Difference between Capitalizing and Expensing Costs/Expenditures difference, advantages, understand, only

manchester88

Can someone please break this down in an easy to understand way?? Schweser does a terrible job explaining the difference between Capitalizing costs/expenditures and Expensing them.

This is one of this wtf chapters where you have to read every sentence 3 times only to each time wonder if its going to be on the test.

What is the difference/advantages?

Any suggestions i'm sure will help more than this book.

Thanks