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Accumulated depreciation is the total amount a company depreciates its assets, and depreciation expense is the amount a company's assets are depreciated for a single period. Essentially, accumulated depreciation is the total amount of a company's cost that has been allocated to depreciation expense since the asset or assets have been put into use. The accumulated depreciation account is an asset account on a company's balance sheet with a credit balance.
Depreciation is an accounting convention that allows companies to expense an estimate for the portion of long-term operating assets used in the current year. It is a non-cash expense that inflates net-income, but helps to match revenues with expenses in the period in which they are incurred.