Explain amortization and depletion easy define

Depletion is an accounting and tax concept used most often in the mining, timber, and petroleum industries. It is similar to depreciation in that it is a cost recovery system for a...

Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time. In relation to a loan, amortization focus...

The word amortization means written off..the fictitious assets are written off by the companies over a specified period of time.. because these expenditure are of huge amount and c...