The Capitalization of a Project Vs. an Operational Expense Accounting provides companies with specific rules for financial information management. Capitalizing a project means recording certain costs as an asset. Assets increase a company's value and economic wealth as reported on its balance sheet. Operational expenses represent capital used to Update - Accounting Project - Applied Educational Systems Dec 09, 2014Posted On: 12/9/2014. This is a great opportunity to work with your students to ensure comprehension of accounting basics. To review the Accounting module, view the catalog: Accounting Module. The Accounting Project has been created to give your students the opportunity to put what they have learned into practice.