Is bundling the same thing as capitalization allowed by generally accepted accounting principles (GAAP)?
No. Bundling is a purchasing concept that may include items that are not appropriate for capitalization under GAAP. Capitalization under GAAP is allowed for purposes of recording capital assets in a governmental fixed asset inventory or for the entity-wide statements in the audits or for recording capital assets in a proprietary fund and certain trust funds that use full accrual accounting. The latter (proprietary and certain trust funds) records depreciation expense annually on equipment, but governmental funds such as General Fund, PPEL fund, PERL fund, and SAVE/SILO fund record equipment expenditures by function and object.