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Definition:

An operating lease is a leasing contract which contains terms that are short relative to the useful life of the asset in question.

These types of leases are used in order to acquire equipment on a short-term basis.

A good example would be an airplane which has an economic life of 30 years, may be leased to an airline company for 6 years on an operating lease.
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e-conomic in brief

e-conomic is an online accounting software used by more than 43,000 companies and 3,200 accountants worldwide - from sole practitioners to large accounting firms. The software is easy to use and flexible, and you can give your accountant free access.