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Capital lease

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Definitions Edit

Business-962358 1920

A capital lease is

[a] lease other than a lease-purchase that transfers substantially all the benefits and risks of ownership to the lessee and does not meet the criteria of an operating lease.[1]
an agreement that conveys the right to use property, plant or equipment, usually for a stated period of time, that meets one or more of the criteria set forth by GAAP.[2]

References Edit

  1. A Glossary of Terms Used in the Federal Budget Process, at 27.
  2. Michigan Dept. of Tech., Management & Budget, 8000 Glossary (Jan. 6, 1997) (full-text).

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