There is now a white paper available that provides an overview of the ways that the Project management and accounting module and other modules in Microsoft Dynamics AX 2012 integrate and connect with one another.
The document aims to help those who set up and use Microsoft Dynamics AX 2012 better understand how information flows between projects and other parts of the system.
Each section in the white paper is devoted to a specific module. It describes tasks that you perform in that module that have project-related impact and describes other integration points with Project management and accounting.
http://www.microsoft.com/en-us/download/details.aspx?id=40300