It is not the same thing. In long-term lease you get immediate control of the asset you are leasing and hence the lease becomes a liability in the books of accounts (you record both the asset acquired and lease liability in the books and it balances). A contract cannot be recorded in your books as a liability as neither work is performed yet nor any cash transaction has taken place. It is just a commitment. Once the contract starts being executed, only then can you record in the books.