DEPLETION
Depletion
Depletion is an accounting concept used most often in mining, timber, petroleum, or other similar industries. The depletion deduction allows an owner or operator to account for the reduction of a product's reserves. Depletion is similar to depreciation in that, it is a cost recovery system for accounting and tax reporting. For tax purposes, there are two types of depletion; cost depletion and percentage depletion.The above text is a snippet from Wikipedia: Depletion (accounting)
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depletion
Noun
- the act of depleting, or the state of being depleted; exhaustion
- the consumption of a resource faster than it can be replenished
The above text is a snippet from Wiktionary: depletion
and as such is available under the Creative Commons Attribution/Share-Alike License.