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Home > Financial Accounting > Non-Current Assets > Depletion Expense. Depletion is an accounting concept which is similar to depreciation but it is mostly used in timber, mining and mineral oil extraction industries to refer to the gradual exhaustion of natural resource deposits such as coal mines, oil fields, etc.
The matching principle of accounting requires that amount of asset depleted in a given period must be expensed against the revenue in that period. Therefore, any method used for calculation of depletion expense must strictly obey the relevant accounting principles. Assuming a company sells all of the natural resource extracted within a given period, the formula to calculate depletion expense for the period will be: