As Chief Engineer of Sydney Harbour Bridge and Metropolitan Railway Construction from 1912, Dr Bradfield is regarded as the father of the Bridge as it was his vision, enthusiasm, engineering expertise and detailed supervision of all aspects of its construction which brought Sydney's long held dream into reality.
What is a 'Capital Lease'. A capital lease is a contract entitling a renter to a temporary use of an asset, and such a lease has economic characteristics of asset ownership for accounting purposes. The capital lease requires a renter to add assets and liabilities associated with the lease if the rental contract meets specific requirements.
The lessor owns the property; the lessee uses the property. 2. Kind of lease. An operating lease provides that the property be returned to the lessor. A capital lease is actually a purchase in which the lease is a means of financing (rather than a bank loan). Therefore, a capital lease has payments that include principal and interest. 3. Conditions. A lease that meets one or more of the following criteria is a capital lease, and the lessee should depreciate the leased asset: â¢ Ownership is transferred when the lease terminates.