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.
A capital lease is a lease in which the lessee records the underlying asset as though it owns the asset. This means that the lessor is treated as a party that happens to be financing an asset that the lessee owns. The lessor should record a lease as a capital lease if any of the following criteria are met: