Concurrent with the concept of accumulated depreciation is that of accumulated

amortization and depletion. Depending on the type of asset, the naming convention will

be different. In the case of tangible assets, such as real estate or plant and equipment,

depreciation is used.

It's called amortization for intangible assets like patents and trademarks, and depletion for

natural resource-related assets like mines and oil rigs. The equivalent accumulated

contra-asset accounts are credited in order to account for the expense when amortization

or depletion is recorded for the year.