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.
If the lease is accounted for as a capital lease, the lessor must determine if it classifies as a direct-finance lease or as a sales-type lease. To classify as a sales-type lease, the fair value of the asset must be greater than the lessor's book value. If not, it is accounted for as a direct-financing lease. Direct-Financing Lease. As its name implies, a direct-financing lease is basically the coupling of a sale and financing transaction.