An amortization Schedule is a table outlining how much of the cost of an intangible asset will be deducted each year.
If you bought a patent for $15,000 and will amortize it for 15 years, the yearly amortization will be $15,000 divided by 15 or $1,000 each year. The first two years of the amortization schedule would look like this:
|Year||Amortization Expense||Amount of asset left to deduct|
|1||$1000||$14,000 (15,000 -1000)|
In a related use, people use an amortization TABLE to amortize loans, showing the interest paid with each loan payment and the amount of the loan left to pay.