Amortization Schedule

This has two definitions--first, an amortization schedule refers to the liquidation of a debt such as a mortgage; second, the term is used to show the general process of allocating the cost of an asset over its useful life as an expense or through inventory as a part of product cost. This includes depreciation for a plant and equipment, depletion for wasting assets (natural resources) and amortization for intangibles such as goodwill.