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.
BREAKING DOWN 'Capitalized Lease Method'. When a lease is capitalized, the lessee creates an asset account for the leased item, and the asset value on the balance sheet is the lesser of fair market value or the present value of the lease payments. The lessee also posts a lease obligation in the liability section of the balance sheet for the same dollar amount as the asset.