original cost of natural resources over time is called depletion.

The systematic expensing of the original cost of intangible assets over time is called amortization

Jenny Ong
by Jenny Ong , Accountant , Techno Steel LLC

DEpletion is for Natural Resources

saddaf qureshi
by saddaf qureshi , Sales executive , Air Indus

In accounts the depletion is for Natural resource

mohamed Hakim CMA CPA Candidate
by mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Natural resources 

Osama Ahmed
by Osama Ahmed , Internal Audit Supervisor , Fujairah National Group

As answered by others, depletion is for natural resources , usually and most commonly used for mines and quarries.

jassim karadan
by jassim karadan , Administrator for a period of 2 year's , INFO Communication

Additional expenses

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

It's natural resource.

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