The major difference between these definitions from accounting and
from economics is whether property is acquired. Economics says that any
expenditure that produces future benefits, whether or not specific property
is acquired, is a capital outlay. To qualify as a capital expenditure under the
definition from accounting, however, an expenditure must not only yield
benefits in the future but also result in the acquisition of specific, long-lived
property or add to or improve existing property. Indeed, it is through the use
of the property or asset that the future benefits are realized.