Accumulated Depletion

A total reduction to the value of an asset over time. Accumulated depletion comes about as a result of the physical reduction of the asset's features. For example, there is a limited amount of oil in an oil field. Accumulated depletion is the total reduction to the value of the oil field as the oil is drilled up over time. Accumulated depletion is recorded on a balance sheet most often in connection with natural resources. See also: Contra-Asset, Depreciation, Amortization.

References in periodicals archive

SFAS 143 ends this practice of recognition through charges to depreciation or depletion and accrual via accumulated depreciation or accumulated depletion by requiring immediate recognition of the liability at fair value.

Accounting for asset retirement obligations. (Accounting)

Less: Accumulated depletion 110,386,244 116,413,985

Less: Accumulated depletion 128,373,491 132,586,231

Less: Accumulated depletion 161,963,112 214,528,294

Table 13. Corporation income tax returns: balance sheet, income statement, and tax items for income years, 2003-2009

Less: Accumulated depletion 110,296,199 110,386,244

Less: Accumulated depletion 116,413,985 128,373,491

Table 13. Corporation income tax returns: balance sheet, income statement, and tax items for income years, 2002-2008

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