Recent Tutoring Session Reviews
"Session Four: 03-18 from 3:30 until 6:15. Long strong session today. The student has a test next Thursday on chapters 5-8, but we sort of started on chapters 2,3,4 today. I printed out the "old" homework pages from each earlier chapter and we "redid" the homework, mainly working on accounting principles and language. We did a full two pages of journal entries from the chapter three homework, again with him reading each "transaction," and I let him select the CR/DB account on his own. By the end of "class," he was starting to see the "two account" aspects of dual entry accounting where you usually have the CR to sales/revenues coupled with a DB to AR or cash and in the same entry a DB to COGS and CR to inventory. By the end of today at least that set of items was in his mind. He plans to do chapters 5-8 in the time between now and next Thursday. Much of our time is spent not discussing accounting transactions per se but what these concepts/words mean. We did get some important work done in terms of the difference between an order, a purchase, an invoice, etc."
"We reviewed the practice exam and quickly reviewed all the relevant chapters before the student's exam. He should do well on the exam today."
"We covered present value of annuities, amortization tables, and related journal entries. We also covered calculating and recording depreciation expense and entries related to disposal of an asset."