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.
What is to 'Capitalize'. Capitalize is an accounting method used to delay the recognition of expenses by recording the expense as a long-term asset. In general, capitalizing expenses is beneficial as companies acquiring new assets with a long-term lifespan can spread out the cost. Companies are allowed to take expenses they incur in the current period and deduct them over the long-term life of the asset.