- Depletion of mineral
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English-Arabic economic glossary.
Depletion of mineral
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Depletion (accounting) — Depletion is an accounting concept used most often in mining, timber, petroleum, or other similar industries. The depletion deduction allows an owner or operator to account for the reduction of a product s reserves. Depletion is similar to… … Wikipedia
depletion allowance — n. The tax deduction allowed to owners of property containing natural resources as the resources are used up. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. depletion allowance … Law dictionary
Depletion allowance — A term for either (1) a periodic assignment to expense of recorded amounts or (2) an allowable income tax deduction that is related to the exhaustion of mineral reserves. Depletion is included as one of the elements of amortization. When used… … Energy terms
depletion allowance — a tax reduction allowed on income from exhaustible resources, as oil or timber. * * * In tax law, the deductions from gross income allowed investors in exhaustible commodities (such as minerals, oil, or gas) for the depletion of the deposits. The … Universalium
Mineral industry of Russia — Russia is one of the world’s leading mineral producing countries and accounts for a large percentage of the CIS’s production of a range of mineral products, including metals, industrial minerals, and mineral fuels. In 2005, Russia ranked among… … Wikipedia
depletion — An emptying, exhausting or wasting of assets. A reduction during taxable year of oil, gas or other mineral deposits or reserves (i.e., wasting assets) as a result of production. The process by which the cost or other basis of a natural resource… … Black's law dictionary
depletion — An emptying, exhausting or wasting of assets. A reduction during taxable year of oil, gas or other mineral deposits or reserves (i.e., wasting assets) as a result of production. The process by which the cost or other basis of a natural resource… … Black's law dictionary
Depletion — An accrual accounting method that companies use to allocate the cost of extracting natural resources such as timber, minerals and oil from the earth. Depletion is calculated for tax deduction and bookkeeping purposes. Unlike depreciation and… … Investment dictionary
depletion — The using up of an asset, especially a mineral asset. For example, a quarry is depleted by the extraction of stone. See also: depletion accounting, wasting asset … Accounting dictionary
depletion — The using up of an asset, especially a mineral asset. For example, a quarry is depleted by the extraction of stone. See also wasting asset … Big dictionary of business and management
depletion deduction — A deduction allowed in an income tax return to the owner of an economic interest in mineral deposits or standing timber. IRC § 613(a) … Ballentine's law dictionary
