Amortization is a key ingredient in any business entrepreneurship. In order to decrease yearly expenses, it is a duty of the business managers to adequately use certain amortization methods in their calculations. In this paper, the topic of amortization accounting has been covered. The term of amortization is defined, its base, beginning as well as ending of the amortization accounting. Furthermore, the subjects of amortization and the role of long-term material and non-material assets in amortization accounting have been defined. The aforementioned is corroborated with detailed examples of amortization accounting for long-term material assets on a yearly basis and for the case of total write-off. Legal boundaries which determine amortization accounting have been defined and some of the amortization accounting methods have been presented; with corresponding example of amortization accounting through method which uses the number of working hours.