Depletion for Oil, Gas & Mining: Complete Guide to Natural Resource Accounting
If you’re in the natural resources industry—whether you’re mining coal in Wyoming, pumping oil in Texas, or harvesting timber in Oregon—you’ve probably heard the term “depletion” thrown around. But what exactly is it, and why should you care? Let’s break down this essential accounting concept in plain English. Think of depletion as depreciation’s rugged cousin….
