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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.
A company can increase the amount of its accumulated depreciation faster if it elects to use an accelerated depreciation method over a more traditional straight-line depreciation method. Accelerated depreciation increases the period depreciation expense during the early life of an asset or group of assets. When asset or group of assets of a company is eventually retired or sold, the total amount of the accumulated depreciation associated with the retired or sold asset or group of assets will be reversed.