Kishi has already manipulated the real definition of 'chakra' and 'element' to suit his needs to create fictional chemistry, physics, etc. for his Narutoverse. Even though there may be some similarities to the use of the 5 popular elements in many cultures and works of art, it would be unwise to parallel definitions and examples of element manipulation to the T from manga to manga, let alone culture to culture or philosophy to philosophy.

As it is, different cultures and philosophies sight 5 classical elements with 4 of those 5 being consistent amongst respective cultures and philosophies. The fifth is popularly referred as "aether" but can mean one out of a multitude of things: "idea", "spirit", "sounds", "divinity", "void", "space", "metal", "lightning" and probably even more. (http://en.wikipedia.org/wiki/Classical_element).

A standard understanding of element (nature) and its manipulation does not exist so we best only cite the examples, definitions, and explanations Kishi has given us in Naruto.