Depletion (accounting)

Depletion is a fancy accounting word that means using up a natural resource over time. Imagine you have a big bucket of cookies. Every time you eat a cookie, the bucket gets a little bit emptier. This is kind of like what happens when companies use natural resources like oil, gas, and timber. They take a little bit out each year and eventually, there won't be any left. In accounting, we keep track of how much of the resource has been used up so we know how much is left and how much it costs. This helps companies plan for the future and make sure they're not using up all their resources too quickly.