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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.
What is the difference between amortization and depreciation? Because very few assets last forever, one of the main principles of accrual accounting requires that an asset's cost be proportionally expensed based on the time period over which the asset was used.