In the present work, the authors examine two computational approaches that can be used to study flexible flapping systems. For illustration, a fully coupled interaction of a fluid system with a flapping profile performing harmonic flapping kinematics is studied. In one approach, the fluid model is based on the Navier-Stokes equations for viscous incompressible flow, where all spatio-temporal scales are directly resolved by means of Direct Numerical Simulations (DNS). In the other approach, the fluid model is an inviscid, potential flow model, based on the unsteady vortex lattice method (UVLM). In the UVLM model, the focus is on vortex structures and the fluid dynamics is treated as a vortex kinematics problem, whereas with the DNS model, one is able to form a more detailed picture of the flapping physics. The UVLM based approach, although coarse from a modeling standpoint, is computationally inexpensive compared to the DNS based approach. This comparative study is motivated by the hypothesis that flapping related phenomena are primarily determined by vortex interactions and viscous effects play a secondary role, which could mean that a UVLM based approach could be suitable for design purposes and/or used as a predictive tool. In most of the cases studied, the UVLM based approach produces a good approximation. Apart from aerodynamic load comparisons, features of the system dynamics generated by using the two computational approaches are also compared. The authors also discuss limitations of both approaches.