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.
Capital assets are real or personal property that have a value equal to or greater than the capitalization threshold for the particular classification of the asset and have an estimated life of greater than one year..1.6 Calculation of Leased Asset and Liability Amounts. The lessee treats the capital lease as if an asset were being purchased over time; that is, it is a financing transaction in which an asset is acquired and a corresponding obligation (liability) is created.